Proteome Sciences PLC Result of GM and Completion of Placing (4312Q)

TIDMPRM

RNS Number : 4312Q

Proteome Sciences PLC

29 November 2016

Proteome Sciences plc

("Company" or the "Group")

Result of General Meeting and Completion of Placing

29 November 2016: Proteome Sciences plc (AIM:PRM) is pleased to announce that at its General Meeting held earlier today, all resolutions were duly passed.

Accordingly, and as set out in the announcement dated 31 October 2016 (the "Announcement"), the Company now has the requisite authorities to complete the second tranche of the placing and subscription of 66,258,100 new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") with new and existing shareholders at a price of 5 pence per Ordinary Share to raise, in aggregate, GBP3.3 million before expenses (the "Fundraise").

The net proceeds of the Fundraise will be used to accelerate the Company's evolution into a premium contract, service-based biomarker business, underpinned with a bioinformatics capability whilst ensuring that the Company has the capacity to meet Thermo Fisher Scientific's further demand for its TMT reagents.

As an amendment to the Announcement, Vulpes Life Science Fund (a participant in the Fundraise of which Martin Diggle, Non-Executive Director of the Company, is a director and beneficiary) is expecting to delay its funding by one week due to the completion of a corporate restructuring of its Investment Manager in Singapore. Accordingly, the 20,664,754 new Ordinary Shares issued pursuant to the second tranche of the Fundraise are now expected to be admitted to trading on AIM at 8.00 a.m. on 16 December 2016 ("Admission"). Following Admission, the Company will have 294,324,832 Ordinary Shares in issue, all with voting rights. The Company does not hold any shares in treasury.

The above figure of 294,324,832 Ordinary Shares may be used by shareholders as the denominator for the calculation 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 FCA's Disclosure and Transparency Rules.

For further information:

 
 Proteome Sciences plc 
 Jeremy Haigh, Chief Executive Officer 
 Ian Pike, Chief Scientific Officer         Tel: [phone] 
 Geoff Ellis, Chief Financial Officer 
 
 finnCap Ltd (Nominated adviser & Broker) 
  Geoff Nash/James Thompson                   Tel : [phone] 
  Tony Quirke (Broking) 
 
 IFC Advisory (Public Relations)            Tel : [phone] 
  Tim Metcalfe/Graham Herring/Miles 
  Nolan 
 

About Proteome Sciences plc. (www.proteomics.com)

Proteome Sciences is a leader in applied proteomics offering high sensitivity, proprietary technologies and workflows for mapping cell signalling pathways (SysQuant(R) , TMTcalibrator(TM) ) and for the discovery, validation and assay development of protein biomarkers. The company has its headquarters in Cobham, UK, with laboratory facilities in London, UK and in Frankfurt, Germany from where the PS Biomarker Services(TM) division provides outsourced proteomics services and proprietary biomarker assays to biopharmaceutical and diagnostics companies and to academia.

Proteome Sciences has patented a number of novel protein biomarkers for diagnostic and treatment applications in important areas of human therapeutics such as cancer, stroke and Alzheimer's disease, and these are available for license.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 29, 2016 05:43 ET (10:43 GMT)