REG - RUA Life Sciences - Result of Retail Offer

Rua Life SciencesAnnouncement

08/12/2023 07:00

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RNS Number : 1026W  RUA Life Sciences PLC  08 December 2023

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ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
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8 December 2023

 

 

 

RUA LIFE SCIENCES PLC

("RUA Life Sciences", the "Company" or the "Group")

 

Result of Retail Offer

 

 

Further to the announcement dated 30 November 2023, RUA Life Sciences plc
(AIM: RUA.L), the holding company of a group of medical device businesses
focused on the exploitation of Elast-Eon™, the world leading long-term
implantable biostable polyurethane, is pleased to announce that, following the
closing of the Retail Offer on the BookBuild platform on 7 December 2023,
2,784,566 Ordinary Shares will be issued at the Issue Price of 11 pence per
Retail Offer Share in connection with the Retail Offer, raising an additional
£0.31 million.

 

Consequently, conditional on the passing of the Resolutions at the General
Meeting (and, in relation to the Subscription Shares only, the announcement of
Group's interim accounts ending the closed period), 36,363,636 Placing Shares,
727,272 Subscription Shares and 2,784,566 Retail Offer Shares, resulting in a
total of 39,875,474 new Ordinary Shares, will be issued in relation to the
Placing, Subscription and Retail Offer, raising total gross proceeds of £4.4
million.

 

Admission and Total Voting Rights

 

Application has been made for the Retail Offer Shares to be admitted to
trading on AIM ("Admission"). Admission is expected to take place at 8.00 a.m.
on or around 19 December 2023.

 

The Retail Offer Shares will, when issued, be credited as fully paid up and
will have the same rights as the Existing Ordinary Shares including, voting,
dividend, return of capital and other rights, and will on issue be free of all
claims, liens, charges, encumbrances and equities.

 

Following Admission, the total number of Ordinary Shares in the capital of the
Company in issue will be 62,060,272 with each Ordinary Share carrying the
right to one vote. There are no shares held in treasury and therefore,
following Admission, the total number of voting rights in the Company will be
62,060,272. The above 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.

 

Capitalised terms used in this announcement have the meaning given to them in
the Placing and Retail Offer announcement dated 30 November 2023, unless
otherwise defined in this announcement.

 

For further information contact:

 

 

 RUA Life Sciences

 Bill Brown, Chairman                                                      Tel: +44 (0)1294 317073

 Caroline Stretton, Group Managing Director                                Tel: +44 (0)1294 317073

 Cavendish Capital Markets                                                 Tel: +44 (0)20 7220 0500
 Limited

 (Nominated Adviser and Broker)

 Giles Balleny/Dan Hodkinson (Corporate Finance)

 Charlie Combe (ECM)

 Michael Johnson (Sales)

 

 

About RUA Life Sciences

 

The RUA Life Sciences group was created in April 2020 when RUA Life
Sciences Plc (formerly known as AorTech International Plc) acquired RUA
Medical Devices Limited to create a fully formed medical device
business. RUA Life Sciences is the holding company of the Group's four
trading businesses, each exploiting the Group's patented polymer technology.

 

Our vision is to improve the lives of millions of patients by enabling medical
devices with Elast-Eon(TM), the world's leading long-term implantable
polyurethane. Whether it is licensing Elast-Eon(TM), manufacturing a device or
component, or developing next generation medical devices, a RUA Life
Sciences business is pursuing our vision.

 

Elast-Eon™'s biostability is comparable to silicone while exhibiting
excellent mechanical, blood contacting and flex-fatigue properties. These
polymers can be processed using conventional thermoplastic extrusion and
moulding techniques. With over 8 million implants and 15 years of successful
clinical use, RUA's polymers are proven in long-term life enabling
applications.

 

The Group's four business units are:

 

 RUA Contract Manufacture:  End-to-end contract developer and manufacturer of medical devices and
                            implantable fabric specialist.

 RUA Biomaterials:          Licensor of Elast-Eon(TM) polymers to the medical device industry.

 RUA Vascular:              Commercialisation of open surgical vascular grafts and patches

 RUA Structural Heart:      Development of polymeric leaflet systems for heart valves.

 

This announcement should be read in its entirety. In particular, the
information in the "Important Notices" section of the announcement should be
read and understood.

 

 

 

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