Scancell Holdings Plc, (PLUS:SCLP), the developer of therapeutic cancer vaccines, is pleased to report the results of the Open Offer that was announced on 5 March 2010. Under the Open Offer, a total of 5,137,775 New Ordinary Shares will be issued at a price of 45 pence per New Ordinary Share to raise approximately £2.31 million, before expenses, to fund the working capital requirements of the Company.
Results of the Open Offer
Admission and commencement of dealings in the New Ordinary Shares to be issued under the Open Offer are expected to take place at 8.00 a.m. on 30 March 2010. There will be a total of 15,413,326 ordinary shares in issue following Admission of the New Ordinary Shares.
The Company has been notified of the following dealings:
Mr David Evans, non-executive chairman, has subscribed for 250,000 New Ordinary Shares at 45p per share under the Open Offer. After Admission of the New Ordinary Shares the total holding of David Evans in the Company will amount to 510,000 ordinary shares (representing approximately 3.31 per cent. of the enlarged issued share capital).
Mr Michael Rippon, non-executive director, has subscribed for 55,000 New Ordinary Shares at 45p per share under the Open Offer. After Admission of the New Ordinary Shares the total holding of Michael Rippon in the Company will amount to 250,416 ordinary shares (representing approximately 1.62 per cent. of the enlarged issued share capital).
Mr Matthew Frohn, non-executive director, is also a director of Oxford Technology Management Limited which is the manager for the Oxford Technology VCT plc and the Oxford Technology 3 VCT plc. The Oxford Technology VCT plc has subscribed for 166,667 New Ordinary Shares and the Oxford Technology 3 VCT plc has also subscribed for 166,667 New Ordinary Shares under the Open Offer. After Admission of the New Ordinary Shares the total holding of the Oxford Technology VCT plc in the Company will amount to 833,330 ordinary shares (representing 5.41 per cent. of the enlarged issued share capital) and the total holding of the Oxford Technology 3 VCT plc in the Company will amount to 442,592 ordinary shares (representing 2.87 per cent. of the enlarged issued share capital).
David Evans, Chairman of Scancell Holdings plc, commented:
“We are very pleased that the Open Offer has been so well supported by existing shareholders.
The net proceeds of the Open Offer, together with the existing funds held by or available to the Group, will be used to build on the progress achieved since the Company’s admission to PLUS and will be sufficient to allow completion of the Phase I and Phase IIa Clinical Trial of Scancell’s lead melanoma vaccine, SC1B1.”
The Directors of the issuer accept responsibility for this announcement.
Cliff Holloway, CEO of Scancell Holdings PLC (LON:SCLP), speaks to Proactive London's Andrew Scott after announcing they're to kick off the UK arm of the phase II clinical trial of its flagship skin cancer drug.
The study will test the safety and efficacy of SCIB1 in 25 metastatic melanoma patients who are also receiving Merck’s checkpoint inhibitor Pembrolizumab.
Thu, 25 Apr 2019 10:56:00
The mid-stage study is testing Scancell’s flagship skin cancer immunotherapy in combination with Keytruda – the blockbuster checkpoint inhibitor developed by Merck
Thu, 25 Apr 2019 12:20:00
It follows on from similar awards in key markets such as the US, Europe, South Africa and Australia
Mon, 08 Apr 2019 08:20:00
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