LAWFUEL – The Law Firm Newswire – International legal practice Norton Rose has advised Nomura Code Securities Limited, as Nominated Adviser and Broker, in relation to Lombard Medical Technolgies PLC’s (“Lombard”) proposed fundraising of approximately £7.4 million (gross) by way of a placing of 19,000,000 new ordinary shares with UK institutional investors and certain Directors of the Company and a subscription of 10,532,660 new ordinary shares by US investors at an issue price of 25p. In conjunction with the placing and subscription, Lombard is also proposing to grant the investors, in aggregate, warrants to subscribe for 8,859,798 ordinary shares on the basis of 3 ”A” warrants and 3 “B” warrants for every 20 new ordinary shares subscribed for. The placing and subscription are conditional, inter alia, on shareholder approval of the resolutions set out in the notice of EGM contained in the circular which was sent to Lombard’s shareholders on 15 June 2007. The EGM will be held on 9 July 2007, and, subject to the passing of the resolutions, Admission is due to take place on 10 July 2007.
Lombard is a medical devices group which develops stent graft and other medical products for use in the treatment of vascular disease. The proceeds of the fundraising will be used to progress clinical trials in the Company’s lead product, to enable additional product development and to scale up manufacturing in order for the Company to meet the forecast demand for its products.
The Norton Rose team was led by corporate finance partner Julian Stanier assisted by Emma Chee. US law advice was provided by corporate finance partner Tom Vita assisted by Hallie Eads. Berwin Leighton Paisner advised the Company.