Guildford, UK, 14 May 2009: ReNeuron Group plc (LSE: RENE.L) announced on 12 March 2009 its intention to raise up to £3 million via a placing of up to 100,000,000 new ordinary shares of 1 pence each (“Ordinary Shares”) credited as fully paid up at a price of 3 pence per Ordinary Share (the “Placing”). ReNeuron has subsequently announced that shareholder approval of the Placing had been obtained and that on 3 April 2009, 25,611,111 Ordinary Shares were allotted and issued at first closing of the Placing and that a further 23,266,667 Ordinary Shares were allotted and issued on 7 April 2009, at second closing of the Placing.
ReNeuron Group plc today announces that 17,333,333 Ordinary Shares were allotted and issued at third closing of the Placing. Application has been made to admit such Ordinary Shares to trading on AIM, which is expected to occur on 20 May 2009.
To enable certain placees to take advantage of UK Enterprise Investment Scheme (“EIS”) tax treatment, the Placing comprises four closings. The fourth closing is expected to occur on or prior to 1 June 2009.
In connection with the Placing, it is intended that £2.5 million of outstanding loan notes (together with accrued interest thereon) be capitalised at a price of 3 pence per Ordinary Share on or prior to 1 June 2009.
Following third closing of the Placing, the issued share capital of ReNeuron Group plc now comprises 220,378,645 Ordinary Shares. The Company holds no shares in treasury. Therefore, the total number of voting rights in the Company is 220,378,645. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Services Authority’s Disclosure and Transparency Rules.
Michael Hunt, Chief Executive Officer Tel: +44 (0) 1483 302560
Jonathan Birt, Susan Quigley Tel: +44 (0) 20 7831 3113
Collins Stewart Europe Ltd
Stewart Wallace, Adam Cowen Tel: +44 (0) 20 7523 8350
Daniel Stewart & Company plc
Simon Leathers, Simon Starr Tel: +44 (0) 20 7776 6550
Matrix Corporate Capital LLP
Alastair Stratton, Tim Graham Tel: +44 (0) 20 3206 7000
ReNeuron is a leading, UK-based stem cell business. Its primary objective is the development of stem cell therapies targeting areas of significant unmet or poorly met medical need.
ReNeuron recently received regulatory approval to commence a Phase I clinical trial in the UK with its lead ReN001 stem cell therapy for disabled stroke patients. The Company is developing stem cell therapies for a number of other conditions, including peripheral arterial disease and diseases of the retina.
ReNeuron has also developed a range of stem cell lines for non-therapeutic applications – its ReNcell® products for use in academic and commercial research. The Company’s ReNcell®CX and ReNcell® VM neural cell lines are marketed worldwide under license by USA-based Millipore Corporation.
ReNeuron’s shares are traded on the London AIM market under the symbol RENE.L. Further information on ReNeuron and its products can be found at www.reneuron.com.
Collins Stewart Europe Limited, Daniel Stewart & Company plc and Matrix Corporate Capital LLP, are each authorised and regulated by the Financial Services Authority, and are each acting for the Company and for no-one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to their respective customers or for affording advice in relation to the matters referred to herein. None of Collins Stewart Europe Limited, Daniel Stewart & Company plc and Matrix Corporate Capital LLP accepts any liability whatsoever for the accuracy or opinions contained in this d ocument (or for the omission of any material information) and none of Collins Stewart Europe Limited, Daniel Stewart & Company plc and Matrix Corporate Capital LLP shall not be responsible for the contents of this document.