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RECCE PHARMACEUTICALS LTD — Capital/Financing Update 2017
Oct 22, 2017
65669_rns_2017-10-22_5e030e5b-b82f-4323-a2c9-5a526d5dfb87.pdf
Capital/Financing Update
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ASX Announcement
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Completion of Share Purchase Plan Offer
SYDNEY Australia 23 October 2017: Recce Limited (ASX: RCE), a pre-clinical-stage pharmaceutical company engaged in the development of a new class of synthetic antibiotics, today announced the successful completion of its Share Purchase Plan Offer ( SPP Offer ) of new fully paid ordinary shares at $0.175 per share ( New Shares ).
The SPP Offer closed at 5.00pm (AEDST) on Wednesday, 18 October 2017. The Board has taken the decision to accept all valid applications. Recce has accepted applications from 171 registered shareholders totalling $946,500, equivalent to 5,408,487 New Shares.
Recce Executive Chairman Dr Graham Melrose said: “We are encouraged by the strong support received from our shareholders”.
The New Shares are expected to be issued on Wednesday, 25 October 2017, with holding statements expected to be despatched to participating shareholders on Thursday, 26 October 2017.
About Recce Ltd
Recce Limited (ASX: RCE) is pioneering the development and commercialisation of a new class of synthetic antibiotics with broad spectrum activity designed to address the urgent global health problem of antibiotic resistant superbugs. Its patented lead candidate known as RECCE[®] 327 is being developed for the treatment of sepsis derived from S. aureus and E. coli bacteria – including their superbug forms. Pre-clinical testing in laboratory and animal models has demonstrated positive results to date. Recce has a manufacturing facility in Australia and clinical research partners in the USA. It has validated an automated process to manufacture its lead compound ahead of first-in-man clinical trials.
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For further information please visit www.recce.com.au or contact:
Investor Relations
Peter Williams CFO & Company Secretary Recce Ltd Tel: (08) 9253 9800
Media (Australia) Media (International) Andrew Geddes Sue Charles/Gemma Harris CityPR Instinctif Partners Tel: (02) 9267 4511 Tel: +44 (0)20 7866 7860 E: [email protected]
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