REG - Nuformix PLC - Subscription to raise £70,000 & issue of Warrants

NuformixAnnouncement

17/04/2023 07:00

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RNS Number : 2843W  Nuformix PLC  17 April 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK
LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN
ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN
THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH
INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS
SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

 

17 April 2023

 

Nuformix plc

 

("Nuformix" or the "Company")

 

Subscription to raise £70,000 and issue of Warrants

 

Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet
medical needs in fibrosis and oncology via drug repurposing, announces a
subscription to raise gross proceeds of £70,000 through a subscription for
35,000,000 new ordinary shares of 0.1 pence in the capital of the Company (the
"New Ordinary Shares") at a price of 0.20 pence per share (the
"Subscription").  The Subscription has been undertaken with a single UK-based
FCA regulated institutional investor.  The New Ordinary Shares will represent
approximately 4.7 per cent. of the Company's enlarged issued share capital.

 

In addition, the participant in the Subscription will be issued with one
warrant for every one New Ordinary Share subscribed for with an exercise price
of 0.25 pence per warrant.  These warrants will be exercisable for two years
from Admission ("Warrants").  If the Warrants were ultimately to be exercised
in full, it would result in the issue of an additional 35,000,000 new ordinary
shares raising a further £87,500 for progression of the Company's business
activities.  The New Ordinary Shares and Warrants are being issued pursuant
to the Company's existing share issuance authorities.

 

The net proceeds of the Subscription will be used by the Company primarily to
further advance its NXP002 programme for the inhaled treatment of idiopathic
pulmonary fibrosis ("IPF") in line with the announcement made on 27 March
2023.

 

Commenting, Dr Dan Gooding, Executive Director of Nuformix, said: "The funds
raised through the Subscription, the first from a new institutional
shareholder, will progress NXP002 by undertaking additional key studies that
in conjunction with our existing NXP002 data and ongoing studies, will enable
the Company to initiate discussions with potential licensees and support the
overall progression of the NXP002 programme to improve the treatment of IPF
via inhalation.  I look forward to providing further updates as we progress."

 

Admission and Total Voting Rights

 

Application will be made for the 35,000,000 New Ordinary Shares to be admitted
to the Official List of the FCA and to trading on the Main Market of the
London Stock Exchange ("Admission"). It is expected that Admission will become
effective and that unconditional dealings will commence on the London Stock
Exchange at 8.00 a.m. on 21 April 2023.

 

Following Admission of the New Ordinary Shares and the Fee Shares, the total
number of Ordinary Shares in issue will be 744,309,368, each with one voting
right.  The Company does not hold any rights in treasury.  The total voting
rights figure is therefore 744,309,368 and can be used by shareholders as the
denominator for the calculations by which they will determine whether they are
required to notify their interest in, or a change of their interest in, the
Company under the Disclosure Guidance and Transparency Rules of the Financial
Conduct Authority.

 

Enquiries:

 

 Nuformix plc
 Dr Dan Gooding, Executive Director                Via IFC Advisory

 Stanford Capital Partners Limited
 Tom Price / Patrick Claridge (Corporate Finance)  +44 (0) 20 3650 3650
 John Howes / Bob Pountney (Corporate Broking)     +44 (0) 20 3650 3652

 IFC Advisory Limited
 Tim Metcalfe                                      +44 (0) 20 3934 6630

 Zach Cohen                                        nuformix@investor-focus.co.uk

 

About Nuformix

 

Nuformix is a pharmaceutical development company targeting unmet medical needs
in fibrosis and oncology via drug repurposing. The Company aims to use its
expertise in discovering, developing and patenting novel drug forms, with
improved physical properties, to develop new products in new indications that
are, importantly, differentiated from the original (by way of dosage, delivery
route or presentation), thus creating new and attractive commercial
opportunities. Nuformix has a pipeline of preclinical assets with potential
for significant value and early licensing opportunities.

 

 

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