(“genedrive” or the “Company”)
Posting of shareholder circular
genedrive plc (AIM: GDR), the near patient molecular diagnostics company, confirms that, further to the announcement on 5 May 2020, a Circular has been published and was posted to shareholders today in relation to the proposed Placing of 8,750,000 new Ordinary Shares at 80 pence per share raising £7 million and a broker option of up to £1 million through the issue of up to 1,250,000 additional new Ordinary Shares. The circular contains the notice convening the General Meeting to be held at the offices of the Company: The Incubator Building, 48 Grafton Street, Manchester, M13 9XX at 10.00 a.m. on 27 May 2020.
In light of public health advice in response to the COVID-19 outbreak, including to limit travel and public gatherings, the Company strongly encourages all shareholders to submit their Form of Proxy, appointing the Chairman as proxy, rather than attend the meeting in person. As a result of this advice, shareholders who seek to attend the General Meeting will not be admitted.
A copy of the Circular will shortly be available to download from the Company’s website at www.genedriveplc.com.
Unless otherwise defined, terms in this announcement shall have the same meanings as those defined in the Proposed Placing and Broker Option announcement issued on 5 May 2020.
+44 (0)161 989 0245
David Budd: CEO / Matthew Fowler: CFO
Peel Hunt LLP (Nominated Adviser, Joint Bookrunner and Joint Broker)
+44 (0)20 7418 8900
James Steel / Oliver Jackson / Jock Maxwell Macdonald
finnCap (Joint Bookrunner and Joint Broker)
+44 (0)20 7220 0500
Geoff Nash / Kate Bannatyne / Alice Lane
Walbrook PR Ltd (Media & Investor Relations)
+44 (0)20 7933 8780 or [email protected]
Paul McManus / Anna Dunphy
+44 (0)7980 541 893 / +44 (0)7876 741 001
About genedrive plc (http://www.genedriveplc.com)
genedrive plc is a molecular diagnostics company developing and commercialising a low cost, rapid, versatile, simple to use and robust point of need molecular diagnostics platform for the diagnosis of infectious diseases and for use in patient stratification (genotyping), pathogen detection and other indications. The Genedrive® mt-RNR1-ID kit has received CE-IVD Certification and will be launched into Europe and other markets following full evaluation by the UK National Health Service. The Company has assays on market for the detection of HCV, certain military biological targets, and has tests in development for tuberculosis (mTB). The company recently announced the development of the high throughput SARS-CoV-2 assay, based on Genedrive PCR chemistry.