Ockham Holdings has announced that its proposals on the placing and open offer announced on 12 March were approved at today's extraordinary general meeting (EGM).
On 12 March, it announced details of the placing and open offer of 72,469,626 new ordinary shares of 20 pence each in the company at 34.5 pence per share. This was intended to raise £25m.
Under the placing the 72,469,626 shares were conditionally placed with a number of institutional investors subject to clawback to satisfy valid applications made by qualifying shareholders under the open offer.
By the time the open offer closed on 5 April, valid shareholder applications had been received for approximately a third of the shares made available - 21,961,228.
Admission and dealings in the new ordinary shares is expected to start on 12 April.
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