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Firm Placing Raises £3.4 million

10th March 2016

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE
ANY ORDINARY SHARES OF SEAL IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. IN PARTICULAR, YOU SHOULD READ AND UNDERSTAND THE INFORMATION PROVIDED IN THE "IMPORTANT NOTICES" SECTION AND IN THE APPENDICES.

Scancell Holdings plc (LSE:AIM SCLP) ("Scancell" or the "Company"), the developer of novel immunotherapies for the treatment of cancer, is pleased to announce the successful completion of the Firm Placing announced earlier today.

The Company has conditionally raised, in aggregate, £3.4 million (before expenses) by way of the placing of 20,000,000 new ordinary shares at the placing price of 17 pence per share. The Placing Price represents a
discount of 16 per cent. to the mid-market closing price on 8 March 2016, being the last practicable date prior to the date of this announcement.
The new ordinary shares will be issued credited as fully paid and will be identical to, and rank pari passu in all respects with, the Existing Ordinary Shares following the date of Admission.

A circular to shareholders, including further details of the Open Offer will be despatched to shareholders on or around 11 March 2016 and will also be available on the Company's website, www.scancell.co.uk., at this
time.

Director Dealings
All of the Directors of the Company have participated in the Firm Placing, as set out in the table below:

 

As at the date of this
announcement

   

Following Admission*

 
 

Ordinary shares

percentage of issued Ordinary Share capital

Firm Placing Shares

Ordinary
shares

percentage of issued Ordinary Share capital

Lindy Durrant #

10,480,920

4.66%

58,823

10,539,743

3.94%

Richard Goodfellow #

6,643,840

 

58,823

6,702,663

2.51%

John Chiplin

Nil

Nil

58,823

58,823

0.02%

Matthew Frohn

Nil

Nil

58,823

58,823

0.02%

Kate Cornish-Bowden

45,000

0.02%

58,823

103,823

0.04%

Sally Adams

Nil

Nil

58,823

58,823

0.02%

 

# In the table above, the number of Ordinary Shares held by two of the Directors includes their interests in joint ownership shares. Professor Lindy Durrant has an interest in 8,873,960 joint ownership shares and Dr. Richard Goodfellow in 6,443,840 joint ownership shares.

* These numbers and percentages are calculated assuming that the Firm Placing completes and the Offer Shares are fully taken up by Shareholders other than the Directors and that none of the outstanding share options are exercised. It is possible that Directors will take up some or all of their basic and excess entitlements pursuant to the Open Offer and, if this occurs, the Company will make an announcement via a Regulatory Information Service at the appropriate time.

Scancell Holdings Plc
Dr Richard Goodfellow, Joint CEO
Professor Lindy Durrant, Joint CEO

+ 44 (0) 20 3727 1000

Panmure Gordon (Nominated Adviser and placing agent)
Robert Naylor/Paul Fincham, Corporate Finance
Maisie Atkinson, Sales

+44 (0) 20 7886 2500

Lesmoir-Gordon, Boyle & Co. Limited (Sub placing agent)
Angus Grierson

+44 (0) 20 7518 9892

FTI Consulting
Mo Noonan
Simon Conway

+ 44 (0) 20 3727 1000

 





All defined terms used in this announcement are defined, unless otherwise defined here, in the appendix to
the Proposed Placing and Open Offer announcement made earlier today.

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