News - Result Of AGM And General Meeting.
21 December 2007
At the Company’s AGM and general meeting on 29 November 2007, all resolutions as set out in the notice of AGM and the notice of general meeting were put before the meeting and carried.
On 3 December 2007 the Company entered into a facility agreement with SBI Bioventures Limited (SBI). SBI has increased the unsecured loan to the Company from £1,500,000 to £2,500,000 for the purpose of working capital.
The rate of interest is 12 per cent per annum. This agreement replaces the previous facility agreement between the parties. SBI has the option to receive 5 year warrants to purchase 5,000,000 of the Company’s shares at a 25 per cent discount to the opening market price on admission to AIM. This will be exercisable in connection with the Company’s proposed admission to AIM.
SBI has also acquired 500,000 ordinary shares in the Company at the opening market price on 30 November 2007 being 29.5 pence per share.
The Directors of Accura Animal Health plc accept responsibility for this announcement.