PHC Plant Health Care Plc

TIDMPHC

RNS Number : 8858D

Plant Health Care PLC

24 February 2020

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) 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 THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

24 February 2020

Plant Health Care

( " Plant Health Care ", " PHC" or the " Company")

Results of Placing and Subscription

Plant Health Care, a leading provider of novel patent-protected biological products to global agricultural markets, announces that, further to its announcement at 7.00 a.m. today, it has successfully completed the Fundraising which is now closed.

The conditional Placing and Subscription has raised approximately $4.6 million (before expenses) through the placing of new Ordinary Shares of GBP0.01 each ( " Ordinary Shares ") with investors at an Issue Price of 8 pence per share. The Fundraising was substantially over-subscribed.

Director participation

The following Directors of the Company participated in the Fundraising:

 
 Name of Director    Number of Fundraising      Total Ordinary          Total interest 
                         Shares subscribed    Shares following         in the enlarged 
                                       for     the Fundraising    issued share capital 
 Chris Richards                    500,000           2,733,015                    1.1% 
                    ----------------------  ------------------  ---------------------- 
 Richard Webb                      250,000           1,265,264                    0.5% 
                    ----------------------  ------------------  ---------------------- 
 Jeffrey Tweedy                     48,460              66,364                   <0.0% 
                    ----------------------  ------------------  ---------------------- 
 Jeffrey Hovey                      29,076              29,076                   <0.0% 
                    ----------------------  ------------------  ---------------------- 
 William Lewis                     193,843             630,463                    0.3% 
                    ----------------------  ------------------  ---------------------- 
 

General Meeting

A Circular explaining the background to and reasons for the Placing and Subscription, and containing the Notice of General Meeting which will take place at 11.00 a.m. on 16 March 2020 at the offices of DWF Law LLP at 20 Fenchurch Street, London, EC3M 3AG, will be posted on 25 February 2020. A copy of the Circular and Notice of General Meeting will be made available on the Company ' s website.

Admission

Completion of the Placing and Subscription remains subject, inter alia, to the passing of the Fundraising Resolutions at the General Meeting and to Admission of the Fundraising Shares. It is expected that dealings in the Fundraising Shares will commence at 8.00 a.m. on 18 March 2020 (or such time and/or date as the Company and Arden may agree, being not later than 31 March 2020).

Chris Richards, CEO of PHC, said:

" The Board of Plant Health Care is delighted to have the support of shareholders in this fund-raise. The Company is committed to delivering profitable revenue growth in line with market expectations and to driving the successful launch of the first products from the PREtec platform. These additional funds will ensure that the Company is well resourced to deliver on this plan."

Capitalised terms in this Announcement shall have the same meanings given to such terms in the Company ' s announcement at 7.00 a.m. today.

For further information, please contact:

Plant Health Care plc

Chris Richards, CEO Tel: +1 919 926 1600

Arden Partners plc - Nomad & Broker

John Llewellyn-Lloyd / Dan Gee-Summons Tel: +44 (0) 20 7614 5900

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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February 24, 2020 04:18 ET (09:18 GMT)

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