Loan Agreement
29 Décembre 2004 - 12:52PM
UK Regulatory
RNS Number:8725G
Cytomyx Holdings PLC
29 December 2004
For immediate release 29 December 2004
CYTOMYX HOLDINGS PLC
("Cytomyx" or the "Company")
Cytomyx Holdings Plc ("Company")
Agreement with Laurus
The Company is pleased to announce that it entered into a three year secured
convertible loan agreement on 24 December 2004 with Laurus Master Fund, Ltd.
("Laurus"), pursuant to which Laurus has made a working capital facility of up
to US$2,500,000 available to the Company. Interest is payable on any
outstanding amount at the rate of Wall Street 'prime rate' plus 3%, which will
be reduced if the Company's shares achieve certain price levels. Any amount
outstanding under this facility is convertible into ordinary shares of the
Company, at either the Company's or Laurus' option, at a fixed conversion price
of 15 pence per share if Laurus exercise their conversion right, or the lower of
15 pence per share or 85% of the then closing price for a Cytomyx share if the
conversion right is exercised by the Company. Under the terms of the agreement,
Laurus has warranted that it will not engage in "short sales" of the Company's
shares and furthermore is restricted from holding more than 3% of the Company's
share capital as a result of conversion of the loan at any one time. The
Company has also today granted Laurus an option to subscribe for 3,033,333 new
ordinary shares in Cytomyx at 19 pence per share, exercisable at any time until
27 December 2011.
For further information, please contact:
Cytomyx Holdings plc
Mike Kerins, Chief Executive +44 1223 508191
Buchanan Communications +44 20 7466 5000
Mark Court/Mary-Jane Johnson
The Wall Street Group, Inc. +1 212 888 4848
Ron Stabiner
Notes for editors
About Cytomyx Holdings plc
Cytomyx Holdings plc is a rapidly growing life science company based in
Cambridge, UK. Its four operating subsidiaries - Cytomyx Ltd, Clinomics
Biosciences, Inc., Cambridge BioScience Ltd and Cytocell Technologies Ltd -
develop and market a wide range of products and services to the pharmaceutical,
diagnostics and academic research markets. Cytomyx is listed on the AIM market
of the London Stock Exchange. For more information please see
www.cytomyx-holdings.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRUKVARSRRUUAA
Cytomyx (LSE:CYX)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Cytomyx (LSE:CYX)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024
Real-Time news about Cytomyx Hldgs (London Stock Exchange): 0 recent articles
Plus d'articles sur Cytomyx Hldgs Plc