TIDMABH

RNS Number : 5601Z

Angel Biotechnology Holdings Plc

19 March 2012

19 March 2012

Angel Biotechnology Holdings plc

("Angel" or "the Company")

Notice of EGM

Proposed Placing

The Board of Angel Biotechnology Holdings plc announces that today it has posted a Notice of Extraordinary General Meeting of the Company ("EGM") and a Form of Proxy to Shareholders convening an EGM, to be held at 50 Broadway, London SW1H 0BL on 13 April 2012 at 10am. A copy of the Circular is available from the Company's website, www.angelbio.com.

The purpose of the EGM is to consider and, if thought fit, pass a special resolution on the terms set out in the Notice of Extraordinary General Meeting. If passed, it would enable the Board to allot equity securities on a non pre-emptive basis by an aggregate nominal amount of GBP370,000, which would be in addition to the original nominal amount of GBP750,000 (the "Authority") granted to the Board at the last Annual General Meeting of the Company ("AGM") held on 8 June 2012. The additional Authority would run until the conclusion of the next AGM at which time Shareholders will be asked to approve new authorities for the following 12 months.

The Company is seeking to raise up to a further GBP1m through a placing of shares at the same price as the Placing that was announced on 22 December 2011. Following the Placing in December, GBP175,000 of the original Authority (or 175,000,000 ordinary shares) was left unutilised, which, at the price of the December 2011 Placing, would enable the Company to raise a further GBP350,000.

However, one of the institutional investors who was not in a position to invest at the time of the December Placing has agreed to invest GBP360,000, while other institutional investors who supported the December 2011 Placing have asked to provide follow-on investments. These additional investments would be in excess of the remaining original Authority.

On behalf of the Board, Dr. Paul Harper, Executive Chairman, said: "The Placing would further strengthen Angel's shareholder base and provide additional working capital that will enable the Company to respond quickly to new business development opportunities recently available to it. The Directors also believe that in the light of the current uncertain financial markets, it is prudent to raise funds when they become available."

The Directors believe that passing the Resolution is in the best interest of the Shareholders and the Company as a whole and recommend that shareholders vote in favour of the Resolution as they intend to do in respect of their own beneficial shareholdings amounting to 96,933,527 shares representing 2.96 per cent. of the Company's issued ordinary share capital.

For further information:

Angel Biotechnology Holdings plc

Lorna Peers, Finance Director +44 (0) 131 445 6077

Stewart White, Commercial Director/Acting CEO www.angelbio.com

Grant Thornton, Corporate Finance

Colin Aaronson / Melanie Frean / Elliot Berg +44 (0) 20 7383 5100

Hybridan LLP (Broker)

Claire Noyce, Deepak Reddy +44 (0) 20 7947 4350

Media enquiries:

The Communications Portfolio Ltd

Ariane Comstive / Caolan Mahon +44 (0) 20 7536 2028 / 2029

ariane.comstive@communications-portfolio.co.uk

Notes to Editors:

Angel Biotechnology Holdings plc is a full service contract bio-manufacturing partner to biotechnology and pharmaceutical companies worldwide. Angel specialises in advanced biologics including biopharmaceutical proteins and cell therapies, such as cellular vaccines and stem cells. At present, Angel's products are principally used in pre-clinical studies and clinical trials with a view to becoming the contract manufacturer of choice on a continuing basis.

Drug development companies outsource their biopharmaceutical manufacturing requirements to Angel to reduce their own capital requirements and enable them to develop products more rapidly. In addition, Angel provides complete regulatory services and documentation to its customers while its manufacturing processes adhere to the most stringent regulatory requirements. Products are produced to current Good Manufacturing Practice (cGMP) standards as required by the US Food and Drug Administration (FDA), and in facilities that are certified to European standards by the Medicines and Healthcare products Regulatory Agency (MHRA).

Its customers range from early-stage biotechnology companies including ReNeuron plc and US-based Pathfinder Cell Therapy, to established pharmaceutical companies such as Russian-based Materia Medica Holdings.

Angel has two facilities: Pentlands Science Park near Edinburgh where it employs 38 people, and a site in Cramlington, near Newcastle-upon-Tyne, which is expected to be commissioned by the end of Q1 2012, initially employing up to 10 people.

More information is available at www.angelbio.com .

- Ends -

This information is provided by RNS

The company news service from the London Stock Exchange

END

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