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ICPbio Rights Issue Closes Wednesday
MEDIA STATEMENT
6 AUGUST 2007
ICPbio Rights Issue
Closes Wednesday
ICP Biotechnology Ltd is encouraged
by the progress of its pro-rata 1-for-1 rights issue to
date, the chairman Mr Roger Gower said today.
“The inflow from the offer of new ordinary shares with attached warrants has increased over the past few days ahead of the closing of the offer at 5 pm on Wednesday,” he said.
“It is particularly encouraging that around 20% of existing shareholders are seeking an increased allocation over and above their basic entitlements.”
ICPbio is offering new shares at a price of 5c payable in full on application. Investors will also receive one Series 1 warrant and one Series 2 warrant for every two new ordinary shares they subscribe for.
ICPbio intends to apply the proceeds from the offer to costs associated with the building and scale-up of its new manufacturing facility and to the build up of inventory.
“Our range of biological proteins sourced from New Zealand’s disease-free farming sector is now being introduced in export markets,” said Mr Gower.
Last week, ICPbio announced that it has signed a distribution agreement with VWR International LLC, a leading global distributor based in Pennsylvania, USA, which offers products from manufacturers to customers in the pharmaceutical, biotechnology and chemical markets.
Mr Gower added, “It is now important that shareholders act quickly before the offer closes. Unlike an initial public offer, the closing date of the rights offer cannot be extended.”
About ICP Biotechnology Ltd.
ICPbio
manufactures and markets products for use in
biopharmaceutical manufacturing, diagnostics and animal
reproduction to North America, Europe, Australasia and South
America. ICPbio Ltd is one of New Zealand’s longest
established biotechnology companies with two manufacturing
facilities and core technologies in large scale purification
of proteins and in production of sterile products. Next to
its veterinary embryo transfer product range, ICPbio’s
state of the art chromatographic technology yields high
quality protein products such as Albumin, Transferrin,
Immunoglobulin and Thrombin. ICPbio is listed on the NZSX
market of the New Zealand Exchange under the code
‘BIO’
ends
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