I have bought some, well quite a lot of xen shares. I havent a clue what the news was about today so if anyone out their can explain it to me in english I would appreciate it. I received a load of rubbish in the post a few weeks ago but didnt understand it so I just binned it. Thanks Mojo

I notice you have quite a bit explained on another post and I presume you did not take up the offer - the news is:

LONDON (AFX) - Xenova Group PLC said it has raised 21.1 mln stg from a UK placing, US private placement and open offer. (I think this means that they got all the money they wanted?)

The placings and open offer consisted of 18.76 mln units at 112.5 pence per unit.

Each unit comprised 10 offer shares and 3 warrants, the company said. (So for every 1.125 the company received, they gave 10 shares which @ 10p is worth 1.00 and they also gave 3 warrants. The warrants allows the holder to buy 3 shares @ 12.5p between the dates below. )

Each warrant entitles the holder to subscribe for one new share at a price of 12.5 pence between July 1 2004-Dec 31 2008.

This is only a good deal if between 01/07/04 and 31/12/08 the share price goes above 12.5p

Does this help?