TyraTech, Inc. Result of Special Meeting (3637A)

TIDMTYR TIDMTYRU

RNS Number : 3637A

TyraTech, Inc.

18 February 2014

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM JAPAN, CANADA OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

TyraTech, Inc.

("TyraTech" or the "Company")

Result of Special Meeting

Further to the announcement dated 31 January 2014, TyraTech, Inc. (AIM: TYR and TYRU), a natural life sciences company, is pleased to announce that at the Special Meeting held earlier today, each of the resolutions as set out in the notice of Special Meeting was duly passed. Accordingly, the Fundraise (as defined in the circular dated 4 February 2014) is now unconditional save for admission.

Accordingly, the Company has approved, subject only to Admission, the issue of 37,391,763 new common shares in the capital of the Company of $0.001 each (the "New Common Shares") at 5 pence per share to the investors participating in the Fundraise.

Application has been made to the London Stock Exchange for the New Common Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission and the commencement of dealings will take place at 8.00 a.m. on 21 February 2014.

Following Admission, the Company will have 206,168,068 common shares of $0.001 each ("Common Shares") in issue, of which 1,084,413 will continue to be held in Treasury. Therefore, the total number of voting rights in the Company will be 205,083,655 ("Total Voting Rights"). The number of restricted Common Shares trading under TIDM 'TYR' following Admission will be 154,744,339 and the number of unrestricted Common Shares trading under TIDM 'TYRU' following Admission will be 51,423,729.

Following Admission, the directors of the Company will hold the following number of Common Shares:

 
                     Subscription             Total Common         Resulting % of 
                  pursuant to the    Shares held following    Total Voting Rights 
                        Fundraise                Admission 
--------------  -----------------  -----------------------  --------------------- 
 
 Alan Reade             2,000,000               12,486,358                  6.09% 
 
 Bruno Jactel             494,363                1,859,567                  0.91% 
 
 Barry Riley              600,000                3,055,556                  1.49% 
 
 James Hills              482,400                1,047,900                  0.51% 
--------------  -----------------  -----------------------  --------------------- 
 

In addition, the directors are interested in the following options over Common Shares:

 
                Options held over   Option exercise      Expiry date 
                 Common Shares in             price 
                      the Company 
-------------  ------------------  ----------------  --------------- 
 
 Alan Reade               550,000          GBP0.105       4 February 
                                                                2020 
                          995,125           GBP0.12       20 October 
                                                                2020 
                        1,000,000           GBP0.06    25 April 2022 
                          100,570           GBP0.12     6 March 2022 
 
 Bruno Jactel             500,000           GBP0.06   1 January 2023 
                          500,000           GBP0.12   1 January 2023 
                          500,000           GBP0.15   1 January 2023 
 
 Barry Riley              200,000           GBP0.12       20 October 
                                                                2020 
                          350,000           GBP0.06    25 April 2022 
 
 James Hills              200,000           GBP0.12       20 October 
                                                                2020 
                          350,000           GBP0.06    25 April 2022 
-------------  ------------------  ----------------  --------------- 
 

Further, at the Special Meeting the issue of up to a further 1,152,700 common shares pursuant to the exercise of warrants to subscribe for common shares granted to Spark Advisory Partners Limited, Allenby Capital Limited and Whitman Howard Limited was also approved.

For further information please contact:

 
TyraTech Inc. 
 Alan Reade, Non-Executive Chairman                    Tel: [phone] 
 Bruno Jactel, Chief Executive Officer                Tel: [phone] 
SPARK Advisory Partners Limited, Nominated Adviser 
 Matt Davis / Mark Brady                              Tel: [phone] 
                                                      Tel: [phone] 
Allenby Capital Limited , Joint Broker 
 Chris Crawford                                      Tel: [phone] 
Whitman Howard Limited, Joint Broker 
 Ranald Mc-Gregor Smith / Niall Devins               Tel: [phone] 
Walbrook, Financial PR and IR 
 Bob Huxford /Guy McDougall (Public Relations)       Tel: [phone] 
 Paul Cornelius (Investor Relations)                 Tel: [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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