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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Medgenics(Regs) | LSE:MEDG | London | Ordinary Share | COM SHS USD0.0001 (REGS) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 302.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMEDG RNS Number : 3174T Medgenics Inc 27 September 2010 Medgenics, Inc. ("Medgenics" or the "Company") Exercise of Warrants Correction of Prior Release 27 September 2010 The following amendments have been made to the 'Directors/PDMR Shareholding' announcement released on 24 September 2010 at 2.30pm under RNS No 2861T. The announcement has been corrected to more accurately reflect the nature of the party exercising the warrants. Whilst CIBC is deemed to be a "Related Party" to Joel Kanter (a non executive director of Medgenics) for the purpose of the AIM Rules, the revised explanation of CIBC more accurately reflects the nature of the trust and any relationship with Mr.Kanter as the same may relate to the tax and securities laws of the United States of America, the country in which Mr. Kanter lives. All other details remain unchanged. The full amended text is shown below: Medgenics, Inc. (AIM: MEDG, MEDU), the company that has developed a novel technology for the manufacture and delivery of therapeutic proteins continuously in patients using their own tissue, announces that, on 22 September 2010, it received an executed warrant exercise notice from CIBC Trust Company (Bahamas) Limited, as trustee ("CIBC") in respect of warrants to purchase 3,059,192 common shares of par value $0.0001 each in the Company ("Common Shares") at an exercise price of $0.071 per share, for an aggregate exercise price of $217,203. CIBC is the trustee of a trust established for the benefit of various descendants of (i) Helen and Henry Krakow, and (ii) Beatrice and Morris Kanter. Joel Kanter, a non-executive director of Medgenics, is a discretionary beneficiary of the CIBC Trust. Sole voting and investment control of shares owned by the CIBC Trust is vested in CIBC as trustee of the CIBC Trust. The Company intends to use the warrant exercise proceeds to fund current operations and for general working capital purposes. Application will be made to the London Stock Exchange for the 3,059,192 new Common Shares to be admitted to trading on AIM. Dealings are expected to commence at 8:00 a.m. on 1 October 2010. Following the admission to trading of the new Common Shares, the Company's total issued share capital will be 180,155,206 Common Shares and the percentage of AIM Securities held by officers, directors and their affiliates will be approximately 34.5%. Following the issue of the 3,059,192 new Common Shares, Mr. Kanter and his Related Parties (as defined by the AIM Rules) will be interested in an aggregate of 36,008,688Common Shares (representing 20% of the issued share capital) and warrants and options to purchase an aggregate of 3,254,523 Common Shares. Mr. Kanter's aggregate interests (including those of Related Parties as defined by the AIM Rules) in the Company's Common Shares will comprise: +-------------------+------------+------------+-----------+------------+----------+ | Party | Common | Instrument | Number | Expiry | Exercise | | | Shares | | | Date | Price | +-------------------+------------+------------+-----------+------------+----------+ | Mr. Joel Kanter | 1,624,549 | | | | | +-------------------+------------+------------+-----------+------------+----------+ | | | Options | 1,708,110 | 14/11/2012 | $0.210 | +-------------------+------------+------------+-----------+------------+----------+ | | | Options | 1,000,000 | 14/9/2020 | $0.234 | +-------------------+------------+------------+-----------+------------+----------+ | Kanter Family | 2,497,233 | Warrants | 96,413 | 13/2/2012 | $0.250 | | Foundation | | | | | | +-------------------+------------+------------+-----------+------------+----------+ | CIBC Trust | 10,665,177 | Warrants | 450,000 | 13/2/2012 | $0.250 | | Company (Bahamas) | | | | | | | Limited | | | | | | +-------------------+------------+------------+-----------+------------+----------+ | Chicago | 20,933,116 | | | | | | Investments, Inc. | | | | | | +-------------------+------------+------------+-----------+------------+----------+ | Chicago Private | 240,465 | | | | | | Investments, Inc. | | | | | | +-------------------+------------+------------+-----------+------------+----------+ | Windy City, Inc. | 48,148 | | | | | +-------------------+------------+------------+-----------+------------+----------+ | Total Common | 36,008,688 | | | | | | Shares | | | | | | +-------------------+------------+------------+-----------+------------+----------+ | | | | | | | +-------------------+------------+------------+-----------+------------+----------+ | Total Interests | 39,263,211 | | | | | | (including | | | | | | | warrants and | | | | | | | options) | | | | | | +-------------------+------------+------------+-----------+------------+----------+ For further information, contact: +--------------------------------------+------------------------+ | Medgenics, Inc. | Phone: +972 4 902 8900 | | Dr. Andrew L. Pearlman | | | | | +--------------------------------------+------------------------+ | Religare Capital Markets (Nominated | Phone: +44 20 7444 | | Adviser) | 0800 | | James Pinner | | | Derek Crowhurst | | | | | +--------------------------------------+------------------------+ | SVS Securities plc (Joint Broker) | Phone: +44 20 7638 | | Ian Callaway | 5600 | | | | +--------------------------------------+------------------------+ | Nomura Code Securities PLC (Joint | Phone: +44 20 7776 | | Broker) | 1219 | | Jon Senior | | | | | +--------------------------------------+------------------------+ | De Facto Communications | Phone: +44 20 7861 | | Mike Wort | 3838 | | Anna Dunphy | | | | | +--------------------------------------+------------------------+ | Grayling (Investment Relations - US) | Phone: +1 646 284 | | Leslie Wolf-Creutzfeldt | 9472 | +--------------------------------------+------------------------+ Notes to Editors: Medgenics is a commercial-stage, biopharmaceutical company, developing its unique tissue-based Biopump platform technology to provide sustained-action protein therapy for the treatment of a range of chronic diseases. The first revenue generating commercial deal with a well known multinational pharmaceutical company was negotiated in late 2009 and we look forward to generating additional deals to further commercialise the Biopump platform technology. Biopumps are made using needle biopsies taken from the lower layer of the patient's skin under local anaesthetic, and processed during 10-14 days to become 30 mm long tissue biofactories producing the required protein. The requisite number of Biopumps are injected under the patient's skin to provide sustained protein production and delivery for many months. The Company is developing the Biopump to provide substantially greater safety and reliability in protein treatment in a more cost effective manner than experienced with the existing injected protein therapies. Medgenics currently has three products in development based on this technology, addressing the indications of: - anaemia - using EPODURE, a Biopump producing erythropoietin (EPO) - hepatitis-C - using INFRADURE - a Biopump producing interferon-alpha (IFN-a) - haemophilia - using a Biopump to produce clotting Factor VIII The Company's Phase I/II clinical trial using EPODURE to treat anaemia in patients with chronic kidney disease, has demonstrated proof of concept of the Biopump. Designed to produce and deliver a therapeutic dose of EPO steadily for six months or more, EPODURE Biopumps have already provided effective anaemia treatment in patients for 6-12 months, even at the low administered dose. Medgenics intends to develop its innovative products and bring them to market via multiple strategic partnerships with major pharmaceutical and/or medical device companies. In addition to treatments for anaemia, hepatitis-C and haemophilia, Medgenics plans to develop and/or out-license a pipeline of future Biopump products targeting the large and rapidly growing global protein therapy market, which is forecast to reach US $95 billion by the end of 2010. Other potential applications of Biopumps producing various proteins include multiple sclerosis, arthritis, paediatric growth hormone deficiency, obesity, and diabetes. For more information please visit: www.medgenics.com. This information is provided by RNS The company news service from the London Stock Exchange END RDSUNSSRRNAKUAR
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