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Henderson Morley PLC (HML)

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Thursday 29 October, 2009

Henderson Morley PLC


RNS Number : 5763B
Henderson Morley PLC
29 October 2009

29 October 2009


("Henderson Morley" or the "Company")



Henderson Morley plc, the Aim quoted biotechnology company, announces that it has raised £300,000, before expenses, via a placing ('the Placing') by Rivington Street Corporate Finance to institutional and other investors of 150 million new Ordinary shares of 0.125 pence in the Company at a price of 0.2 pence per share.

Andrew Knight and Dr Ian Pardoe, Directors of the Company, have each subscribed £15,000 for 7,500,000 new ordinary shares as part of the Placing. The Directors, other than Messrs Knight and Pardoe, having consulted with the Company's nominated adviser, believe that the terms of this transaction are fair and reasonable insofar as shareholders are concerned.

Rivington Street Holdings plc, the holding company of the Company's brokers, Rivington Street Corporate Finance, have subscribed for 30,000,000 shares in the Placing.

As set out in the Company's recent AGM statement, the 
near term revenue bearing agreements, which the Board had expected in the remainder of 2009, have taken longer than anticipated to conclude. The Company has effected the Placing to provide working capital whilst it continues to negotiate these agreements.

In addition to the above share allotment, the Company has also allotted 25,000 new ordinary shares to a shareholder who was entitled to, but inadvertently not allotted, "bonus" shares at the time of the Company's share offering in June.  

The Placing is conditional on the admission of the new ordinary shares to trading on AIM. Application has been made for 150,025,000 shares to be admitted to AIM and trading in the new shares is expected to commence on 3 November 2009.

Following Admission, A Knight and Dr I Pardoe will own 137,418,764 and 99,227,751 shares respectively, representing 11.9% and 8.6% respectively of the Company's enlarged issued share capital of 1,154,722,463 
shares in issue.



HENDERSON MORLEY PLC                                                    0121 442 4600 
Andrew Knight, Chairman                

BISHOPSGATECOMMUNICATIONS LTD                             
 0207 562 3350
Maxine Barnes 
Gemma O'Hara

BREWIN DOLPHIN INVESTMENT BANKING                       0113 241 0126

Neil Baldwin

 0207 562 3380
Monisha Varadan

This information is provided by RNS
The company news service from the London Stock Exchange

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