Cientifica PLC Rainmaker Agreement Update (3426H)
16 Maggio 2014 - 12:15PM
UK Regulatory
TIDMCTFA
RNS Number : 3426H
Cientifica PLC
16 May 2014
Cientifica PLC
("Cientifica" or the "Company")
Update on the Option Agreement with Rainmaker Technologies
Limited
Cientifica, the AIM-quoted investment company focused on
investment in businesses making use of advanced materials, graphene
and emerging technologies, announces the following update to the
announcement dated 11 April 2014 of the call option agreement (the
"Option Agreement") it had entered into with Rainmaker Technologies
Limited ("Rainmaker"), a newly formed company which will design and
develop commercial applications of advanced materials such as
graphene.
Under the terms of the Option Agreement, Cientifica has been
granted three options under which it may subscribe for Rainmaker
ordinary shares ("Rainmaker Shares") which would amount to 49.9 per
cent. of the enlarged issued share capital of Rainmaker if all
three options were exercised in full.
The First Option, under which Cientifica will subscribe for 340
Rainmaker Shares for GBP100,000 in cash which will represent
approximately 25.4 per cent. of the enlarged issued share capital
of Rainmaker, was to be exercised by Cientifica on or before 15 May
2014 (or such later date as the parties might agree) provided that
Rainmaker has, by the exercise date, entered into a minimum of two
option agreements with certain companies focused on developing
commercial applications using graphene.
Rainmaker has advised Cientifica that it is in advanced
discussions with two such companies and is confident that agreement
can be reached with these companies. Accordingly, Rainmaker and
Cientifica have agreed that the First Option exercise date will now
be extended to 15 June 2014.
A further announcement will be made in due course.
16 May 2014
For further information, please contact:
Cientifica PLC
Tim Harper, Chief Executive +44 (0) 207 518 4300
Allenby Capital (Nominated Adviser)
Nick Naylor/ James Reeve +44 (0) 203 328 5656
Peterhouse Corporate Finance (Broker)
Lucy Williams / Heena Karani +44 (0) 207 469 0930
Lothbury Financial Services Limited
Michael Padley / Gary Middleton +44(0) 203 440 7620
This information is provided by RNS
The company news service from the London Stock Exchange
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