Issue of Equity
01 Novembre 2006 - 8:02AM
UK Regulatory
RNS Number:3387L
Byotrol PLC
01 November 2006
BYOTROL PLC
Placing to raise #5 million to accelerate growth
The Board of Byotrol plc (the "Company") is pleased to announce that Charles
Stanley Securities has, on behalf of the Company, completed a placing (the
"Placing") of 8.34 million new Ordinary Shares of 0.25p each (the "Placing
Shares") at 60 pence per share to raise approximately #4.6 million, net of
expenses.
The funds will be used by the Directors to address an increasing number of
opportunities that have been recently identified in the Company's target markets
of Healthcare, Food Processing and Industrial & Technical.
The Company recently obtained CE Marking status approving Byotrol for sale in
medical and disinfectant products in Europe and approval from the US Environment
Protection Agency for Byotrol to be used as a disinfectant, sanitiser and anti-
microbial product in a broad number of market sectors. As a result the Company
has been approached by several major multinationals interested in gaining access
to the Company's technology and the Company is currently engaged in discussions
with a number of these companies regarding the sale and/or licensing of Byotrol.
It is expected that the placing proceeds will assist the progress of such
discussions.
The Placing Shares will, when issued and fully paid, rank pari passu in all
respects with the existing issued ordinary shares of the Company.
The Placing is not a rights issue or open offer and the Placing Shares will not
be offered generally to Shareholders, whether on a pre-emptive basis or
otherwise. The Directors believe that the considerable extra cost and delay
involved in a rights issue or open offer would not be in the best interests of
the Company in the circumstances.
Richard Bell, a consultant to the Company, has acquired 10,000 Placing Shares,
pursuant to the Placing, and accordingly now owns 10,000 Ordinary Shares in the
Company.
Application has been made for the Placing Shares to be admitted to trading on
AIM and trading in the Placing Shares is expected to commence on Tuesday 7
November 2006. Following the admission of the Placing Shares to trading on AIM,
the Company will have 43,212,849 Ordinary Shares in issue.
Charles Stanley Securities has also placed a further 1,500,000 ordinary shares
on behalf of Mr Ragnar Olaffson, representing 4.30 per cent. of the current
issued share capital, with institutional investors at a price of 60p. Following
this, Mr Olaffson holds 1,298,000 ordinary shares, representing 3.72 per cent.
of the current issued share capital and 3.00 per cent. of the issued share
capital as enlarged by the Placing.
1 November 2006
Enquiries:
Byotrol plc 0161 277 9518
Stephen Falder
Deputy Chairman
David McRobbie
Chief Executive
Charles Stanley Securities 020 7149 6457
Philip Davies
First City PR 0207 436 7486
Allan Piper
McCann Erickson PR 01625 822540
Jim Rothnie
This information is provided by RNS
The company news service from the London Stock Exchange
END
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