REG - SkinBioTherapeutics - Result of Placing

SkinbiotherapeuticsAnnouncement

17/11/2023 07:00

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RNS Number : 7583T  SkinBioTherapeutics PLC  17 November 2023

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17 November 2023

 

SkinBioTherapeutics plc

 

("SkinBioTherapeutics" or the "Company")

 

Result of Placing

 

 

SkinBioTherapeutics plc (AIM: SBTX or the "Company") a life sciences company
focused on skin health, is pleased to announce that, further to the
announcement made on 16 November 2023 regarding the Placing (the "Launch
Announcement"), it has raised £3.0 million (before expenses) via the placing
of 15,908,298 Placing Shares at the Issue Price of 19 pence per share. The
Placing was undertaken through an accelerated bookbuild and was materially
oversubscribed.

 

The Placing Shares will, when issued, represent, in aggregate, circa 9.2 per
cent. of the Company's issued ordinary share capital immediately prior to the
Placing.

 

The Placing Price of 19 pence per Placing Share represents a 9.5 per cent.
discount to the closing middle market price of 21 pence per Ordinary Share on
15 November 2023, being the last practicable dealing date prior to the
publication of the Launch Announcement.

 

A further announcement will be made on 21 November 2023 announcing the result
of the Retail Offer.

 

 

Application for Admission to Trading

The Placing Shares, when issued, will be fully paid and will rank pari passu
in all respects with the Existing Ordinary Shares, including the right to
receive all dividends and other distributions declared, made or paid after the
date of issue.

 

Application has been made for the Placing Shares to be admitted to trading on
AIM ("Admission"). It is expected that Admission will take place on or before
8.00 a.m. on 22 November 2023 and that dealings in the Placing Shares on AIM
will commence at the same time.

 

The Placing is conditional upon, among other things, the Placing Agreement not
being terminated in accordance with its terms and Admission becoming
effective.

 

Capitalised terms used in this announcement (this "Announcement") have the
meanings given to them in the Launch Announcement, unless the context provides
otherwise.

 

 

For further information

 

 

 SkinBioTherapeutics plc                                    Tel: +44 (0) 191 495 7325

 Stuart J. Ashman, CEO

 Manprit Randhawa, CFO
 Cavendish Securities plc (Nominated Adviser & Broker)      Tel: +44 (0) 20 7397 8900

 Giles Balleny, Dan Hodkinson (Corporate Finance)

 Charlie Combe (Corporate Broking)

 Dale Bellis, Tamar Cranford-Smith (Sales)
 Instinctif Partners (financial press)                      Tel: +44 (0) 20 7457 2020

 Melanie Toyne-Sewell / Tim Field                              SkinBio@instinctif.com (mailto:SkinBio@instinctif.com)

 

 

 

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