July 16 (Reuters) - Scidev Ltd SDV.AX :
* SCIDEV- RECEIVED BINDING COMMITMENTS FROM 2 MAJOR INSTITUTIONAL INVESTORS TO SUBSCRIBE FOR 7.7 MILLION SHARES AT $0.65C PER SHARE TO RAISE $5M
* SCIDEV- ISSUE PRICE OF $0.65C PER SHARE
* SCIDEV- FUNDS FROM PLACEMENT WILL BE PUT FOR UPGRADE OF KINGS PARK FACILITY
* SCIDEV LTD- WILL ALSO UNDERTAKE A SHARE PURCHASE PLAN TO RAISE UP TO A FURTHER $2M AT $0.65 PER SHARE