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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 Medgenics, Inc. ('Medgenics' or the 'Company') 16 February 2009 The Board of Medgenics announces that it was informed by Joel Kanter (a director of the Company) on 13 February 2009 that, on that same day, warrants held by certain affiliates in which he is interested had been exercised pursuant to the extension of the warrant repricing programme announced on 5 February 2009. Mr. Kanter's relevant affiliates are: 1. the Kanter Family Foundation, a not-for-profit corporation of which Mr. Kanter is the President and a Director. This affiliate has exercised warrants at the reduced exercise price of US $0.0375 each entitling it to 857,007 common shares of par value of US $0.0001 each ("Common Shares") and 96,413 warrants to subscribe for and purchase further Common Shares. The warrants ("Bonus Warrants") are exercisable at a price of US $0.25 per Common Share from 13 February 2009 and expire on 13 February 2012. 2. Chicago Private Investments, Inc, a corporation indirectly owned by the Kanter Trusts (see note (iii) below). This affiliate has exercised warrants at their original exercise price of US $0.000005 entitling it to 197,914 Common Shares and 3 Bonus Warrants. The aggregate cash amount received by the Company in respect of these warrant exercises was US $32,139. These new Common Shares are deemed to be restricted shares under the US securities laws and will be admitted to AIM pursuant to the block listing which was applied for on 4 December 2007 and will trade under the TIDM (ticker) MEDG. The Company announces that, as at the date of this announcement, it has 118,420,694 Common Shares in issue. The percentage of Common Shares in issue that are not in public hands is 30.0%. Following the above warrant exercises, Joel Kanter is interested in 14,053,487* Common Shares representing approximately 11.9% of the Company's issued share capital. Notes: * Included in the interests of Joel Kanter are his interests in: (i) 1,806,233 Common Shares held by the Kanter Family Foundation, an Illinois not-for-profit corporation of which Mr. Kanter is the President and is a Director; (ii) 7,605,985 Common Shares held by CIBC Trust Company (Bahamas) Limited ("CIBC"). CIBC is the trustee of Settlement T-555 (the "CIBC Trust"). The CIBC Trust was established for the benefit of various descendants of (i) Helen and Henry Krakow, and (ii) Beatrice and Morris Kanter. Mr. Kanter is a discretionary beneficiary of the CIBC Trust. Sole voting and investment control of the Common Shares owned by the CIBC Trust is vested in CIBC as trustee of the CIBC Trust; (iii)4,400,807 Common Shares held by Chicago Investments, Inc. ("CII"). CII is a majority-owned subsidiary of Chicago Holdings, Inc. ("CHI"). CHI is majority owned by various trusts (together the "Kanter Trusts") established for the benefit of various descendants of (i) Helen and Henry Krakow, and (ii) Beatrice and Morris Kanter. Joel Kanter is a discretionary beneficiary of some, but not all, of the Kanter Trusts. Sole voting and investment control of the Common Shares owned by CII is vested in Mr. Kanter's brother, Joshua Kanter, as President of CII; and (iv) 240,462 Common Shares held by Chicago Private Investments, Inc ("CPI"). CPI is a wholly owned subsidiary of The Holding Company ("THC"). THC is owned by Kanter Trusts. Sole voting and investment control of the shares of the Company owned by CPI is vested in Mr. Kanter's brother, Joshua Kanter, as President of CPI. For the purposes of applicable US Securities Laws and regulations, Mr. Kanter disclaims all beneficial and pecuniary interest to the Common Shares held by CII and CPI and the CIBC Trust. Such disclaimer does not affect Mr. Kanter's status as a discretionary beneficiary under the Kanter Trusts or the CIBC Trust. Following the exercise of these warrants, Joel Kanter is interested in the following number of warrants: Warrant Number Issue Expiry Exercise Name date date price US $ W 3,059,192 31/03/06 31/03/11 0.071 W 1,069,575 23/10/06 23/10/11 0.117 RS 14,080,734 31/03/06 31/03/11 0.023634 Bonus 450,000 30/01/09 30/01/12 0.25 Bonus 96,416 13/02/09 13/02/12 0.25 =---------------------------------------------------------------------- Total 18,755,917 The total warrants outstanding in the Company as of the date of this announcement are as follows: Warrant Date of No. of Exercise Expiry Date Type Issue Common Price per Shares Common Share RS 31.03.06 15,680,818 US $0.0005 31.03.11 RS 31.03.06 36,481,902 US $0.071 31.03.11 RW 31.03.06 1,388,821 US $0.000005 31.03.11 RW 22.10.08 22,588 US $0.000005 31.03.11 X 31.03.06 4,278,298 US $0.071 24.03.10 X 31.03.06 533,183 US $0.071 31.03.11 W 31.03.06 21,397,303 US $0.071 31.03.11 W 10.04.06 1,026,792 US $0.071 10.04.11 W 14.06.06 1,069,575 US $0.071 14.06.11 W 23.10.06 19,036,479 US $0.117 23.10.11 W 9.02.07 705,919 US $0.071 31.03.11 W 13.03.07 705,919 US $0.071 31.03.11 W 13.03.06 2,117,758 US $0.071 21.06.11 W 13.03.07 1,336,968 US $0.117 23.10.11 W 31.05.07 1,329,310 US $0.164 31.05.12 W 13.08.07 402,246 US $0.164 13.08.12 W 17.08.07 64,174 US $0.164 17.08.12 W 4.12.07 252,334 US $0.164 13.08.12 W 4.12.07 1,259,810 US $0.164 4.12.12 W 4.12.07 2,997,420 US $0.194 4.12.12 W 4.12.07 570,992 10p 4.12.12 W 19.10.08 305,598 US $0.164 17.08.12 Platinum 13.08.07 1,909,618 US $0.164 31.08.12 Platinum 4.12.07 1,604,362 US $0.164 4.12.12 Platinum 4.12.07 23,183 10p 4.12.12 Platinum 1.12.08 2,353,064 US $0.194 4.12.13 Bonus 30.1.09 1,196,728 US $0.25 30.1.12 Bonus 13.2.09 96,416 US $0.25 13.2.12 =---------------------------------------------------------------------- Total 120,147,578 The Company also confirms that the warrant repricing programme as announced on 17 December 2008 and as extended to 13 February 2009 (as announced on 5 February 2009) is now complete and no further extensions to the warrant repricing programme will be granted. The exercise price of any warrants that were not exercised prior to 13 February 2009 have all reverted to their original price as stated in this announcement. For further information, contact: Medgenics, Inc. +972 4 902 8900 Dr. Andrew L. Pearlman Blomfield Corporate Finance (Nominated adviser) +44 207 489 4500 James Pinner or Alan MacKenzie SVS Securities plc (Broker) +44 207 638 5600 Ian Callaway Grayling Global +44 207 255 5406 Jonathan Shillington or Alistair Scott NOTES TO EDITORS: Medgenics, Inc. is a clinical-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. Medgenics currently has two products in development based on this technology: · EPODURE - producing erythropoietin (EPO) to treat anaemia · INFRADURE - producing interferon-alpha (IFN-a) to treat hepatitis C The Company has demonstrated proof of concept of the Biopump treatment procedure in a clinical trial of EPODURE in anaemic subjects. The Company's Phase I/II clinical trial for its long-acting version of EPODURE, designed to produce and deliver a therapeutic dose of EPO steadily for six months or more commenced in August 2008. Medgenics plans to follow with a clinical trial of INFRADURE in 2009. Medgenics intends to develop its innovative products and bring them to market via multiple strategic partnerships with major pharmaceutical and/or medical device companies, starting with EPODURE and INFRADURE. Beyond these, 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 $87 billion by 2010. Other potential areas include multiple sclerosis (interferon-B), haemophilia (Factor VIII), paediatric growth hormone deficiency (human growth hormone) and diabetes (insulin). Founded in 2000, Medgenics is a US-incorporated company with major operations in Misgav, Israel. Medgenics was admitted to the London AIM in December 2007 (AIM:MEDG and AIM:MEDU). www.medgenics.com CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS This release contains forward-looking statements, which include all statements other than statements of historical fact, including (without limitation) those regarding the Company's financial position, business strategy, plans and objectives of management for future operations. These statements relate to future events, prospects, developments and strategies. Forward-looking statements are sometimes identified by their use of the terms and phrases such as "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning, "expect," "believe," "will," "will likely," "should," "could," "would," "may" or the negative of such terms and other comparable terminology. All such forward- looking statements are based on current expectations and are subject to risks and uncertainties. Should any of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may differ materially from those included within these forward-looking statements. Accordingly, no undue reliance should be placed on these forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, the events described in the forward-looking statements contained in this release may not occur. -END-
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