Proposed placing
30th Apr 2010
The Board of PDX, the developer of the PDX platform technology, has approved and
is pleased to announce a proposed placing (the “Placing”) of 4,000,000 new ordinary
shares of 1p each in the share capital of the Company (“Placing Shares”) at £2.50 per
share; this will raise £10 million before expenses.
PDX has entered into a placing agreement pursuant to which the Placing Shares have
been conditionally placed with institutional investors on behalf of the Company.
Mirabaud Securities LLP, as brokers to the Company, arranged the Placing.
Roel Pieper, CEO of PDX, commented:
“I am delighted to be announcing this proposed placing that is at a premium to
yesterday’s closing share price and which will provide us with substantial capital to
continue to invest in the exciting opportunities that our lines of business present. This
fundraising demonstrates further the Company’s strong shareholder support and I am
looking forward to meeting our commercial objectives.”
The Placing will provide PDX with additional capital to accelerate the development of
the Company’s core lines of business presented at the investor and analyst
presentation on Tuesday of this week. These are decontamination, brewing, fire
suppression and bio-fuels. The full statement providing an update on each of the lines
of business was released on Tuesday 27
Application has been made for the Placing Shares to be admitted to trading on AIM
and it is anticipated that admission will become effective, and that trading in the
Placing Shares on AIM will commence, on 6th May 2010.
- Ends
