First Day of Dealings
13 October 2010
This announcement is not an admission document. This announcement does not constitute an offer to sell or the solicitation of an offer to buy Ordinary Shares in any jurisdiction in which such offer or solicitation is unlawful. In particular, this announcement is not for distribution in or into Australia, Canada, Japan, the Republic of Ireland the Republic of South Africa, or the United States of America.
The Ordinary Shares have not been and will not be registered under the United States Securities Act 1933 (as amended) nor under the applicable securities legislation of the United States of America or any province or territory of Australia, Canada, Japan, the Republic of Ireland, or United States of America, territory or possession where to do so may contravene local securities laws or regulations. Accordingly, the Ordinary Shares may not, subject to certain exemptions, be offered or sold directly or indirectly in or into Australia, Canada, Japan, the Republic of Ireland, the Republic of South Africa, or to the United States of America or to, or for the account or benefit of, US persons or any national, resident or citizen of the United States of America, Australia, Canada, Japan, the Republic of Ireland or the Republic of South Africa.
The distribution of this announcement in other jurisdictions may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
Instem Life Science Systems plc
(“Instem” or the “Company”)
Commencement of Dealing in Shares
Instem Life Science Systems plc (AIM:INS.L), a leading provider of IT applications to the global early development healthcare market, is pleased to announce that dealings will commence today in its Ordinary Shares following its admission to AIM, under the ticker INS.
Instem has raised £9.15 million (prior to expenses) through a placing by Brewin Dolphin of 5,228,376 new Ordinary Shares at the placing price of 175p per share. Following the placing, there will be 11,714,286 Ordinary Shares in issue, giving Instem a market capitalisation of £20.50 million at the placing price. The percentage of Ordinary Shares in public hands on Admission will be approximately 45 per cent.
Based in Staffordshire, Instem is the leading provider of Early Development Safety Assessment software, providing its services to over 80 customers, including seven of the top ten global pharmaceutical and biotech companies. The Company has in place a reputable and established business, primarily in North America, Europe and the UK, and expects to grow organically, and where appropriate, acquisitively to accelerate its growth trajectory. General market drivers such as increased R&D productivity requirements, increasing regulatory pressure, growing Far Eastern markets and the ongoing trend to outsource are expected to drive increased demand for Instem’s solutions.
Phil Reason, CEO of Instem Life Science Systems plc, commented, “We have been delighted with the response from investors and believe AIM will provide us with an excellent platform as we seek to further our market leading position through both organic and acquisitive growth.”
For further information, please contact:
|Phil Reason, CEO||+44 (0) 1785 825600|
|Nigel Goldsmith, CFO|
|N+1 Singer (Nominated Adviser & Broker)||+44 (0) 20 7496 3000|
|Wallbrook Financial PR||Tel: +44 (0) 20 7933 8000|
|Paul Cornelius||or firstname.lastname@example.org|
Instem is a leading supplier of IT applications to the early development healthcare market delivering compelling solutions for data collection, management and analysis across the R&D continuum. Instem applications are in use by customers worldwide, meeting the rapidlyexpanding needs of life science and healthcare organisations for data-driven decision making leading to safer, more effective products.
Instem’s portfolio of software solutions increases client productivity by automating study-related processes while offering the unique ability to generate new knowledge through the extraction and harmonization of actionable scientific information.
Instem supports over 450 clients through full service offices in the United States, United Kingdom and China with additional locations in Japan and India.
To learn more about Instem solutions and its mission, please visit instem.com.