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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ashington Innovation Plc | ASHI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 0.75 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.75 | 0.75 | 0.75 | 0.75 |
| Industry Sector |
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| SUPPORT SERVICES |
| Top Posts |
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Posted at 24/8/2023 12:38 by hedgehog 100 Current share price 24th. August 2023: 2.75p (currently suspended)61,397,900 shares in issue Market capitalisation: £1,688,442. "Strategy Ashington Innovation PLC is a Special Purpose Acquisition Company (SPAC). The company was formed for the purpose of acquiring a business or businesses operating in the technology sector, taking whole or part ownership. ..." From Ashington Innovation's prospectus dated 1st. June 2023:- "The Net Cash, in the amount of approximately £707,130, being the Net Proceeds, together with the Founder’s Initial Funding and the Pre-IPO Financing, net of the costs of the Founder’s Initial Subscription, the Pre-IPO Financing and the establishment of the Company ..." "Subscription Price 3 pence per Ordinary Share" 06/06/2023 08:01 UK Regulatory (RNS & others) Ashington Innovation PLC Ashington - Admission to trading on the LSE LSE:ASHI Ashington Innovation Plc "Admission to trading on the London Stock Exchange Ashington Innovation plc, a special purpose acquisition company ("SPAC") aiming to benefit from favourable price conditions for companies in the financial services technology (fintech) and deep technology (deep tech) sectors, is pleased to announce that its entire issued ordinary share capital, consisting of 61,397,900 ordinary shares, was admitted to the Standard Listing Segment of the Official List of the Financial Conduct Authority, and to trading on the London Stock Exchange's Main Market for listed securities at 8.00 a.m. today, under the ticker "ASHI". ... About Ashington Innovation plc Ashington Innovation PLC is a special purpose acquisition company (SPAC), formed with the intention of acquiring businesses operating in the technology sector, in particular the financial services technology and deep technology sectors. The Company believes that in the increasingly fast-changing global environment there will be an abundance of opportunities to acquire existing businesses in the technology sector, and in particular businesses that possess and utilise proprietary technologies and own applicable intellectual property. The Company is not limited to any specific geographic region in identifying its target companies. Both Jason Drummond and Jason Smart, directors of the Company, bring a wealth of experience in founding and building successful companies across a diverse range of sectors. www.ashingtoninnovat 17/08/2023 08:10 UK Regulatory (RNS & others) Ashington Innovation PLC Heads of Terms Signed LSE:ASHI Ashington Innovation Plc "Proposed Reverse Takeover of Cell Therapy Limited Suspension of Listing Conditional Acquisition of Cell Therapy Limited Ashington Innovation (LSE:ASHI), the Special Purpose Acquisition Company (SPAC) established to acquire businesses primarily in the technology sector, is pleased to announce that the Company has entered into a non-binding term sheet (the "Term Sheet") with Cell Therapy Limited ("Cell Therapy") pursuant to which Ashington Innovation will acquire 100% of the total issued equity for GBP135 million in an all share transaction (the "Transaction"). Cell Therapy is a clinical stage biotechnology firm with a portfolio of patented cellular medicines with a lead program that successfully completed an early-stage human clinical trial in heart failure. The Directors of Ashington Innovation consider the Transaction to represent a transformational, value enhancing transaction for shareholders, which is fully aligned with the Company's growth strategy. Cell Therapy's product and patent portfolio provides a platform to develop leading medicines, which have been validated in a human clinical trial and through granted patents in the US, UK, EU and Asia. To fund the Transaction, Ashington Innovation will be seeking to carry out a placing of new ordinary shares to new and existing investors ("Placing") to raise funds of up to GBP3 million to finance the drug development program and working capital. As such, the Transaction is conditional, inter alia, on the completion of due diligence, definitive sale and purchase documentation, obtaining the necessary regulatory approvals from the FCA and the Takeover Panel, a successful Placing, and the passing of necessary resolutions to approve the Transaction by the shareholders of the Company at a duly convened general meeting. Suspension of Listing As the proposed acquisition, if it proceeds, will constitute a Reverse Takeover under the Listing Rules, the Company's ordinary shares shall be suspended pending the publication of a prospectus or an announcement that the proposed Transaction is not proceeding. Any restoration of the listing is subject to the approval of the FCA. At this stage, there can be no guarantee that the proposed Transaction will complete nor as to the final terms of the proposed Transaction. Further announcements and updates will be made in due course. Jason Smart, Founder of Ashington Innovation, commented: "We are delighted to have agreed a heads of terms to acquire Cell Therapy. During the past few months, we have reviewed numerous projects and believe the proposed acquisition meets our stated objective of identifying a potentially extremely valuable entity capable of sustainable development and with significant technological advantages. The directors believe that the regenerative medicine and biotechnology sector presents compelling opportunities to create value for shareholders and the proposed acquisition presents a high-quality target with an experienced and expert leadership. This is a very exciting opportunity to bring a scalable business with a strong track record to the public markets." " 24/08/2023 07:00 UK Regulatory (RNS & others) Ashington Innovation PLC Heads of Terms Signed for the Acquisition of Calon LSE:ASHI Ashington Innovation Plc "Heads of Terms Signed for the Acquisition of Calon Cardio-Technology Limited, subject to the Completion of the Reverse Takeover of Cell Therapy Limited Ashington Innovation plc (LSE: ASHI; FSE: 6FW), a special purpose acquisition company, is pleased to announce it has entered into a non-binding heads of terms agreement with Calon Cardio-Technology Limited ("Calon"), to acquire 100% of the outstanding shares in Calon in an all-share transaction. The acquisition is subject to the completion of the proposed reverse takeover of Cell Therapy Limited ("CTL") announced on 19th August 2023 as well as customary legal, financial, and other due diligence for a transaction of this type and entry into a legally binding sale and purchase agreement (the "Proposed Acquisition"). As no binding agreement has yet been reached, the Company cannot guarantee that the Proposed Acquisition will complete. About Calon Calon is a UK medical device company developing a Left Ventricular Assist Device (LVAD), an implantable heart pump for patients with severe heart failure. Calon's proprietary LVAD is registered under the trademark Mini-VAD(TM). The Mini-VAD(TM) has demonstrated during in vitro studies a significant reduction in blood damage compared to current LVADs. Calon manufactures its Mini-VAD(TM) at its state-of-the-art R&D and manufacturing facility in Wales and its technology is protected by a suite of patents and patent applications. Calon has been awarded multiple awards and non-dilutive funding grants, including being selected for the UK Government's Global Incubator Programme. Over its lifetime it has raised over GBP20m in equity and grant funding. Background to the Proposed Acquisition Ashington was formed as a special purpose acquisition company with the intention of acquiring businesses operating in the technology sector as outlined in its prospectus published on 2 June 2023 (the "Prospectus"), which can be found on the Company's website: hxxps://www.ashingto On 17 August 2023, Ashington announced it had signed a non-binding heads of terms agreement to acquire Cell Therapy Limited, trading as Celixir, via reverse takeover, which led to the suspension of its shares pending completion of the transaction. The addition of Calon dovetails with the proposed Cell Therapy acquisition and demonstrates the Company's broader strategy to form a material regenerative medicine company in the UK that addresses the sizeable heart failure market. Calon's LVAD technology is highly complementary with the cell therapies developed by 2007 Nobel prize winner and CTL co-founder Professor Sir Martin Evans, which target heart failure. CTL's development expertise in completing pre-clinical studies, securing FDA IND and clinical trial approvals in the UK and Europe, GMP manufacturing approvals and executing clinical trials will be leveraged across the group including development of a new therapy that combines its lead cell therapy, HeartCel(TM) with Mini-VAD(TM) implantation. The enlarged group will be led by Executive Chairman, Dr Darrin M Disley OBE, an experienced private/public company CEO and Director and a successful and highly regarded biotech entrepreneur. Prof. Sir Martin Evans will serve as the Group's Chief Scientist and eminent heart surgeon and founder of Calon, Prof. Steve Westaby, will serve as Chief Medical Officer. The Proposed Acquisition Following recent discussions, on 23 August 2023 Ashington entered a non-binding heads of terms agreement with Calon for the acquisition of 100% of the issued share capital of Calon for a purchase price of GBP39 million, to be satisfied by the allotment and issue of new ordinary shares in Ashington Innovation PLC to the shareholders of Calon. On completion of the Proposed Acquisition, it is Ashington's intention to seek admission of its enlarged ordinary share capital and related financing, to the Standard Segment of the Official List of the Financial Conduct Authority ("FCA") and to trading on the Main Market of the London Stock Exchange (together, "Admission"). ..." |
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