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Cogstate Placement to Increase Sales Resources
15 / 12 / 2005
Share Placement
CogState Limited (ASX:CGS) is pleased to announce that the company has placed 3 million fully paid ordinary shares at an issue price of A$0.10 per share. The placement has been arranged by Taylor Collison Limited ("Taylor Collison") to sophisticated investors.
All shares issued in the placement will rank equally with existing ordinary shares on issue. The placement represents 8.43% of the current shares on issue. Following the placement, the Company will have 38,597,749 shares on issue.
The funds raised by the placement will be directed to working capital, specifically additional sales resources in North America and Europe, where the company is aggressively growing sales of its diagnostic tests into its key market; clinical trials of pharmaceutical and biotechnology companies.
Brad O'Connor - Chief Executive Officer
CogState Limited (ASX:CGS) is pleased to announce that the company has placed 3 million fully paid ordinary shares at an issue price of A$0.10 per share. The placement has been arranged by Taylor Collison Limited ("Taylor Collison") to sophisticated investors.
All shares issued in the placement will rank equally with existing ordinary shares on issue. The placement represents 8.43% of the current shares on issue. Following the placement, the Company will have 38,597,749 shares on issue.
The funds raised by the placement will be directed to working capital, specifically additional sales resources in North America and Europe, where the company is aggressively growing sales of its diagnostic tests into its key market; clinical trials of pharmaceutical and biotechnology companies.
Brad O'Connor - Chief Executive Officer