Amphion Innovations plc Placing Raises £1,032,800
NEW YORK, August 9, 2006 - Amphion Innovations plc (LSE:AMP; "Amphion"), a leading developer and operator of companies in the life sciences and medical technology sectors, today announces that it has successfully raised £1,032,800 (before expenses).
Under the terms of the placing, the Company has issued 3,972,307 new ordinary shares at 26 pence per share (the “Placing Shares”).
The net proceeds from the placing will be used to invest in new and identified opportunities
Application will be made for the Placing Shares to be admitted to trading on AIM. It is expected that admission will occur at 8.00 a.m. on 15 August. The Placing Shares will rank pari passu in all respects with the existing Ordinary Shares which are currently traded on AIM. Following admission the total number of shares in issue will be 97,611,762
“We have made tremendous progress this year, and this further financing will help us to continue the successful development of our partner companies,” said Richard C. Morgan, CEO of Amphion. “These companies are at the leading edge of innovation as they address important market needs in life sciences and information technology.”
For further information please contact
Amphion Innovations plc
Josh Berkman, Media Relations
+1 (646) 747-7158
Ben Atwell / John Gilbert
+44 207 269 7169
Hanson Westhouse LLP
+44 207 601 6100
About Amphion Innovations plc
Amphion Innovations plc is listed on the AIM Exchange in London under the symbol AMP. Amphion develops and operates companies in the life science and medical technology markets, working in partnership with corporations, governments, universities, and entrepreneurs seeking to commercialize their intellectual property using its proven company creation and building process.
On the web: www.amphionplc.com