Amphion Innovations plc
Fundraising and Directors Dealings
London and New York, 7 April 2008 – Amphion Innovations plc (LSE: AMP) ("Amphion" or the "Company"), the developer of medical and technology businesses, today announces that it has raised £250,000 (before expenses) by the issue of 1,136,364 new ordinary shares of 1p each in the capital of the Company (the "New Ordinary Shares") to an institutional investor by way of subscription at an issue price of 22 pence per New Ordinary Share to enable the Company to invest in current and new Partner Companies and to provide working capital for the Company. The New Ordinary Shares will represent approximately 0.87 per cent of the existing Amphion share capital.
Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. The New Ordinary Shares will, when issued, rank equally in all respects with the existing Ordinary Shares, including the right to receive any dividend or other distribution declared, made or paid following Admission. It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence 11 April 2008.
Amphion also announces today that New Ordinary Shares have been issued to Board members Richard Mansell-Jones and R. James Macaleer who, in lieu of their directors’ fee for the period 1 January to 31 March 2008, received their full remuneration in the form of Ordinary Shares priced at 22p being the closing mid-market price on 1 April 2008.
Richard Mansell-Jones, Chairman of Amphion, received 40,227 Ordinary Shares, bringing his total holdings of the Company to 2,602,792 representing 2 per cent of the Company’s issued Ordinary Share capital. Pursuant to Rule 13 of the AIM Rules this constitutes a related party transaction and the independent Directors consider having consulted with its Nominated Adviser that the terms of the transaction are fair and reasonable insofar as its shareholders are concerned.
R. James Macaleer received 20,114 Ordinary Shares, bringing his total holding of the Company to 19,871,563 representing 15.26 per cent of the Company’s issued Ordinary Share capital.
Chief Executive Officer, Richard Morgan and President and Chief Financial Officer, Robert Bertoldi, who are also both Board members, have received New Ordinary Shares as part of their incentive compensation. Richard Morgan received 379,056 Ordinary Shares priced at 22p, bringing his total holdings of the Company to 21,173,211 representing 16.26 per cent of the Company’s issued ordinary share capital. Robert Bertoldi received 31,607 Ordinary Shares priced at 22p, bringing his total holdings of the Company to 5,674,844 representing 4.36 per cent of the Company’s issued Ordinary Share capital.
In addition to the 410,663 Ordinary Shares issued to Richard Morgan and Robert Bertoldi, 50,893 Ordinary Shares were also issued to five employees of the Company as part of their incentive compensation.
Admission of the 1,658,261 New Ordinary Shares, ranking pari passu, is expected on 11 April 2008.
Following admission of the New Ordinary Shares, the Company will have 130,196,893 ordinary shares in issue with each ordinary share holding one voting right.
For further information please contact
Amphion Innovations plc
Charlie Morgan, Director of Communications
+1 212 210 6224
Cardew Group
Tim Robertson/ Jamie Milton/ Matthew Law
+44 020 7930 0777
Charles Stanley Securities - Nominated Adviser
Mark Taylor / Freddy Crossley
+44 20 7149 6000
About Amphion Innovations plc
Amphion (LSE: AMP) builds shareholder value in high growth companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both the US and UK.
Amphion has significant shareholding in 10 Partner Companies developing proven technologies targeting substantial commercial marketplaces, each in excess of $1 billion. Each Partner Company is chosen with the goal of achieving an exit valuation in excess of $100 million.
On the web: www.amphionplc.com
