Result of Retail Offer
04/04/2024 07:00
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RNS Number : 2113J Evgen Pharma PLC 04 April 2024
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OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, NEW
ZEALAND, CANADA, SOUTH AFRICA OR JAPAN, OR ANY OTHER JURISDICTION WHERE, OR TO
ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF
ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE IMPORTANT NOTICES AT THE END
OF THIS ANNOUNCEMENT.
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ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
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Evgen Pharma plc
("Evgen" or the "Company" or "the Group")
Result of Retail Offer
4 April 2024 - The Board of Evgen Pharma Plc is pleased to announce that the
Retail Offer launched on 19 March 2023 has now closed, raising in aggregate
£51,670 through the issuance of 5,167,000 Retail Offer Shares at a price of 1
pence each.
Accordingly, conditional on the passing of the Resolutions at the General
Meeting and Admission, the Company has conditionally raised total gross
proceeds of approximately £0.90 million in aggregate by way of the
Fundraising.
Application has been made to the London Stock Exchange in connection with the
admission of a total of 152,458,778 new Ordinary Shares to trading on AIM.
This will comprise (i) 79,400,000 Placing Shares; (ii) 5,600,000 Subscription
Shares (iii) 62,291,778 Initial Consideration Shares related to the
Acquisition, and (iv) 5,167,000 Retail Offer Shares. The New Ordinary Shares,
when issued, will rank pari passu with the existing Ordinary Shares then in
issue.
Subject to, and conditional on, the Resolutions being passed at the General
Meeting, Admission is expected to occur on 5 April 2024.
A separate announcement will be made following the General Meeting as to the
results of the General Meeting and the total voting rights following
Admission.
Unless otherwise defined, all capitalised terms used but not defined in this
announcement shall have the meaning given to them in the announcement of the
Fundraising made by the Company on 19 March 2024.
-Ends-
Enquiries:
Evgen Pharma plc +44 (0) 1625 315 090
Dr Huw Jones, CEO
enquiries@evgen.com
Toni Hänninen, CFO
Dr Helen Kuhlman, CBO
Cavendish Capital Markets (NOMAD and Broker) +44 20 7220 0500
Geoff Nash / Teddy Whiley / Rory Sale (Corporate Finance)
Nigel Birks / Harriet Ward (ECM)
Instinctif Partners +44 207 457 2020
Evgen@Instinctif.com
Melanie Toyne-Sewell / Jack Kincade
About Evgen Pharma plc
Evgen Pharma is a clinical stage drug development company developing
sulforaphane based medicines for the treatment of multiple diseases. The
Company's core technology is Sulforadex®, a method for synthesising and
stabilising the highly biologically active compound sulforaphane and novel
proprietary analogues based on sulforaphane.
The Company's lead asset, SFX-01, is a patented composition of synthetic
sulforaphane and alpha-cyclodextrin and has undergone clinical trials for
oestrogen-positive (ER+) metastatic breast cancer and recently a Phase 1b
study of the Company's new enteric coated tablet formulation. The FDA has
granted Orphan Drug status to SFX-01 in malignant glioma. SFX-01 will be
investigated initially in this indication as an investigator sponsored study
in the Netherlands.
The Company also has a wide number of collaborations with leading academic
centres in the UK, Europe and the US as part of the continuing strategy to
build the scientific data for the compound. Recently, Evgen completed an
out-licensing transaction with Stalicla SA, a Swiss specialist company in
neurodevelopmental disorders, commencing with autism spectrum disorder. The
deal, if successful, will generate milestone payments of $160.5m and a
double-digit royalty on sales.
The Company has its headquarters and registered office at Alderley
Park, Cheshire. It is listed on AIM in London and trades under the ticker
symbol EVG.
For further information, please visit: www.evgen.com (http://www.evgen.com/)
.
The Company's LEI is 213800NO3E6TSTQO8K20
This announcement should be read in its entirety. In particular, the
information in the "Important Notices" section of the announcement should be
read and understood.
IMPORTANT NOTICES
The Retail Offer is only open to investors in the United Kingdom who fall
within Article 43 of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (which includes an existing member of the
Company).
This announcement and the information contained herein is not for release,
publication or distribution, directly or indirectly, in whole or in part, in
or into or from the United States (including its territories and possessions,
any state of the United States and the District of Columbia (the "United
States" or "US")), Australia, New Zealand, Canada, Japan, the Republic of
South Africa or any other jurisdiction where to do so might constitute a
violation of the relevant laws or regulations of such jurisdiction.
The Retail Offer Shares have not been and will not be registered under the US
Securities Act of 1933, as amended (the "US Securities Act") or under the
applicable state securities laws of the United States and may not be offered
or sold directly or indirectly in or into the United States or to or for the
account or benefit of any US person (within the meaning of Regulation S under
the US Securities Act) (a "US Person"). No public offering of the Retail
Offer Shares is being made in the United States. The Retail Offer Shares are
being offered and sold outside the United States in "offshore transactions",
as defined in, and in compliance with, Regulation S under the US Securities
Act. In addition, the Company has not been, and will not be, registered under
the US Investment Company Act of 1940, as amended.
This announcement does not constitute an offer to sell or issue or a
solicitation of an offer to buy or subscribe for Retail Shares in the United
States, Australia, Canada, New Zealand, Japan, the Republic of South Africa or
any other jurisdiction in which such offer or solicitation is or may be
unlawful. No public offer of the securities referred to herein is being made
in any such jurisdiction.
The distribution of this announcement may be restricted by law in certain
jurisdictions and persons into whose possession any document or other
information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.
Cavendish Securities Plc ("Cavendish") is authorised and regulated in the
United Kingdom by the Financial Conduct Authority, is acting exclusively for
the Company and for no-one else and will not regard any other person (whether
or not a recipient of this announcement) as its client in relation to the
Retail Offer and will not be responsible to anyone other than the Company for
providing the protections afforded to its clients, nor for providing advice in
connection with the Retail Offer, Admission and the other arrangements
referred to in this announcement.
The value of Ordinary Shares and the income from them is not guaranteed and
can fall as well as rise due to stock market and currency movements. When you
sell your investment, you may get back less than you originally invested.
Figures refer to past performance and past performance is not a reliable
indicator of future results. Returns may increase or decrease as a result of
currency fluctuations.
Any indication in this announcement of the price at which the Ordinary Share
have been bought or sold in the past cannot be relied upon as a guide to
future performance. Persons needing advice should consult an independent
financial adviser. No statement in this announcement is intended to be a
profit forecast and no statement in this announcement should be interpreted to
mean that earnings or target dividend per share of the Company for the current
or future financial years would necessarily match or exceed the historical
published earnings or dividends per share of the Company.
Neither the content of the Company's website (or any other website) nor the
content of any website accessible from hyperlinks on the Company's website (or
any other website) is incorporated into or forms part of this announcement.
The Retail Offer Shares to be issued or sold pursuant to the Retail Offer will
not be admitted to trading on any stock exchange other than AIM.
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