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Anteris Technologies Global Corp. — Capital/Financing Update 2012
Apr 23, 2012
33869_rns_2012-04-23_c6c7f40b-4927-4b5f-ac7a-75bd061b3e4a.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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Allied Closes Rights Issue Capital Raising
- $2M placement completed in March
Half of the funds to be used to increase ownership of Coridon
Brisbane, Australia, 24[th] April, 2012
Allied Healthcare Group (ASX: AHZ) announced today that is has completed its Rights Issue with over 40% of the Rights entitlements accepted raising $1.9M. The Company also has strong interest in taking up the shortfall which the Company will seek to place this in the near term to raise the total $4.3m. The funding from the Placement and Rights Issue will allow the Company to achieve several major milestones, including the initial product approval for Celxcel and the start and completion of the Coridon Phase I study.
The capital raising was strongly supported by new and existing shareholders. Allied’s largest shareholder, The Metal Group, has strongly supported the Rights Issue and has increased its percentage holding in the Company to over 17%. The Rights Issue was also strongly supported by the board and management taking up their entitlements.
“This capital raising places Allied in a very strong financial position and enables us to achieve major milestones in the Celxcel and Coridon businesses,” said Allied Healthcare Group CEO Mr Lee Rodne. “It removes any concerns about future funding for the Company and allows us to focus on achieving our very important, near term value creating milestones.”
Allied Healthcare Group will use around half of the funds raised to invest further into Coridon as it moves towards the initial Phase I study, and as it progresses the HPV therapeutic vaccine program.
Some funds will be used to support the regulatory filing and product launch activities of Celxcel for its CardioCel product, which is currently preparing marketing approval applications for the major global markets.
The Company will also look to allocate some working capital into the Allied Medical sales and distribution business to ensure that product supply remains fully supported as well as looking to identify possible additional products to add to the existing product range, one of the most extensive in Australia and New Zealand in the infusion and cardiac market.
“We welcome new shareholders to Allied and we thank our existing shareholders for their ongoing support,” said Allied Healthcare Group Chairman Mr Chris Catlow.
RBS Morgans acted as Lead Manager to the placement and the Rights Issue.
ABN 35 088 221 078 Level 1, 197 Adelaide Terrace Perth Western Australia 6000 PO Box 6879 East Perth Western Australia 6892
T +61 (0)8 9266 0100 F +61 (0)8 9266 0199 E [email protected]
www.alliedhealthcaregroup.com.au
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For more information, please contact:
Dr Julian Chick, Chief Operating Officer Allied Healthcare Group Tel: +61 3 9620 5454
Media: Paul Dekkers Buchan Consulting +61 2 9237 2800 [email protected]
About Allied Healthcare Group Limited
Allied Healthcare Group Limited (ASX: AHZ) is a diversified healthcare company focused on investing in and developing next generation technologies with world class partners, acquiring strategic assets to grow its product and service offerings and expanding revenues from its existing profitable medical sales and distribution business. The Company has assets from Research & Development through Clinical Development as well as Sales, Marketing and Distribution.
Allied Healthcare Group is in the process of commercializing its innovative tissue engineering technology for regenerative medicine and is a major investor in Brisbane based Coridon Pty Ltd, led by Professor Ian Frazer developing next generation vaccines for global markets.
Further information on the Company can be found on www.alliedhealthcaregroup.com.au.
ABN 35 088 221 078 Level 1, 197 Adelaide Terrace Perth Western Australia 6000 PO Box 6879 East Perth Western Australia 6892
T +61 (0)8 9266 0100 F +61 (0)8 9266 0199 E [email protected]