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Novacyt S.A.. (12/15/16). "Press Release: Novacyt Successfully Completes €2.7m Fundraising". Paris & Cambridge.

Organisations Organisation Novacyt S.A. (Alternext: ALNOV)
  Group Novacyt (Group)
  Organisation 2 Alternative Investment Market (AIM) (London)
  Group London Stock Exchange (LSE)
Products Product molecular diagnostics
  Product 2 investment banking
Index term Index term Novacyt–SEVERAL: investment, 201612 private placement €2.725m with 2.725m new shares = dilution of 15.8%
Person Person Mullis, Graham (Novacyt 201409 CEO before Lab21 CEO)
     


Novacyt (ALTERNEXT: ALNOV), an international specialist in clinical diagnostics, today announces a private equity placement raising gross €2.7m in an oversubscribed issue.

The capital increase will amount to €2,725,000 by issuing 2,725,000 new shares. The proceeds from the placing will be used to (i) strengthen trade development, (ii) meet working capital requirements and provide additional financial resources as the Company prepares to list on the Alternative Investment Market (AIM) of the London Stock Exchange in 2017.

The share capital of Novacyt following the capital increase will amount to €1,151,183.73, representing 17,267,756 shares with a nominal value of 1/15th of one euro each. The dilution resulting from the capital raise is 15.8% compared to the 14,542,756 shares currently outstanding. The new shares will be listed on Alternext Paris and rank pari passu with existing shares under ISIN code FR0010397232.

Graham Mullis, Group CEO of Novacyt, commented:
“I would like to thank our shareholders for their ongoing support to this oversubscribed equity placing. In part, funds from the placing will be used for our anticipated joint listing in the UK, which will mark an exciting and important milestone as we seek to increase our international profile and presence. Furthermore, we continue to make good progress against our objective of becoming a profitable and cash generative global clinical diagnostics company.”

- End –


About Novacyt Group

The Novacyt Group is a leader in the field of cellular diagnostics with a growing portfolio of cancer and infectious disease products and services. Through its proprietary technology platform NovaPrep® and molecular platform, genesig® Novacyt is able to provide an extensive range of oncology and infectious disease diagnostic products across an extensive international distributor network. The Group has diversified sales from diagnostic reagents used in oncology, microbiology, haematology and serology markets, and its global customers and partners include major corporates.

For more information please refer to the website: www.novacyt.com


Contacts

International
Brett Pollard / Victoria Foster Mitchell
FTI Consulting
+44 (0)20 3727 1000
brett.pollard@fticonsulting.com / victoria.fostermitchell@fticonsulting.com

France
Arnaud de Cheffontaines / Astrid Villette
FTI Consulting
+33 (0)147 03 69 47 / +33 (0)147 03 69 51
arnaud.decheffontaines@fticonsulting.com / astrid.villette@fticonsulting.com

NOVACYT
Graham Mullis
Chief Executive Officer
+44 (0)7901 514 121
graham.mullis@novacyt.com

   
Record changed: 2017-07-23

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