TIDMTYR TIDMTYRU
RNS Number : 2201B
TyraTech, Inc.
28 March 2013
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.
For immediate release 28 March 2013
TYRATECH, INC.
("TyraTech" or the "Company")
Result of Special Meeting
Further to the announcement dated 18 March 2013, 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 Fundraising (as defined in the
circular dated 18 March 2013) is now unconditional save for
admission.
Accordingly, the Company has approved, subject only to
Admission, the issue of 60,000,000 new common shares in the capital
of the Company of $0.001 each (the "New Common Shares") at 5 pence
per share to the investors participating in the Fundraising.
Separately, the Company has issued a further 600,000 new common
shares of $0.001 each (the "Further New Common Shares") at 5 pence
per share, as part of a pre-existing third-party consultancy
agreement.
Application has been made to the London Stock Exchange for the
New Common Shares and the Further New Common Shares to be admitted
to trading on AIM ("Admission"). It is now expected that Admission
and the commencement of dealings will take place at 8 a.m. on 3
April 2013.
Following Admission, the Company will have 168,776,305 common
shares of $0.001 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 167,691,892
("Total Voting Rights"). The number of restricted Common Shares
trading under TIDM 'TYR' following Admission will be 141,474,936
and the number of unrestricted Common Shares trading under TIDM
'TYRU' following Admission will be 27,301,369.
Furthermore, following Admission, the directors of the Company
will hold the following number of Common Shares:
Subscription Total Common Resulting % of
pursuant to the Shares held following Total Voting Rights
Fundraise Admission
--------------- ----------------- ----------------------- ---------------------
Alan Reade 2,000,000 9,811,358 5.85%
Bruno Jactel 700,000 1,365,204 0.81%
Kevin Schultz Nil Nil Nil
Barry Riley 200,000 2,455,556 1.46%
James Hills 200,000 565,500 0.34%
--------------- ----------------- ----------------------- ---------------------
In addition, the directors are interested in the following
options over Common Shares:
Options held over Option exercise Expiry date
Common Shares in price
the Company
-------------- ------------------ ---------------- ---------------
Alan Reade 550,000 GBP0.105 4 February
2020
995,125 GBP0.12 20 October
2020
1,000,000 GBP0.06 25 April 2022
100,570 GBP0.12 6 March 2022
Bruno Jactel 500,000 GBP0.06 1 January 2023
500,000 GBP0.12 1 January 2023
500,000 GBP0.15 1 January 2023
Kevin Schultz 200,000 GBP0.12 20 October
2020
100,000 GBP0.06 25 April 2022
Barry Riley 200,000 GBP0.12 20 October
2020
350,000 GBP0.06 25 April 2022
James Hills 200,000 GBP0.12 20 October
2020
350,000 GBP0.06 25 April 2022
-------------- ------------------ ---------------- ---------------
American Vanguard Corporation, the parent company of AMVAC
Chemical Corporation and, the Company's partner in its Envance
Technologies joint venture, has subscribed for 49,400,000 of the
New Common Shares. Following Admission, American Vanguard
Corporation will hold 29.46% of the Company's Total Voting Rights.
American Vanguard Corporation also holds 10,000,000 warrants in the
Company (the "Warrants"). If American Vanguard Corporation were to
exercise the Warrants in full, it would hold 31.73% of the
Company's Total Voting Rights on a fully diluted basis (i.e.
assuming exercise in full of all outstanding options held by
directors and staff and of the Warrants).
For further information please contact:
TyraTech Inc.
Alan Reade, Executive Chairman
Tel: +1 919 415 4310
Bruno Jactel, Chief Executive Officer
Tel: +1 919 415 4280
N+1 Singer, Nominated Adviser and Joint Broker
Aubrey Powell / Alex Wright
Tel: +44 20 7496 3000
First Columbus LLP, Joint Broker
Chris Crawford
Tel: +44 20 3002 2070
Walbrook, Financial PR and IR
Bob Huxford / Paul Cornelius / Guy McDougall
Tel + 44 20 7933 8792
This information is provided by RNS
The company news service from the London Stock Exchange
END
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