AMED Amedeo Res

RNS No 2946d
CHIROSCIENCE GROUP PLC
1st September 1998 
 
 
            COMPLETION OF THE ACQUISITION OF 30% SHAREHOLDING IN
                 CHIROTECH BY ASCOT, AND ADDITIONAL LISTING
 
Chiroscience  Group  plc  ("Chiroscience")  and  Ascot  plc  ("Ascot")  today
announce the completion of the acquisition by Ascot of a 30% shareholding  in
Chiroscience's  subsidiary  company, Chirotech  Technology  Limited  for  #30
million.  Full details of this transaction were announced on 10 August 1998.
 
Chirotech  Technology Limited ("Chirotech") is the new name for  Chiroscience
Limited, the original operating company of the Chiroscience Group.   As  part
of the completion arrangements for the sale of shares in Chirotech, and as  a
condition of its completion by Ascot, on 28 August 1998 Dr Andy Richards,  an
Executive Director of Chiroscience, exercised the last remaining options over
shares in Chirotech, these options having been granted to him in 1993,  prior
to the flotation of Chiroscience.
 
Dr  Richards  exercised options to acquire 45,000 shares in Chirotech  which,
under put and call arrangements fixed on the grant of the options in 1993 (as
disclosed  on pages 34 and 35 of the Annual Report and Accounts  1998),  have
entitled  him  to acquire 270,000 new shares in Chiroscience at an  effective
exercise  price  of  25p per share.  Accordingly, at a board  meeting  on  28
August  1998  270,000 ordinary shares of 5p each in Chiroscience were  issued
and  application for the listing of these shares has been made to the  London
Stock  Exchange.  As a result, Dr Richards' shareholding in Chiroscience  has
increased  by  270,000 to 309,214 Ordinary Shares (0.28% of the issued  share
capital) and his interest in options over Ordinary Shares in the company  has
decreased by 270,000 to 265,889.
 
For further information contact:
Dr John Padfield, Chief Executive                 Giles Sanderson
Ms Christine Soden, Finance Director              Victoria Springett
Rebecca Iveson, Media and Investor Relations      Financial Dynamics
Tel:+44 (0) 1223 420430                      Tel:+44 (0) 171 831 3113
http://www.chiroscience.com
 
NOTES TO EDITORS
 
Chiroscience Group plc

Chiroscience Group plc is an emerging pharmaceutical company which  uses  its
diverse  technology platform to discover, develop and bring to  market  novel
medicines  for  improved  healthcare.  It has three businesses:  Chiroscience
R&D, Rapigene and ChiroTech.
 
Chiroscience  R&D's focus is on innovative small molecule drugs  and  related
diagnostics   in  the  therapeutic  areas  of  cancer,  inflammation,   pain,
osteoporosis  and  autoimmune diseases.  Its technology platform  allows  the
conception  and  development  of receptor-based and  enzyme-inhibiting  small
molecule drugs with high selectivity of action.
 
Rapigene  is  involved in the creation of genomic technologies and  services,
which  it  provides to Chiroscience R&D and partner companies' drug discovery
programmes.
 
ChiroTech  provides chiral technology services to pharmaceutical and  related
industries, including Chiroscience R&D.
 
Chiroscience Group plc is listed on the London Stock Exchange and is based in
Cambridge and Stevenage, UK, and Seattle, Washington, USA.
 

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