Venn Life Sciences Holdings PLC Update on the Acquisition of Evocutis plc (6000C)
18 Mars 2014 - 3:46PM
UK Regulatory
TIDMVENN TIDMEVO
RNS Number : 6000C
Venn Life Sciences Holdings PLC
18 March 2014
Venn Life Sciences Holdings Plc
("Venn" or the "Company")
Update on the Acquisition of the trading assets of Evocutis
plc
Issue of Consideration Shares
Venn Life Sciences (AIM: VENN), a growing Clinical Research
Organisation (CRO) providing clinical trial management and
resourcing solutions to pharmaceutical, biotechnology and medical
device clients, announces the following update on the acquisition
of the intellectual property rights in Labskin(TM), SYN1113 and
related equipment of Evocutis plc, for GBP210,000 in new ordinary
shares in Venn.
Further to the announcement issued on 13 March 2014 the Company
can confirm that it has issued 864,706 new ordinary shares to
Evocutis plc, at an effective price of 24.3 pence per share, in
consideration for the assets described above.
The new ordinary shares have been credited as fully paid and
will rank pari passu in all respects with the existing ordinary
shares of 0.1 pence each in the capital of the Company in issue,
including the right to receive all dividends and other
distributions declared, made or paid in respect of such shares
after the date of issue of the shares.
Following completion of the acquisition on admission of the new
ordinary shares on 19 March 2014, the Company's issued share
capital will consist of 22,927,283 ordinary shares. There are no
ordinary shares held in treasury. Therefore, in accordance with the
FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms
that following Admission, the total number of voting rights in the
Company will be 22,927,283.
Enquiries:
Venn Life Sciences Holdings Plc.
Tony Richardson, Chief Executive Officer Tel: +353 154 99 341
Paul Foulger, Finance Director Tel: 020 7933 8797
Orla McGuinness, Marketing Manager Tel: +33 (0)1 30 82 67 07
Zeus Capital (Nominated Adviser and
Broker)
Ross Andrews/Andrew Jones (Corporate Tel: 0161 831 1512
Finance)
John Goold/Dominic Wilson/Alex Davies Tel: 020 7533 7727
(Institutional Sales)
Walbrook PR Ltd Tel: 020 7933 8787 or venn@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
Additional Information:
About Venn Life Sciences Limited: www.vennlifesciences.com
Venn Life Sciences is a Clinical Research Organisation ("CRO")
providing a suite of clinical trial management services to
pharmaceutical, biotechnology and medical device organisations.
With operations in France, Germany, Ireland, the Netherlands,
Russia, the UK, and a branch office in Switzerland, the Venn Group
also includes a Clinical Resourcing business placing experienced
clinical teams and individuals on projects throughout Europe. The
company's near term objectives are the expansion of its CRO
business throughout Europe, whilst enhancing the portfolio of their
innovative technologies division, InnoVenn, with ground breaking
new products and services.
About Evocutis: www.evocutis.com
Evocutis plc is a dermatology company offering a unique
combination of contract research for laboratory testing, advanced
skin models and clinical testing, they provide a complete service
for the development of skincare products and ingredients, enabling
customers to develop products which actually work.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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