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Roquefort Investments plc: Conditional Placing to Raise £3 Million (Before Expenses)
Home / Client News / Roquefort Investments plc: Conditional Placing to Raise £3 Million (Before Expenses)

Roquefort Investments (LSE:ROQ), the London listed investment company established to acquire businesses focused on early-stage opportunities in the medical biotechnology sector, is pleased to announce that it has conditionally raised £3 million (before expenses) (the “Placing”) via the proposed issue of 30,000,000 new Ordinary Shares (the “Placing Shares”) at a price of 10 pence per new Ordinary Share (the “Placing Price”).

As announced on 18 November 2021 the Company has entered into a conditional share sale and purchase agreement (the “Acquisition Agreement”) with Provelmare Holding S.A. pursuant to which Roquefort Investments has agreed to acquire the entire issued share capital of Lyramid Pty Limited for an initial consideration of £1 million payable 50% in cash and 50% in shares (the “Acquisition”). The Acquisition is conditional, inter alia, on a successful Placing.

The net proceeds of the Placing are estimated at £2,560,000. The net proceeds, together with existing cash, are intended to be used to fund the cash component of the consideration for the Acquisition, pre-clinical drug development and working capital.



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