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Issue of Equity
Phynova Group plc
("the Company")
Issue of Equity
The Company announces that it has issued 194,206 new ordinary shares ("New Ordinary Shares") in the capital of the Company.
Of the New Ordinary Shares, 50,000 shares are being subscribed for by an existing shareholder of the Company on the same terms as the recent placing, as announced on 1 May 2009. The remaining 144,206 shares are to be issued to a service provider in satisfaction of fees.
Application has been made for the admission to trading on AIM of the New Ordinary Shares and dealings are expected to commence on 19 June 2009. Following the admission of these shares, the Company will have 31,716,726 ordinary shares in issue.
For further information, please contact:
Phynova Group PLC +44 (0) 1993 880700
Steve Harris (Non-Executive Chairman)
Robert Miller (Chief Executive Officer)
Nominated Adviser and Broker:
John East & Partners Limited +44 (0) 20 7628 2200
John East/Simon Clements
Notes to Editors:
About Phynova
Phynova is a UK company developing new prescription pharmaceuticals derived from plants used in Chinese medicines. The Company is focused on viral and bacterial diseases, metabolic diseases and cancer. Phynova´s lead product for hepatitis C has now completed a Phase I/II trial in the US. One further product, for post-operative ileus, is targeted for entry to the clinic and there are a further four products in preclinical development.
For further information please visit www.phynova.com.
17/06/2009
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