18 Feb 2014

Result of Special Meeting

Source: RNS
RNS Number : 3637A
TyraTech, Inc.
18 February 2014
 



THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM JAPAN, CANADA OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

TyraTech, Inc.

("TyraTech" or the "Company")

Result of Special Meeting

Further to the announcement dated 31 January 2014, TyraTech, Inc. (AIM: TYR and TYRU), a natural life sciences company, is pleased to announce that at the Special Meeting held earlier today, each of the resolutions as set out in the notice of Special Meeting was duly passed. Accordingly, the Fundraise (as defined in the circular dated 4 February 2014) is now unconditional save for admission.

Accordingly, the Company has approved, subject only to Admission, the issue of 37,391,763 new common shares in the capital of the Company of .001 each (the "New Common Shares") at 5 pence per share to the investors participating in the Fundraise.

Application has been made to the London Stock Exchange for the New Common Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission and the commencement of dealings will take place at 8.00 a.m. on 21 February 2014.

Following Admission, the Company will have 206,168,068 common shares of .001 each ("Common Shares") in issue, of which 1,084,413 will continue to be held in Treasury. Therefore, the total number of voting rights in the Company will be 205,083,655 ("Total Voting Rights"). The number of restricted Common Shares trading under TIDM 'TYR' following Admission will be 154,744,339 and the number of unrestricted Common Shares trading under TIDM 'TYRU' following Admission will be 51,423,729.

Following Admission, the directors of the Company will hold the following number of Common Shares:


Subscription pursuant to the Fundraise

Total Common Shares held following Admission

Resulting % of Total Voting Rights





Alan Reade

2,000,000

12,486,358

6.09%





Bruno Jactel

494,363

1,859,567

0.91%





Barry Riley

600,000

3,055,556

1.49%





James Hills

482,400

1,047,900

0.51%

 

 

In addition, the directors are interested in the following options over Common Shares:

 


Options held over Common Shares in the Company

Option exercise price

Expiry date





Alan Reade

550,000                     

£0.105                       

4 February 2020


995,125                     

£0.12

20 October 2020


1,000,000

£0.06

25 April 2022


100,570

£0.12

6 March 2022                    





Bruno Jactel

500,000    

£0.06

1 January 2023


500,000    

£0.12

1 January 2023


500,000    

£0.15

1 January 2023





Barry Riley

200,000                     

£0.12

20 October 2020


350,000

£0.06

25 April 2022                





James Hills

200,000                     

£0.12

20 October 2020


350,000

£0.06

25 April 2022

Further, at the Special Meeting the issue of up to a further 1,152,700 common shares pursuant to the exercise of warrants to subscribe for common shares granted to Spark Advisory Partners Limited, Allenby Capital Limited and Whitman Howard Limited was also approved.

 

For further information please contact:

TyraTech Inc.
Alan Reade, Non-Executive Chairman
Bruno Jactel, Chief Executive Officer


Tel: +44 7841978709
Tel: +1 919 415 4340

SPARK Advisory Partners Limited, Nominated Adviser
Matt Davis / Mark Brady


Tel: +44203 368 3551

Tel: +44203 368 3552

Allenby Capital Limited , Joint Broker
Chris Crawford


Tel: +44 20 3328 5656

Whitman Howard Limited, Joint Broker
Ranald Mc-Gregor Smith / Niall Devins


Tel: +44 20 7087 4555

Walbrook, Financial PR and IR
Bob Huxford /Guy McDougall (Public Relations)
Paul Cornelius (Investor Relations)


Tel: +44 20 7933 8792
Tel: +44 20 7933 8794

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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