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Share Name Share Symbol Market Type
Proton Partners International Limited NEX:PPI NEX Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 227.50p 210.00p 245.00p - - - 0 08:03:34

Proton Partners International Ltd. Issue of Equity

17/05/2019 3:11pm

UK Regulatory (RNS & others)


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RNS Number : 4392Z

Proton Partners International Ltd.

17 May 2019

17 May 2019

PROTON PARTNERS INTERNATIONAL LIMITED

ISSUE OF EQUITY

Proton Partners International Limited (the "Company", "Proton" or "Group") has issued a notice under the Woodford Commitment, referred to in the Company's NEX Exchange Growth Market ("NEX") admission document, under which it has subscribed for 5,681,818 Proton ordinary shares of GBP0.001 each ("Ordinary Shares") at the maximum possible price under that agreement of GBP1.76 per Ordinary Share, in order to raise GBP10 million. The funds will be used to provide additional working capital for the Group.

Settlement and Dealings

Application has been made for the admission to trading on NEX of the 5,681,818 Ordinary Shares with admission expected to take place on 20 May 2019 ("Admission"). Following Admission, the Company will have 158,383,715 Ordinary Shares in issue. The total number of voting rights will differ from this number as described below.

Holdings in the Company

Following the issue of the new Ordinary Shares, the Concert Party, as defined in the Company's NEX admission document, will have the following holdings.

 
                                                           Percentage      Adjusted 
                                         Number of          of issued     percentage 
                                          Ordinary          Ordinary       of total 
                                           Shares            Shares      voting rights 
 LF Woodford Equity Income 
  Fund                                      31,663,913         19.99%           19.50% 
 Woodford Patient Capital Trust 
  plc                                       37,931,818         23.95%           24.10% 
 Ominis Income & Growth Fund                   2,129,565        1.34%            1.35% 
 Wales Life Sciences Investment 
  Fund                                      10,000,000          6.31%            6.35% 
 
 TOTAL                                      81,725,296         51.60%           51.30% 
 

As LF Woodford Equity Income Fund is limited to 19.50 per cent. of the Company's voting rights, the voting rights of all other shareholders have been adjusted accordingly.

As stated in the Company's NEX admission document, the Concert Party can increase its holding through the acquisition of Ordinary Shares pursuant to the Woodford Commitment through a Rule 9 threshold without the requirement to make a mandatory offer pursuant to Rule 9 of the Takeover Code on the basis that the consequences of such increases have been disclosed in the NEX admission document.

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission, Proton will have 157,415,903 Ordinary Shares in issue with voting rights attached. Proton holds no shares in treasury. This figure of 157,415,903 may be used by shareholders in the Company 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 DTRs.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The directors of Proton Partners International Limited accept responsibility for this announcement.

Contacts

 
Proton Partners International Limited 
Michael Moran, Chief Executive Officer         Tel: +44 (0) 16 3381 
                                                               0661 
Marcus King, Financial Controller 
 
 
Grant Thornton (Corporate Adviser)             Tel: +44 (0) 20 7383 
                                                               5100 
Colin Aaronson/ Jamie Barklem/ Niall McDonald 
 
 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 17, 2019 10:11 ET (14:11 GMT)

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