Venn Life Sciences Holdings PLC Financing Update (3608V)
08 Abril 2019 - 01:00AM
UK Regulatory
TIDMVENN
RNS Number : 3608V
Venn Life Sciences Holdings PLC
08 April 2019
8 April 2019
Venn Life Sciences Holdings Plc
("Venn" or the "Company")
Financing Update
Venn Life Sciences, an Integrated Drug Development Partner
offering a combination of drug development expertise and clinical
trial design and management to pharmaceutical, biotechnology and
medical device organisations, announces that Raglan Capital
Limited, of whom Cathal Friel is a principal and owner, has
subscribed for loan notes of GBP250,000 with a term of 13 months
and a 8% coupon. The interest on the notes will be paid annually.
The issue of the loan notes follows the previously announced
financing of 11 December 2018 albeit on improved terms for the
Company i.e. at a lower coupon and without any warrants or
convertibility. The proceeds of the loan note will be applied to
the Company's working capital.
Related Party Transaction
The subscription by Raglan Capital is considered a related party
transaction for the purposes of Rule 13 of the AIM Rules for
Companies. The Directors (other than Cathal Friel) consider, having
consulted with Arden Partners, the Company's nominated adviser,
that the terms of the subscription by Raglan Capital are fair and
reasonable in so far as its Shareholders are concerned.
Enquiries:
Venn Life Sciences Holdings Plc Tel: +353 1 5499 341
Tony Richardson, Chief Executive Officer
Arden Partners (Nominated Advisor and Joint Broker) Tel: +44
(0)20 7614 5900
John Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer
Davy (ESM Adviser and Joint Broker) Tel: +353 (0)1 679 6363
Fergal Meegan / Matthew de Vere White (Corporate Finance)
About Venn Life Sciences
Venn Life Sciences is an Integrated Drug Development Partner
offering a unique combination of drug development expertise and
clinical trial design and management to pharmaceutical,
biotechnology and medical device organisations. Venn have dedicated
operations in France, Germany, the Netherlands, the UK, Ireland
with partners across Europe and the US.
Further information in relation to Venn Life Sciences
www.vennlifesciences.com
Venn life Science: getintouch@vennlife.com
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END
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