Home > Press > Oxonica Completes £2.6 million Rights Issue
The Group has raised approximately £2.6 million through the issue of 38,478 new ordinary shares £67.89 per share.
Oxonica Completes £2.6 million Rights Issue and Employee Subscription
February 7, 2005
Oxonica Limited, a leading European group developing commercial solutions based on nanotechnology, announces today that it has completed a further round of financing, through a Rights Issue and Employee Subscription.
The Group has raised approximately £2.6 million through the issue of 38,478 new ordinary shares £67.89 per share. This includes 2,006 shares issued to employees who were invited to subscribe for shares at the Rights Issue price. The issue was substantially underwritten by Seighford Investment Company Limited and Mr Richard Farleigh, both of whom were founder investors in Oxonica and was well supported by the Group’s shareholders, including the three largest investors; BASF Venture Capital GmbH, Foresight Technology VCT and TriVest VCT.
As well as raising additional funds, the Rights Issue triggered a previously agreed restructuring of the Group’s share capital as a result of which Oxonica now has a single class of ordinary shares.
The greater part of the proceeds will be used to provide working capital and to support the global commercial roll-out of the Group’s market leading products; Envirox (Tm) Fuel Borne Catalyst and Optisol (TM) UV Absorber. Envirox has already been adopted by Stagecoach Group plc for use in its UK bus fleet and an agreement has also been signed with DMX Technology Corp to distribute the product into premium branded diesel fuel in the Philippines, in partnership with BASF. Optisol has been selected by Boots Group as the UV filter for incorporation into their new range of Soltan Facial Suncare products.
Commenting on the Rights Issue, Dr Kevin Matthews, Oxonica’s Chief Executive said:
“We are delighted with the response to the Rights Issue, particularly as it demonstrates a high degree of confidence on the part of both shareholders and employees in Oxonica as it begins the full-scale, global commercialisation of a number of key technologies.”
Richard Clarke, Oxonica’s CFO added:
“Following the Rights Issue and associated restructuring, Oxonica now has a straightforward capital structure, which will facilitate future corporate development. Most importantly, it has successfully raised funds to take the company to the next stage of growth.”
+44 1865 856700
Island House, Forest Road, Guernsey, GY8 0AB, UK
+44 (0) 1481 233080
Fax +44 (0) 1481 233082
Copyright © Oxonica
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Elsevier Business Intelligence (EBI) to Host 'IN3 Medical Device 360 Boston,' June 24-26, 2013 May 20th, 2013
Aspen Aerogels Announces $22.5 Million Private Placement May 18th, 2013
Harris & Harris Group Notes the Sale of a Second D-Wave Quantum Computer May 16th, 2013
Nanometrics Announces Upcoming Investor Events May 14th, 2013
How do cold ions slide May 24th, 2013
Heinrich Rohrer dies at 79; a father of nanotechnology: With IBM colleague Gerd Binnig, Rohrer invented the scanning tunneling microscope, which can show individual atoms on a surface and move them around May 23rd, 2013
Gold nanocrystal vibration captured on billion-frames-per-second film May 23rd, 2013
Glowing Plant Releases Maker Kit, Enabling Anyone to Make a Glowing Plant at Home: Glowing Plant seeks funds via crowdfunding and raises almost $400,000 May 23rd, 2013
Nanobiotix Revenue for the 1st quarter of 2013 May 15th, 2013
Harris & Harris Group Reports Financial Statements as of March 31, 2013 May 10th, 2013
Arrowhead Reports Fiscal 2013 Second Quarter Financial Results - Conference Call Today at 4:30 p.m. Eastern Time May 9th, 2013
Arrowhead to Report Fiscal 2013 Second Quarter Financial Results - Conference Call Scheduled for Thursday, May 9, 2013 May 2nd, 2013