REG - Roquefort Theraptcs. - Conversion of Convertible Loan Notes

Roquefort TherapeuticsAnnouncement

07/11/2024 07:00

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RNS Number : 2613L  Roquefort Therapeutics PLC  07 November 2024

7 November 2024

Roquefort Therapeutics plc

("Roquefort Therapeutics" or the "Company")

Conversion of Convertible Loan Notes

 

Roquefort Therapeutics (LSE:ROQ), the Main Market listed biotech company
focused on developing first in class medicines in the high value and high
growth immunology and oncology markets, announces it has received notices to
convert a total face value of £267,106 convertible loan notes (the "CLNs")
resulting in the issue of 6,586,604 new ordinary shares in the Company (the
"CLN Shares").

 

In accordance with the terms of the CLNs, which were issued on 23 May 2024,
all accrued interest on the CLNs at a rate of 12.5% per annum is included in
the conversion into the Company's ordinary shares of £0.01 each ("Ordinary
Shares"). The conversion price of the CLNs is 4.29p, being 90% of the price
equal to the 10-day volume-weighted average price calculated backwards from
the date, which is three business days prior to the notice of conversion given
to the Company.

 

Following conversion of these CLNs, the Company has CLNs with a face value of
£387,894 outstanding.

 

Director/PDMR Shareholding

The abovementioned notices to convert included notices from directors Stephen
West, Ajan Reginald and Darrin Disley, as follows:

 

 Director       CLN Face Value  CLN Shares  Total Ordinary Shares Held After CLN Shares Issued
 Stephen West   £28,158         694,352     6,310,853
 Ajan Reginald  £26,316         648,930     12,311,981
 Darrin Disley  £21,053         519,149     2,015,050

 

Admission and Total Voting Rights

Application will be made for the CLN Shares to be admitted to trading on the
London Stock Exchange's Main Market for listed securities, which is expected
to occur on or around 12 November 2024 ("Admission"). The CLN Shares will rank
pari passu in all respects with the Company's existing Ordinary Shares.

 

Following Admission, the Company's issued share capital will comprise
135,736,602 Ordinary Shares in issue, with each share carrying the right to
one vote. The Company does not hold any Ordinary Shares in treasury. The
figure of 135,736,602 Ordinary Shares may be used by shareholders as the
denominator for the calculations by which they will determine if they are
required to notify their interest in, or of a change to their interest in the
Company under the FCA's Disclosure and Transparency Rules.

 

Regulatory Information

This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").

 

ENDS

Enquiries:
 Roquefort Therapeutics plc                      +44 (0)20 3918 8633
 Stephen West (Chairman) / Ajan Reginald (CEO)
 SP Angel Corporate Finance LLP (Broker)         +44 (0) 20 3470 0470

 David Hignell / Vadim Alexandre / Devik Mehta
 Buchanan (Public Relations)                     +44 (0)20 7466 5000

 Ben Romney / Jamie Hooper / George Beale
 Peak IR (Investor Relations)                    +33 (0)7 44 44 15 42

 Seb Wykeham

 

LEI: ‎254900P4SISIWOR9RH34

 

About Roquefort Therapeutics

Roquefort Therapeutics (LSE:ROQ) is a Main Market listed biotech company
developing first in class drugs in the high value and high growth immunology
and oncology markets prior to partnering with big pharma.

 

Roquefort Therapeutics' portfolio consists of five novel patent-protected
pre-clinical anti-cancer medicines.  The highly complementary profile of five
best-in-class medicines consists of:

 

·    Midkine antibodies with significant in vivo efficacy and toxicology
studies;

·    Midkine RNA therapeutics with novel anti-cancer gene editing action;

·    Midkine mRNA therapeutics with novel anti-cancer approach;

·    STAT-6 siRNA therapeutics targeting solid tumours with
significant in vivo efficacy; and

·    MK cell therapy with direct and NK cell-mediated anti-cancer action

 

For further information on Roquefort Therapeutics,
please visit www.roquefortplc.com (http://www.roquefortplc.com/)
 and @RoquefortTherap on X (formerly Twitter).

 

The notification below, made in accordance with the requirements of the UK
MAR, provides further detail:

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Stephen West
 2   Reason for the notification
 a)  Position/status                                              Executive Chairman
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Roquefort Therapeutics plc
 b)  LEI                                                          254900P4SISIWOR9RH34
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of £0.01 par value

     Identification code

                                                                  ISIN: GB00BMDQ2T15
 b)  Nature of the transaction                                    Conversion of loan notes into 694,352 ordinary shares
 c)  Price(s) and volume(s)                                       Price(s)                     Volume(s)
                                                                  4.29 pence per share         694,352
 d   Aggregated information

     - Aggregated volume                                          -       694,352

     - Price                                                      -       4.29p
 e)  Date of the transactions                                     7 November 2024
 f)  Place of the transactions                                    London Stock Exchange (XLON); Main Market

 

 

 

The notification below, made in accordance with the requirements of the UK
MAR, provides further detail:

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Ajan Reginald
 2   Reason for the notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Roquefort Therapeutics plc
 b)  LEI                                                          254900P4SISIWOR9RH34
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of £0.01 par value

     Identification code

                                                                  ISIN: GB00BMDQ2T15
 b)  Nature of the transaction                                    Conversion of loan notes into 648,930 ordinary shares
 c)  Price(s) and volume(s)                                       Price(s)                     Volume(s)
                                                                  4.29 pence per share         648,930
 d   Aggregated information

     - Aggregated volume                                          -       648,930

     - Price                                                      -       4.29p
 e)  Date of the transactions                                     7 November 2024
 f)  Place of the transactions                                    London Stock Exchange (XLON); Main Market

 

 

 

The notification below, made in accordance with the requirements of the UK
MAR, provides further detail:

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 1   Details of the person discharging managerial responsibilities / person closely
     associated
 a)  Name                                                         Dr Darrin Disley
 2   Reason for the notification
 a)  Position/status                                              Non-Executive Director
 b)  Initial notification /Amendment                              Initial
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Roquefort Therapeutics plc
 b)  LEI                                                          254900P4SISIWOR9RH34
 4   Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the financial instrument, type of instrument  Ordinary shares of £0.01 par value

     Identification code

                                                                  ISIN: GB00BMDQ2T15
 b)  Nature of the transaction                                    Conversion of loan notes into 519,149 ordinary shares
 c)  Price(s) and volume(s)                                       Price(s)                     Volume(s)
                                                                  4.29 pence per share         519,149
 d   Aggregated information

     - Aggregated volume                                          -       519,149

     - Price                                                      -       4.29p
 e)  Date of the transactions                                     7 November 2024
 f)  Place of the transactions                                    London Stock Exchange (XLON); Main Market

 

 

 

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