LCT share purchase plan raises $1.08m

LCT share purchase plan raises $1.08m

Living Cell Technologies Limited today announced completion of its share purchase plan by the issue of 17,564,993 fully paid ordinary shares, raising an additional $1.08m. The shares will be allotted on 8 December 2014.

The share purchase plan gave all shareholders in Australia and New Zealand the opportunity to participate in the success of the company on the same basis as the $3m private placement, which was completed in October. The $4.08m total raised is projected to provide funding for the company’s development program into 2016.

The CEO, Dr Ken Taylor said, “This is an excellent result and demonstrates shareholder confidence in our development path of cell therapy for neurodegenerative diseases.”

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