REG - ValiRx PLC - Issue of Equity <Origin Href="QuoteRef">VALX.L</Origin>

ValiRxAnnouncement

18/12/2014 07:11

RNS Number : 1105A
ValiRx PLC
18 December 2014
18 December 2014
ValiRx Plc
("ValiRx" or the "Company")
Placing to raise 800,000
The Placing
ValiRx Plc (AIM: VAL), the life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, is pleased to announce that it has raised 800,000 by way of a placing of 400,000,000 new ordinary shares of 0.1p each in the capital of the Company (the "Placing Shares") at a price of 0.2 pence per Placing Share (the "Placing") with a range of institutional and other investors. The Placing was conducted by Daniel Stewart & Company Plc. 
All of the Company's directors are participating in the Placing, investing, in aggregate, 60,000, as set out in the table below.
Director
Number of shares held prior to the Placing 
Number of shares subscribed for in the Placing
Number of shares held following the Placing
Shareholding as % of enlarged share capital
Satu Vainikka
23,113,714
5,000,000
28,113,714
0.84%
George Morris
18,535,993
5,000,000
23,535,993
0.70%
Gerry Desler
12,733,921
5,000,000
17,733,921
0.53%
Kevin Alexander
8,034,843
5,000,000
13,034,843
0.39%
Oliver Degiorgio-Miller
2,444,411
5,000,000
7,444,411
0.22%
Seppo Makinen
1,273,387
5,000,000
6,273,387
0.19%
Use of Proceeds
The Directors intend to utilise the net proceeds of the Placing in order to: 
 pursue technological developments for the Company's GeneICE platform; 
 prepare VAL101 for clinical development; 
 progress VAL401 towards the clinic; 
 progress the development and commercialisation of the Company's Biomarker technologies; and 
 fund general business development activities. 
Dr Satu Vainikka, Chief Executive of ValiRx Plc, commented:"With a clinical trial for our lead compound VAL201 now underway, we are happy that this Placing allows the Company to develop the rest of its portfolio further and we are grateful and pleased by the support received from both new and existing shareholders."
Admission
The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company. Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00am on 6 January 2015.
Total Voting Rights
Following Admission, the Company's enlarged issued share capital will comprise 3,341,382,514 ordinary shares of 0.1p each ("Ordinary Shares") with voting rights. The Company does not hold any shares in treasury. This figure of 3,341,382,514 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
- ENDS -
For more information, please contact:
ValiRx plc
Tel: +44 (0) 20 3008 4416
Dr Satu Vainikka
www.valirx.com




Cairn Financial Advisers LLP (Nominated Adviser)
Tel: +44 (0) 20 7148 7900
Liam Murray / Avi Robinson





Daniel Stewart & Company Plc (Broker)
Tel: +44 (0) 20 7776 6550
Martin Lampshire / Mark Treharne



Peckwater PR
Tel: +44 (0) 7879 458 364
Tarquin Edwards
tarquin.edwards@peckwaterpr.co.uk
Notes to editors
ValiRxPlc
ValiRx Plc is a biopharmaceutical company developing novel technologies and products in oncology therapeutics and diagnostics. The product focus is in the epigenomic analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.
The Company listed on AIM in October 2006 and is creating a portfolio of innovative products through investment in specific development projects. It actively manages projects within this portfolio as a trading company and is not an investment vehicle. The ValiRx business model spreads the risks of life science technology developments by minimising financial exposure and running a set of projects to defined commercial endpoints. This maximises returns to shareholders by adding value at the earlier stages where value increases per investment unit are the greatest.
The Company operates through the following divisional companies:
1. ValiFinn is the biomarkers and diagnostic development division
2. ValiPharma is the therapeutics division with two embedded technologies primarily directed at the treatment of cancers.

This information is provided by RNS
The company news service from the London Stock Exchange
  END
IOEVDLFFZLFBFBE