News and Press Releases

Issue of Equity

22 June 2015


The Company has issued 16,600,499 new common shares of no par value in the capital of the Company (“Shares”). The new Shares have been issued to Magna Group, LLC ("Magna") at a price of 0.065 pence per Share, the same price as the Placing announced on 17 June 2015 (the “Magna Shares”). The Magna Shares have been issued in accordance with the terms of the financing announced on 8 January 2014, as a substitution of the 5,141,779 warrants to subscribe for Shares at the lower of 0.36 pence per Share or the current volume weighted average price, as announced at that time, and calculated in accordance with a formula incorporated into the financing agreement. A total of 16,600,499 new Shares have been issued today, and an application will be made for the new Shares to be admitted to trading on AIM with effect from 26 June 2015 (“Admission”). The Magna Shares have been issued within the Company’s existing share authorities.

Visit or contact:

Raylene Whitford, Chief Financial Officer Tel: 020 7872 5570
Nick Harriss, Nick Athanas, Allenby Capital (Nomad) Tel: 020 3328 5656
Nick Bealer, Cornhill Capital (Broker) Tel: 020 7710 9612