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    Pharmanet places 47.2m shares at 1.8c with options
    14:58, Friday, 29 December 2006

    Sydney - Friday - December 29: (RWE Australian Business News) -
    Pharmanet Group Ltd (ASX code: PNO) has completed a placement of 47.22
    million shares at 1.8c each, raising a total of $850,000.
    The issue includes 1-for-1 free attaching options, exercisable
    at 5c by December 31 2008.
    The issue of the options is subject to shareholder approval at
    the next general meeting of members, which is expected to be convened
    early in the New Year.
    Pharmanet shares last traded at 2.2c.

 
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