For best results when printing this announcement, please click on link below:
http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20200914:nRSN8190Ya
RNS Number : 8190Y ValiRx PLC 14 September 2020
VALIRX PLC
("ValiRx", the "Company" or the "Group")
Exercise of Warrants and Warrant Update
London, UK 14 September 2020: ValiRx Plc (AIM: VAL), the clinical stage
biotechnology company announces it has received notifications for the
exercise of warrants over 1,270,000 ordinary shares in the Company at an
exercise price of 12.5 pence per share providing the Company with proceeds of
£158,750 ("Warrant Exercise").
Application will be made to the London Stock Exchange to admit the 1,270,000
new ordinary shares resulting from the Warrant Exercise to trading on AIM.
Admission of the new ordinary shares is expected to occur on or around 17
September 2020. The new ordinary shares will rank pari passu with the
existing ordinary shares.
For the purposes of the Disclosure and Transparency Rules, following the issue
of shares detailed above as a result of the Warrant Exercise, the enlarged
issued share capital of the Company will comprise 58,589,423 ordinary shares
of 0.1 pence each. The Company does not hold any shares in 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 and
Transparency Rules.
Warrant Update
In addition, the Company confirms that the qualifying criteria for the
accelerated exercise of the Broker Warrants, as announced on 4 May 2020, of
achieving a closing price over 15p for 5 consecutive days has been met. The
Board does not intend calling on holders to exercise their warrants at this
time, but reminds warrant holders that they are able to do so at the time of
their choosing, until the earlier of 26 May 2021 or the expiry of an
accelerated exercise period.
As at the date of this announcement, 6,744,728 warrants at 13p have been
exercised bringing gross proceeds of circa £876,000 to the Company and
2,290,004 warrants exercisable at 13p are outstanding. The aggregate number of
warrants exercised at 13p in the month of September (and subject to the block
listing announced on 19 August 2020) will be notified in the monthly total
voting rights update on 1 October 2020.
This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014.
For further information please contact:
ValiRx plc Tel: +44 (0) 20 7073 2628
www.valirx.com (http://www.valirx.com/)
Suzanne Dilly Suzanne.Dilly@valirx.com
Cairn Financial Advisers LLP (Nominated Adviser) Tel: +44 (0) 20 7213 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
Peterhouse Capital Limited (Sole Broker) Tel: +44 (0) 20 7469 0930
Duncan Vasey / Lucy Williams / Eran Zucker
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END MSCEAPNDFALEEEA