Further to the announcement of 9 November 2009 in relation to a fundraising and Co-investment agreement, Fusion IP plc (AIM: FIP), the university IP commercialisation company that turns world class research into business, is pleased to announce that at the General Meeting of the Company held earlier today, all resolutions were duly passed.
Fusion has raised approximately £3.2 million (before expenses) by way of a Subscription by IP Group Plc (LSE: IPO, “IP Group”) through the issue of 10,740,741 new Ordinary Shares to be issued credited as fully paid at a price of 27 pence per share, and a Placing of 925,926 new Ordinary Shares issued at a price of 27 pence per share. A further issue of 422,217 new Ordinary Shares have been issued to the University of Sheffield pursuant to the terms of the agreements between Fusion and the University of Sheffield.
Admission of the new Ordinary Shares is expected to take place on 3 December 2009. Following the fund raising there will be 54,242,850 Ordinary Shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, Fusion under the FSA’s Disclosure and Transparency Rules.