REG - ValiRx PLC - Broker Offer Results

ValiRxAnnouncement

17/01/2023 16:45

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RNS Number : 0265N  ValiRx PLC  17 January 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (THE "ANNOUNCEMENT") IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA,
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THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION,
RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE
ACQUIRE ANY SECURITIES OF THE COMPANY.

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 AS AMENDED BY REGULATION 11 OF THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS 2019/310. 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

Further to the announcement made at 7.00 a.m. on 13 January 2023 by the
Company in connection with the Fundraising to raise up to £1.5 million
(before expenses) (the "Fundraise Announcement"), ValiRx, a life science
company focusing on early-stage cancer therapeutics and women's health, is
pleased to announce that the conditional Broker Offer granted to Turner Pope
Investments (TPI) Limited received applications for an amount in excess of the
maximum £0.5 million available. In order to give priority to orders received
from existing ValiRx shareholders, after consultation with TPI, the Company
decided to scale back the order book such that applications for an aggregate
2,727,272 new ordinary shares (representing approximately £0.3 million
raised, before expenses) will be processed. A further 327,273 shares will be
issued under the Broker Offer to the Company's Nominated Adviser, Cairn
Financial Advisers LLP, in lieu of transactional fees payable.

The Broker Offer Shares will be issued at a price of 11 pence per Broker Offer
Share (being the Issue Price) and on the same terms and conditions as the
issue of the Placing Shares pursuant to the Placing.

The total gross proceeds for the Company from the Fundraising is £1.3
million.

Admission

Subject to shareholder approval at the General Meeting, the Company will make
an application to the London Stock Exchange plc for 3,054,545 new ordinary
shares to be admitted to trading on AIM ("Second Admission"). It is expected
that Second Admission of the Broker Offer Shares will become effective and
dealings will commence at 08.00 a.m. on 6 February 2023. The Broker Offer
Shares will rank pari passu with the Existing Shares.

Capitalised terms used in this announcement shall, unless otherwise defined,
have the same meanings as set out in the Company's announcement of 13 January
2023.

The Directors of the Company take responsibility for this announcement.

 

*** ENDS ***

 

 For more information, please contact:

  ValiRx plc                                           Tel: +44 (0) 2476 796496

  Dr Suzanne Dilly, CEO                                www.valirx.com (http://www.valirx.com/)

                                                       Suzanne.Dilly@valirx.com
 Cairn Financial Advisers LLP (Nominated Adviser)      Tel: +44 (0) 20 7213 088

  Liam Murray/Jo Turner/Ludovico Lazzaretti
 Cenkos Securities plc (Joint Broker)                  Tel: +44 (0) 20 7397 8900

 Russell Kerr/Michael Johnson (Sales)

 Callum Davidson/Giles Balleny (Corporate Finance)
 Turner Pope Investments (TPI) Limited (Joint Broker)  Tel: +44 (0) 20 3657 0050

 James Pope / Andy Thacker

 

Notes for Editors

About ValiRx

ValiRx accelerates the development of treatments in oncology and women's
health to improve patient lives. We provide the scientific, financial and
commercial framework towards enabling rapid translation of innovative science
into clinical development.

With our extensive and proven experience in research and drug development, we
select and incubate promising novel drug candidates and guide them through an
optimised process of development, from pre-clinical studies to clinic and
investor-ready assets.

Integrating science and business

We connect diverse disciplines across scientific, technical and commercial
domains, with the aim of achieving a more streamlined, less costly, drug
development process.  We work closely with our selected collaborators and
leverage the combined expertise required for science to advance.

Lead candidates from our portfolio are out-licensed or partnered with
investors through ValiRx subsidiary companies for further clinical development
and commercialisation. https://www.valirx.com/ (https://www.valirx.com/)

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

 

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