BNX Bionex Inv.

RNS Number:9425I
Bionex Investments PLC
14 September 2006

14 September 2006
AIM: BNX



                             BIONEX INVESTMENTS PLC
                          ("Bionex" or "the Company")

                       Conditional placing of #8,275,000
                         Extraordinary General Meeting
                      Change of Name to Albany Capital plc



The board of Bionex today announces that it has conditionally raised #8,275,000
gross (#8,125,000 after expenses) through the placing of 413,750,000 new
ordinary shares ("the Placing Shares") at 2 pence per share ("the Placing").
The Placing is conditional inter alia on the passing of certain resolutions by
the shareholders of the Company and accordingly an extraordinary general meeting
of the Company (the "EGM") will be convened for 11.00am on 9 October 2006.  At
the EGM, the directors of Bionex will seek shareholder approval of the
resolutions necessary to carry out the Placing and to change the name of the
Company to Albany Capital plc.



Further information on the proposed resolutions is set out in a circular
containing the notice of EGM (the "Circular") which was posted to shareholders
of the Company today.  Copies of the Circular will be available during normal
business hours on weekdays (excluding public holidays) for one month from
today's date at the offices of W.H. Ireland Limited, Fifth Floor, 24 Martin
Lane, London EC4R 0DR.



Subject inter alia to the passing of the resolutions at the EGM, application
will be made for the Placing Shares to trade on AIM and it is expected that
dealings in the Placing Shares will commence on 12 October 2006.  The Placing
Shares will rank pari passu in all respects with the existing shares in issue.



The following director of the Company is proposing to participate in the Placing
as set out below:


Director               Number of     Consideration Total holding immediately    Percentage of issued ordinary
                  Placing Shares                       following the Placing        share capital immediately
                                                                                        following the Placing

Tim James             12,500,000          #250,000                22,500,000                            3.80%



Conditional on admission of the Placing Shares to trading on AIM, the Company is
delighted to announce that John McLean is to be appointed to the board of the
Company as a non-executive director.  Mr McLean is a chartered accountant and
was a senior manager at Coopers & Lybrand both in London and New York.  He is
currently managing director of Fairfax Classical Properties and a director of
Westminster Growth Capital, who are investing #3 million in the Placing for
150,000,000 shares.  Mr McLean is proposing to participate in the Placing as set
out below:


Proposed               Number of     Consideration   Total holding immediately    Percentage of issued ordinary
Director          Placing Shares                         following the Placing        share capital immediately
                                                                                        following the Placing

John McLean           10,000,000          #200,000                  10,000,000                            1.69%



The Company also announces that Oliver Vaughan, a non-executive director of the
Company, is appointed as Chairman of the board of Bionex with immediate effect.



For further information please contact:


Bionex Investments PLC               Chris Roberts                       +44 (0) 20 7937 4445

W.H. Ireland Limited                 Peter Jackson                       +44 (0) 20 7220 1666








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