Biome Technologies plc (LON:BIOM) has announced that the Retail Offer launched on 16 August 2024 via REX has now closed.
The Company had intended to raise gross proceeds of £80,000 through the Retail Offer. However, there was significant Shareholder demand in the Retail Offer and, as a result, the Company has increased the size of the Retail Offer to £160,000 through the issue, subject to Shareholder approval at the General Meeting, of 3,200,000 new Ordinary Shares at an issue price of 5 pence per new Ordinary Shares. Accordingly, the Company has conditionally raised total gross proceeds of approximately £1,110,000 pursuant to the Subscription and the Retail Offer.
As a result of the increase in the size of the Retail Offer, in addition to the specific authorities sought by the Directors to allot up to 1,600,000 new Ordinary Shares pursuant to the Retail Offer as contained in the Notice of General Meeting, the Company intends to rely on a portion of the additional authority sought at the General Meeting to allot shares for cash on a non-pre-emptive basis in order to satisfy demand.
Despite this increase in the size of the Retail Offer, it has remained necessary to scale back applications under the Retail Offer so as not to exceed total proceeds of £160,000.
Director participation in the Retail Offer
John Standen, Non-Executive Chairman of Biome Technologies, and his spouse Mrs K M Standen, participated in the Retail Offer and will each receive 60,000 Retail Offer Shares at the Issue Price. The FCA notifications, made in accordance with the requirements of UK MAR, are appended below.
Admission and Total Voting Rights
Following Admission of the First Subscription Shares and the Conversion Shares yesterday, the number of Ordinary Shares that the Company has in issue is 29,555,814. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company as at today’s date is 29,555,814. This figure may be used by Shareholders 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 share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Conditional on the passing of the Resolutions at the General Meeting, admission of the 3,200,000 Retail Offer Shares and the 18,800,000 Second Subscription Shares to trading on AIM is expected to take place at 8.00 a.m. on 5 September 2024 (being in any event no later than 8.00 a.m. on 16 September 2024).
A separate announcement will be made following the General Meeting as to the results of the General Meeting and the total voting rights in the Company following Second Admission.
The person responsible for arranging the release of this announcement on behalf of the Company is Paul Mines, Chief Executive Officer of the Company.
Unless otherwise defined, definitions contained in this announcement have the same meaning as set out in the announcement made by Biome Technologies on 16 August 2024 regarding the Fundraise.
