Amphion Innovations plc £2.1m Placing
2 July 2007 — Amphion Innovations plc (“Amphion” or the “Company”), the developer of companies in the life sciences and medical technology sectors, announces that on June 29th, 2007 it conditionally raised £2,131,800 (before expenses) through a placing by the Company of 9,690,000 new Ordinary Shares at 22 pence per share.
The net proceeds of the Placing will be used to invest in new and identified opportunities and for the general working capital requirements of the Company.
In the placing, Richard Morgan, Chief Executive Officer of Amphion has agreed to subscribe for 3,589,910 new Ordinary Shares. Upon completion of the Placing, Richard Morgan will be interested in 20,076,613 Ordinary Shares, representing 18.2 percent of the enlarged issued share capital of Amphion of 110,110,224 shares.
The placing is conditional only upon the new Ordinary Shares being admitted to trading on AIM. Application will be made for admission of the 9,690,000 new Ordinary Shares to trading on AIM, and dealings are expected to commence on 6 July 2007.
Richard C.E. Morgan, Chief Executive Officer of Amphion, commented:
"We are delighted to have completed this placing with the strong support of our current shareholders as well as first time investors from the UK, Europe and the Middle East. The completion of this placing enables us to pursue the development of our key programs and provides us with additional capital to continue our support of our Partner Companies which continue to make rapid progress . "
For further information please contact
Amphion Innovations plc
Josh Berkman, Media Relations
+1 (646) 747-7158
John Gilbert, Ben Atwell
+44 207 831 3113
David Newton, Sarah Jacobs
+44 207 107 8000
About Amphion Innovations plc
Amphion Innovations plc is listed on the AIM Market in London under the symbol AMP. Amphion's business is the formation, financing, management and development of life sciences and technology companies, primarily in the US and UK, working in partnership with corporations, governments, universities and entrepreneurs seeking to commercialize their intellectual property. Amphion currently holds a stake in seven Partner Companies, and is continually evaluating new opportunities.
Amphion is based in New York, NY and London, England.
On the web: www.amphionplc.com