REG - ValiRx PLC - Broker Offer Results & Director/PDMR Subscription

ValiRxAnnouncement

10/12/2024 16:45

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RNS Number : 5679P  ValiRx PLC  10 December 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE MARKET
ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

ValiRx plc

 

("ValiRx" or the "Company")

 

Broker Offer Results and Director/PDMR Subscription

 

Further to the announcement made at 7.00 a.m. on 9 December 2024 by the
Company in connection with the Fundraising to raise up to £1,573,000 (before
expenses) (the "Fundraise Announcement"), ValiRx, a life science company
focusing on early-stage cancer therapeutics and women's health, announces that
a total of  38,461,538 Broker Offer Shares have been subscribed for at the
Issue Price in connection with the conditional Broker Offer, raising
£250,000.

 

Following the closing of the Broker Offer, the total gross proceeds for the
Company from the conditional Fundraising, comprising the Placing Shares, the
Subscription Shares and the Broker Offer Shares (together the "New Ordinary
Shares"), are £1,573,000.

 

Director/PDMR Subscription

As set out in the announcement of 9 December 2024, Mark Eccleston, CEO of the
Company has informed the Company that, in addition to his participation in the
Subscription, he has subscribed for a further 3,076,923 Broker Offer Shares
under the Broker Offer. Details of his shareholdings following completion of
the Fundraising and subject to shareholder approval at the General Meeting,
are set out below:

 

 Name            Number of existing Ordinary Shares and Subscription Shares  Number of Broker Offer Shares  Number of Ordinary Shares on Admission  Percentage of enlarged share capital on Admission
 Mark Eccleston  19,669,264(1)                                               3,076,923                      22,746,187                              6.08%

 

(1)of which, 9,846,145 New Ordinary Shares have been subscribed for by Mark
Eccleston directly, 5,538,470 New Ordinary Shares have been subscribed for by
OncoLytika Ltd (a company in which Dr. Eccleston is interested) and 2,307,692
New Ordinary Shares have been subscribed for by Mark Eccleston's partner.

 

Admission

Subject to shareholder approval at the General Meeting, the Company will make
an application to the London Stock Exchange plc for th New Ordinary Shares to
be admitted to trading on AIM ("Admission"). It is expected that Admission of
the New Ordinary Shares will become effective and dealings will commence at
8.00 a.m. on or around 31 December 2024. The New Ordinary Shares will rank
pari passu with the Existing Shares.

 

Total Voting Rights

For the purpose of the Disclosure Guidance and Transparency Rules, subject to
shareholder approval at the General Meeting and following Admission, the
enlarged issued share capital of the Company will comprise 374,348,672
ordinary shares of 0.1 pence each. The Company does not hold any shares in the
treasury. The above figure 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 a change to their interest in, the Company, under the
Disclosure Guidance and Transparency Rules.

 

Capitalised terms used in this announcement shall, unless otherwise defined,
have the same meanings as set out in the Company's announcement of 9 December
2024.

 

 

*** ENDS ***

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the
European Union (Withdrawal) Act 2018 ("UK MAR").The Directors of the Company
take responsibility for this announcement.

 

 

For more information, please contact:

 ValiRx plc                                        Tel: +44 (0) 2476 796496

                                                   www.valirx.com (http://www.valirx.com)

 Dr Mark Eccleston, CEO                            Mark.Eccleston (mailto:Mark.Eccleston@valirx.com) @valirx.com

                                                 (mailto:Mark.Eccleston@valirx.com)

 Cairn Financial Advisers LLP (Nominated Adviser)  Tel: +44 (0) 20 7213 0880

 Liam Murray / Ludovico Lazzaretti

 Shard Capital Partners LLP (Sole Broker)          Tel: +44 (0) 20 7186 9000

 Damon Heath

 V Formation (Public Relations)                    +44 (0) 115 787 0206

                                                   www.vformation.biz (http://www.vformation.biz)

 Lucy Wharton - Senior PR Executive

 Sue Carr - Director                               lucy@vformation.biz

                                                   sue@vformation.biz

 

 

Notes for Editors

 

About ValiRx

 

ValiRx is a life science company focused on early-stage cancer therapeutics
and women's health, accelerating the translation of innovative science into
impactful medicines to improve patient lives.

ValiRx provides the scientific, financial, and commercial framework for
enabling rapid translation of innovative science into clinical development.

 

Using its extensive and proven experience in research and drug development,
the team at ValiRx selects and incubates promising novel drug candidates and
guides them through an optimised process of development, from pre-clinical
studies to clinic and investor-ready assets.

ValiRx connects diverse disciplines across scientific, technical, and
commercial domains, with the aim of achieving a more streamlined, less costly,
drug development process. The team works closely with carefully selected
collaborators and leverages the combined expertise required for science to
advance.

 

Lead candidates from ValiRx's portfolio are outlicensed or partnered with
investors through ValiRx subsidiary companies for further clinical development
and commercialisation.

ValiRx listed on the AIM Market of the London Stock Exchange in October 2006
and trades under the ticker symbol: VAL.

 

For further information, visit: www.valirx.com (http://www.valirx.com/)

 

Cautionary statement

Certain statements made in this announcement are forward-looking statements.
Such statements are based on current expectations and assumptions and are
subject to a number of risks and uncertainties that could cause actual events
or results to differ materially from any expected future events or results
expressed or implied in these forward-looking statements. Persons receiving
this announcement should not place undue reliance on forward-looking
statements. Unless otherwise required by applicable law, regulation or
accounting standard, the Company does not undertake to update or revise any
forward-looking statements, whether as a result of new information, future
developments or otherwise.

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