Neimeth International Pharmaceuticals Plc (the Company) has said in a release that sequel to the close of its Rights Issue exercise on September 15, 2022 it had received a No-Objection from the Securities and Exchange Commission (SEC) on the allotment of 2,373,947,500 Ordinary Shares at 81.55 per share on the basis of 5 new Ordinary Shares for every 4 Ordinary Shares held as at the close of business on Friday, April 22, 2022. According to the company the Rights Issue was fully subscribed, leading to fresh injection of 3.68 billion which would further position the company for growth, improve its capital structure, deleverage its balance sheet, and fund its working capital needs.
The shares allotted,the company said would be credited to the CSCS account of allottees by the Registrars to the Issue, in line with the basis of allotment of the shares as approved by the SEC. Allotment of the shares according to it would bring about a change in the Shareholding Structure of the Company. The new Shareholding Structure will be communicated as appropriate once updated.
