Successful Placing and Subscription
No summary for this filing – the full text is below.
Select text to share a quote on X · sign in to keep highlights & notes in your GENF notes
MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
Genflow Biosciences Plc
Successful Placing and Subscription To Raise £715,000, Grant of Warrants and PDMR Notifications
Genflow Biosciences Plc (LSE:GENF) (OTCQB:GENFF) ("Genflow" or "the Company") which is rapidly becoming the major European exponent in the successful development of therapeutic longevity solutions for the prevention of age-related diseases, is pleased to announce it has raised, through its broker Capital Plus Partners, £715,000 (before expenses) by way of a placing and subscription of 57,200,000 new Ordinary Shares of 1.25 pence each (the "Placing") (the "Placing Shares").
Further, each two Placing Shares will have one warrant attached, exercisable at 2 pence per share for three years from the date of issue. Holders of these warrants will not, however, be able to exercise the same for a period of one year from the date of grant.
Director Participation
All Directors participated in the Placing with the CEO Dr Eric Leire investing £50,000 personally, the details of such participation are set out below. No Warrants are being issued to Directors.
Use of Proceeds
The net proceeds from the Placing will be used to continue development and associated clinical trials. The near-term clinical trials are aimed at a potential cure of the liver disease NASH which currently effects over 40 million people worldwide: in addition to conference participation and an enhanced investor relations program.
- Eric Leire, CEO of Genflow, commented: "We are delighted to have raised this additional funding, noting the participation of Premier Miton, a well-known UK institution. The success of this capital raise clearly reflects the growing interest among UK institutional investors in the field of longevity research. Interest amongst US institutional investors in the Longevity sector is already well ahead of Europe, but we believe we have a unique approach to address the growing issues of age-related diseases.
Broker Warrants
2,860,000 warrants were issued to Capital Plus Partners Ltd as part of its broker fee, on the same terms set out above.
Application for Admission
The new ordinary shares to be issued pursuant to the Placing will represent 19.56 per cent of the issued ordinary share capital of the Company prior to the Placing. The Company will apply for admission of the Placing Shares to listing on the standard listing segment of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange .The Placing Shares will rank pari passu in all respects with the existing ordinary shares of £0.0003 in the capital of the Company. The Placing Shares are expected to be admitted for trading on or around 9 April 2024.
Total Voting Rights
In accordance with the provision of the Disclosure Guidance and Transparency Rules of the FCA ("DTRs"), the Company confirms that, following admission, its issued share capital will comprise 349,706,618 Ordinary Shares, each of which carries the right to vote, with no Ordinary Shares held in treasury. This 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 Company under the DTRs
The Directors of the Company accept responsibility for the contents of this announcement.
PDMR Notifications
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Eric Leire | ||||
| 2. | Reason for notification | |||||
| a) | Position/Status | Chief Executive Officer | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| a) | Name | Genflow Biosciences Plc | ||||
| b) | LEI | 213800HVOFXRXVEGDN62 | ||||
| a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.0003 per share par value ISIN: GB00BP2C3V08 | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated Volume - Price | Single transaction as in 4 c) above Price(s) Volume(s) 1.25p 4,000,000 | ||||
| e) | Date of the transaction | 3 April 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Tamara Joseph | ||||
| 2. | Reason for notification | |||||
| a) | Position/Status | Non Executive Director | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| a) | Name | Genflow Biosciences Plc | ||||
| b) | LEI | 213800HVOFXRXVEGDN62 | ||||
| a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.0003 per share par value ISIN: GB00BP2C3V08 | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated Volume - Price | Single transaction as in 4 c) above Price(s) Volume(s) 1.25p 800,000 | ||||
| e) | Date of the transaction | 3 April 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Yassine Bendiabdallah | ||||
| 2. | Reason for notification | |||||
| a) | Position/Status | Non Executive Director | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| a) | Name | Genflow Biosciences Plc | ||||
| b) | LEI | 213800HVOFXRXVEGDN62 | ||||
| a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.0003 per share par value ISIN: GB00BP2C3V08 | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated Volume - Price | Single transaction as in 4 c) above Price(s) Volume(s) 1.25p 800,000 | ||||
| e) | Date of the transaction | 3 April 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Peter King-Lewis | ||||
| 2. | Reason for notification | |||||
| a) | Position/Status | Non Executive Director | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| a) | Name | Genflow Biosciences Plc | ||||
| b) | LEI | 213800HVOFXRXVEGDN62 | ||||
| a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.0003 per share par value ISIN: GB00BP2C3V08 | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated Volume - Price | Single transaction as in 4 c) above Price(s) Volume(s) 1.25p 800,000 | ||||
| e) | Date of the transaction | 3 April 2024 | ||||
| f) | Place of the transaction | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name | Guy Charles Fanneau de la Horie | ||||
| 2. | Reason for notification | |||||
| a) | Position/Status | Non Executive Director | ||||
| b) | Initial notification/ Amendment | Initial notification | ||||
| a) | Name | Genflow Biosciences Plc | ||||
| b) | LEI | 213800HVOFXRXVEGDN62 | ||||
| a) | Description of the financial instrument, type of instrument Identification Code | Ordinary Shares of £0.0003 per share par value ISIN: GB00BP2C3V08 | ||||
| b) | Nature of the transaction | Purchase of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated Volume - Price | Single transaction as in 4 c) above Price(s) Volume(s) 1.25p 800,000 | ||||
| e) | Date of the transaction | 3 April 2024 | ||||
| f) | Place of the transaction | Outside a trading venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.