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Source BioScience plc - Result of Open Offer

Source BioScience plc - Result of Open Offer

Nottingham, UK – 21 August 2013 – In relation to the Open Offer announced on 7 August 2013, of up to 10,778,066 New Ordinary Shares, the Company announces that it has received valid applications in respect of 8,090,699 Open Offer Shares from Qualifying Shareholders, raising gross proceeds of approximately £0.77 million.  This represents approximately 75 per cent. of the Open Offer Shares offered. All eligible applications received from Qualifying Shareholders will therefore be allocated their pro rata Open Offer Entitlements and all eligible applications under the Excess Application Facility will be allocated their Open Offer Shares as applied for.

The net proceeds of the Open Offer will be used to fund additional organic and selected acquisitive growth opportunities for Source BioScience. 

Application has been made to the London Stock Exchange for the Open Offer Shares to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange (“First Admission”) and it is expected that First Admission will occur, and that dealings in the Open Offer Shares will commence, at 8.00 a.m. on 27 August 2013.

Capitalised terms in this announcement have the same definition as set out in the prospectus dated 7 August 2013, unless otherwise indicated.

Notes to Editors

About Source BioScience:
Source BioScience plc (LSE:  SBS) is an international diagnostics and genetic analysis business serving the healthcare and research markets. The LifeSciences division provides core laboratory research support from conceptualisation to implementation, calling upon a wide range of innovative technology platforms including an online catalogue of biomolecular tools. Source BioScience is a trusted provider of a complete range of sophisticated microarray, next generation and conventional sequencing services. GLP, GCP and CPA accreditations make the sequencing offerings very attractive for applications in regulatory studies or clinical settings. The Healthcare operations provide screening and reference laboratory diagnostic testing for cancer and other diseases and additional predictive testing for treatment optimisation for clinicians and patients. Source BioScience has its headquarters in Nottingham, UK. For more information, see www.sourcebioscience.com.

Issued for and on behalf of Source BioScience.

To contact the Source Bioscience team at College Hill, email sourcebioscience@collegehill.com

 

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Melanie Toyne-SewellManaging Partner