Admission to AIM
28 Abril 2006 - 4:02AM
UK Regulatory
RNS Number:1480C
Bioganix PLC
28 April 2006
Bioganix plc
Admission to AIM
and
Placing of 2,541,667 Ordinary Shares at 120p per share
Bioganix plc ("Bioganix" or "the Company"), the owner and operator of in-vessel
composting technology, commences trading on AIM today. On Admission the Company
has raised #3,050,000 through a placing of 2,541,667 ordinary shares at 120p per
share undertaken by Rowan Dartington & Co, the Company's nominated adviser and
broker.
Bioganix treats controlled wastes, notably those governed by the 'Animal
By-Products Regulations', to produce a nutrient rich compost that is used
principally as an agricultural fertilizer replacement. Waste materials
processed by Bioganix include food processing by-products, retail food wastes,
local authority organic wastes and agricultural by-products.
The directors believe that the increasing costs of disposal via landfill and
environmental regulations governing the waste management industry present
significant growth opportunities for Bioganix.
The net proceeds of the Placing will be used to expand the processing capacity
of the Bioganix group and to provide working capital.
Placing statistics:
Issue price 120p
Total number of shares being placed 2,541,667
Number of shares in issue on Admission 6,458,335
Percentage of Enlarged share Capital being placed 39.35%
Market capitalisation at the Placing Price #7,750,000
Enquiries:
Nick Helme, Managing Director
Bioganix plc Tel: 01568 619 115
Julian Morgan, Finance and
Commercial Director
Bioganix plc Tel: 01568 619 101
Barrie Newton
Rowan Dartington & Co Tel: 0117 933 0010
Paul Vann/Tom Cooper
Winningtons Financial Tel: 0117 920 0092 or 07802 466567
This information is provided by RNS
The company news service from the London Stock Exchange
END
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