Biome Technologies raises £1,110,000 via Subscription and Retail Offer

Biome Technologies plc (LON:BIOM) has announced that the Retail Offer launched on 16 August 2024 via REX has now closed.

The Company had intended to raise gross proceeds of £80,000 through the Retail Offer.  However, there was significant Shareholder demand in the Retail Offer and, as a result, the Company has increased the size of the Retail Offer to £160,000 through the issue, subject to Shareholder approval at the General Meeting, of 3,200,000 new Ordinary Shares at an issue price of 5 pence per new Ordinary Shares. Accordingly, the Company has conditionally raised total gross proceeds of approximately £1,110,000 pursuant to the Subscription and the Retail Offer.

As a result of the increase in the size of the Retail Offer, in addition to the specific authorities sought by the Directors to allot up to 1,600,000 new Ordinary Shares pursuant to the Retail Offer as contained in the Notice of General Meeting, the Company intends to rely on a portion of the additional authority sought at the General Meeting to allot shares for cash on a non-pre-emptive basis in order to satisfy demand.

Despite this increase in the size of the Retail Offer, it has remained necessary to scale back applications under the Retail Offer so as not to exceed total proceeds of £160,000. 

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