Henderson Morley: Placing
05-03-2010

HENDERSON MORLEY PLC

("Henderson Morley" or the "Company")

(AIM: HML)

PLACING

Henderson Morley plc, the Aim quoted biotechnology company, announces that it has raised £444,597 before expenses, via a placing ('the Placing') by Rivington Street Corporate Finance to institutional and other investors of 246,998,333 million New Ordinary Shares of 0.125 pence in the Company at a price of 0.18 pence per share.

Andrew Knight and Dr Ian Pardoe, Directors of the Company, have each undertaken to subscribe £60,000 and £40,000 for 33,333,333 and 22,222,222 New Ordinary Shares respectively as part of the Placing. The Directors, other than Messrs Knight and Pardoe, having consulted with the Company's nominated adviser, Brewin Dolphin, believe that the terms of this transaction are fair and reasonable insofar as shareholders are concerned.

The funds raised through the Placing will be used for working capital whilst further pre sale due diligence continues on the ICVT platform and whilst the Company works towards its stated strategy of becoming a pure play vaccine company by 2011. 

The Placing is conditional on the admission of the New Ordinary Shares to trading on AIM.      224,776,111 New Ordinary Shares have today been allotted, and application has been made for these shares to be admitted to AIM. Trading in the new shares is expected to commence on 10 March 2010. It is expected that the further 22,222,222 New Ordinary Shares (11,111,111 to Mr.  A Knight and 11,111,111 to Dr I Pardoe) will be allotted by 20 April 2010, at which time a further announcement will be made.

Following Admission of the 224,776,111 shares allotted today, Mr. A Knight and Dr I Pardoe will own 159,640,986 and 
110,338,862 shares respectively, representing 11.57% and 8.00% respectively of the Company's enlarged issued share 
capital of 1,379,498,574 shares in issue.

-END-

 Enquires

HENDERSON MORLEY PLC                                                          0121 442 4600 
Andrew Knight, Chairman                

RIVINGTON STREET CORPORATE FINANCE                                 0207 562 3380
Dru Edmonstone

BREWIN DOLPHIN INVESTMENT BANKING                                   0113 241 0126
Neil Baldwin

BISHOPSGATECOMMUNICATIONS LTD                                        0207 562 3350
Maxine Barnes 
Gemma O'Hara

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