Rutherford Health - Issue of Equity London Stock Exchange
RNS Number : 9689X
Rutherford Health PLC
24 December 2019
 

 24 December 2019                       

RUTHERFORD HEALTH PLC

ISSUE OF EQUITY

Rutherford Health plc (the "Company" or "Group" or "Rutherford") has issued a notice under the Woodford Commitment, referred to in the Company's NEX Exchange Growth Market ("NEX") admission document, under which it has called for the subscription for 8,522,727 Rutherford ordinary shares of £0.001 each ("Ordinary Shares") at the maximum possible price under that agreement of £1.76 per Ordinary Share, in order to raise £15 million. The funds will be to provide additional working capital to support the Group's business plan. The Company does not intend to use the funds to repay debt

In addition, as stated in the Company's NEX admission document, the Group will be seeking additional funds, beyond those raised to date, to finance the fit out and commissioning of its fourth centre in Liverpool where the building is now complete and a further announcement will be made at the appropriate time.

The shares are being allocated to LF Equity Income Fund (Formerly LF Woodford Equity Income Fund) which will have 47,288,913 Ordinary Shares representing 25.12% of the Company's issued share capital. However, as previously disclosed, LF Equity Income Fund is restricted to 19.5% of the Company's voting rights.

Settlement and Dealings

Application has been made for the admission to trading on NEX of the 8,522,727 Ordinary Shares with admission expected to take place on or around 31 December 2019.

Total Voting Rights

Following Admission, the Company will have 188,235,133  Ordinary Shares in issue.

As previously disclosed, the number of total voting rights differs from the number referred to above because of the 19.50% limit on voting rights held by LF Equity Income Fund. Accordingly, for the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), Rutherford has 175,088,472 Ordinary Shares in issue with voting rights attached. Rutherford holds no shares in treasury. This figure of 175,088,472 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the DTRs.

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

The directors of Rutherford Health plc accept responsibility for this announcement.

Contacts

Rutherford Health plc

 

 

Michael Moran, Chief Executive Officer

Tel: +44 (0) 16 3381 0661

 

 

 

 

Grant Thornton (Corporate Adviser)

Tel: +44 (0) 20 7383 5100

 

Colin Aaronson/ Jamie Barklem/ Niall McDonald

 

 

 

 

 

 

 

 

 


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