22 June 2018 Microsaic Systems plc (“Microsaic”, “Microsaic Systems” or the “Company”)
Result of General Meeting, Completion of Fundraising and Total Voting Rights
Microsaic Systems plc (AIM: MSYS), the developer of point of need mass spectrometry (“MS”) instruments , is pleased to announce that, at its General Meeting held earlier today, the Resolution put to shareholders to authorise the directors of the Company to allot the New Ordinary Shares in connection with the fundraising of £5.5 million (gross) announced on 5 June 2018 was duly passed.
Application has been made for the 275,000,000 New Ordinary Shares to be admitted to trading on AIM and it is expected that Admission will become effective and trading will commence in the New Ordinary Shares at 8.00 a.m. on 25 June 2018.
Following Admission the Company’s issued share capital will comprise 456,365,146 Ordinary Shares. From Admission, the figure of 456,365,146 may be used by shareholders of 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 share capital of the Company under the FCA’s Disclosure Guidance and Transparency Rules.
Glenn Tracey, Chief Executive Officer of Microsaic, commented:
” We are delighted to have completed this fundraise with a good mix of high calibre institutional and private investors. The new funds have strengthened the Company’s balance sheet and will allow us to continue to further enhance our miniaturised mass spectrometer instruments to ensure our continued competitiveness, as well as put Microsaic in a stronger position to support existing partnerships and further commercial agreements – we have signed six new OEM distribution partnerships so far this calendar year. “