AI assistant
RECCE PHARMACEUTICALS LTD — Capital/Financing Update 2015
Dec 29, 2015
65669_rns_2015-12-29_8b662735-464c-4825-8694-72a39e5f9592.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX ANNOUNCEMENT
==> picture [132 x 118] intentionally omitted <==
29 December 2015
Recce IPO Oversubscribed, Raising $5m
Australian early-stage pharmaceutical company, Recce Ltd (ASX: RCE) is pleased to announce that its Initial Public Offering (IPO) is oversubscribed, following strong support from institutional and retail investors.
The offer will result in the issue of 25 million shares at an issue price of $0.20 cents in the Company, raising $5 million and attracting approximately 390 new shareholders.
The Company has lodged an application for listing on the Australian Securities Exchange (ASX), and hopes to have its shares listed on or about 5 January 2016. The ASX ticker code for the Company will be RCE.
Recce’s Executive Chairman Dr Graham Melrose said, “The outcome of the IPO is a great result in a challenging investment environment. We believe the strong support from investors is a reflection of our unique technology which culminates in the synthesis of RECCE antibiotics - designed to kill, and keep on killing superbugs.”
“We thank Alan Hill and his team of the Lead Manager, State One Equities Pty Ltd for their valued support – and now wish to extend a warm welcome to our new shareholders.”
For further information please visit www.recce.com.au or contact:
Media Communication
Investor Relations Media Communication Peter Williams Karen Oswald – [email protected] CFO & Company Secretary Gary Buchholz – [email protected] Recce Ltd Marko Communications Tel: +61 8 9253 9800 Tel: +61 423 602 353
About Recce Ltd
Recce, led by Dr Graham Melrose, is a world-leader in synthetic-polymer antibiotics. RECCE antibiotics have been synthesised by an extremely simple and economic method.
RECCE antibiotics have shown in laboratory tests that they have continued activity against bacteria including superbugs, even after repeated use.
Recce is positioned to achieve milestones in both manufacturing of RECCE antibiotics, and the preclinical regulatory requirements - that should drive significant value for the Company.
==> picture [595 x 79] intentionally omitted <==