News

Result of Special Meeting
18 February 2014

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM JAPAN, CANADA OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

Further to the announcement dated 31 January 2014, TyraTech, Inc. (AIM: TYR and TYRU), a natural life sciences company, is pleased to announce that at the Special Meeting held earlier today, each of the resolutions as set out in the notice of Special Meeting was duly passed. Accordingly, the Fundraise (as defined in the circular dated 4 February 2014) is now unconditional save for admission.

Accordingly, the Company has approved, subject only to Admission, the issue of 37,391,763 new common shares in the capital of the Company of $0.001 each (the "New Common Shares") at 5 pence per share to the investors participating in the Fundraise.

Application has been made to the London Stock Exchange for the New Common Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission and the commencement of dealings will take place at 8.00 a.m. on 21 February 2014.

Following Admission, the Company will have 206,168,068 common shares of $0.001 each ("Common Shares") in issue, of which 1,084,413 will continue to be held in Treasury. Therefore, the total number of voting rights in the Company will be 205,083,655 ("Total Voting Rights"). The number of restricted Common Shares trading under TIDM 'TYR' following Admission will be 154,744,339 and the number of unrestricted Common Shares trading under TIDM 'TYRU' following Admission will be 51,423,729.

Following Admission, the directors of the Company will hold the following number of Common Shares:

	Subscription pursuant to the Fundraise	Total Common Shares held following Admission	Resulting % of Total Voting Rights
Alan Reade	2,000,000	12,486,358	6.09%
Bruno Jactel	494,363	1,859,567	0.91%
Barry Riley	600,000	3,055,556	1.49%
James Hills	482,400	1,047,900	0.51%

In addition, the directors are interested in the following options over Common Shares:

	Options held over Common Shares in the Company	Option exercise price	Expiry date
Alan Reade	550,000	£0.105	4 February 2020
	995,125	£0.12	20 October 2020
	1,000,000	£0.06	25 April 2022
	100,570	£0.12	6 March 2022
Bruno Jactel	500,000	£0.06	1 January 2023
	500,000	£0.12	1 January 2023
	500,000	£0.15	1 January 2023
Barry Riley	200,000	£0.12	20 October 2020
	350,000	£0.06	25 April 2022
James Hills	200,000	£0.12	20 October 2020
	350,000	£0.06	25 April 2022

Further, at the Special Meeting the issue of up to a further 1,152,700 common shares pursuant to the exercise of warrants to subscribe for common shares granted to Spark Advisory Partners Limited, Allenby Capital Limited and Whitman Howard Limited was also approved.

 

For further information please contact:

TyraTech Inc. Alan Reade, Non-Executive Chairman Bruno Jactel, Chief Executive Officer	Tel: +44 7841978709 Tel: +1 919 415 4340
SPARK Advisory Partners Limited, Nominated Adviser Matt Davis / Mark Brady	Tel: +44203 368 3551
Allenby Capital Limited , Joint Broker Chris Crawford	Tel: +44 20 3328 5656
Whitman Howard Limited, Joint Broker Ranald Mc-Gregor Smith / Niall Devins	Tel: +44 20 7087 4555
Walbrook, Financial PR and IR Bob Huxford /Guy McDougall (Public Relations) Paul Cornelius (Investor Relations)	Tel: +44 20 7933 8792 Tel: +44 20 7933 8794

 

 

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