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Press Release

Share Capital Reorganisation - Allotment of Ordinary Shares & Irrevocable Undertaking

ReNeuron Group
Posted on: 11 Jan 18

Capitalised terms not otherwise defined herein shall have the same meaning given to such terms in the circular issued by the Company on 5 January 2018 (the “Circular”).


ReNeuron Group plc (AIM: RENE), a UK-based global leader in the development of cell-based therapeutics, today makes the following announcement in connection with the proposed Share Capital Reorganisation of the existing ordinary share capital of the Company announced on 5 January 2018 (the “Announcement”). 


As notified in the Announcement, the Company intended to issue 59 new Ordinary Shares to Michael Hunt, the Company Secretary and Chief Financial Officer.  Such shares were to be issued to ensure, for the purposes of the Share Capital Reorganisation, that the Company’s issued share capital is exactly divisible by 100 and to finance the Buy-Back of the New Deferred Shares. 


The Company today announces that Michael Hunt has been issued 59 new Ordinary Shares of 1 pence each in the capital of the Company, at a subscription price of 1.825 pence per share. 


Following this share subscription, Michael Hunt's total beneficial interest in the Company is 2,008,530 Ordinary Shares, representing 0.063% per cent of the Company's total voting rights.


The Company now has 3,164,618,600 Ordinary Shares in issue, all with voting rights. The Company holds no Ordinary Shares in treasury.  The figure of 3,164,618,600 Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure and Transparency Rules.


Since the publication of the Announcement and Circular the Company has received a further irrevocable undertaking from Invesco Asset Management Limited. This is in addition to the irrevocable undertakings which the Company had previously received from each of Woodford Investment Management Ltd (acting as discretionary investment manager and agent for and on behalf of the investment funds managed by it) and the Wales Life Sciences Investment Fund LP, as previously announced.


Consequently, irrevocable undertakings have now been received in respect of, in aggregate, 1,721,894,944 Existing Ordinary Shares representing, in aggregate, approximately 55.41 per cent. of the Existing Ordinary Shares to vote in favour, or procure the vote in favour, of the Resolutions to be proposed at the General Meeting.







+44 (0)20 3819 8400

Olav Hellebø , Chief Executive Officer


Michael Hunt, Chief Financial Officer



+44 (0) 20 7466 5000

Mark Court, Sophie Wills, Stephanie Watson




Stifel Nicolaus Europe Limited

+44 (0) 20 7710 7600

Jonathan Senior, Stewart Wallace, Ben Maddison (NOMAD and Joint Broker)


Nplus1 Singer Advisory LLP

+44 (0) 20 7496 3000

Mark Taylor (Joint Broker)

Editor's Details

Mike Wood

Last updated on: 11/01/2018

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