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

ValiRxAnnouncement

04/08/2016 11:35

RNS Number : 2787G
ValiRx PLC
04 August 2016
ValiRx Plc
("ValiRx" or "the Company" or "the Group")
Issue of Equity
ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine, announces that it has received a conversion notice from Bracknor to convert 180,000 of the Convertible Loan Notes ("CLNs") into ordinary shares of the Company (the "Conversion"). The conversion notice relates to the second tranche of CLNs that was notified and issued on 18 May 2016.
Following the Conversion no CLNs remain outstanding.
Issue of Equity
As a consequence of the Conversion, the Company has conditionally issued and allotted 2,950,820 ordinary shares at a price of 6.1p per share in the Company in consideration of the 180,000 loan note. The 2,950,820 ordinary shares will rank pari passu with the existing ordinary shares. Application for the 2,950,820 ordinary shares has been made to the London Stock Exchange and trading in these shares is expected to commence on or around 10 August 2016.
Following the issue of equity above the Company's issued share capital will comprise of 56,428,057 ordinary shares.
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For more information, please contact:
ValiRx plc
Tel: +44 (0) 20 3008 4416
www.valirx.com
Dr Satu Vainikka, Chief Executive
Tel: +44 (0) 20 3008 4416
Tarquin Edwards, Head of Communications.
Tel: +44 (0) 7879 458 364
tarquin.edwards@valirx.com
Mark Treharne, Corporate Development Manager
Tel: +44 (0) 7736 564 686
mark.treharne@valirx.com


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



Northland Capital Partners Limited (Joint Broker)
Tel: +44 (0) 203 861 6625
Patrick Claridge / David Hignell (Corporate Finance)
John Howes / Abigail Wayne (Broking)



Beaufort Securities Limited (Joint Broker)
Tel: +44 (0) 207 382 8300
Jon Belliss

Notes for Editors 
ValiRx Plc
ValiRx is a biotechnology oncology focussed company specialising in developing novel treatments for cancer and associated biomarkers. It aims to make a significant contribution in "precision" medicine and science, namely toengineer a breakthrough into human health and well-being, through the early detection of cancer and its therapeutic intervention.
The Company's business model focuses on out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the company reduces risk considerably while increasing the potential for realising value. The group is already in licensing discussions with major players in the oncology field. 
ValiRx's two classes of drugs in development, which each have the potential for meeting hitherto unmet medical needs by existing methods, have worldwide patent filings and agreed commercial rights. They originate or derive from Word class institutions, such as Cancer Research UK and Imperial College. 
Until recently, cancer treatments relied on non-specific agents, such as chemotherapy. With the development of target-based agents, primed to attack cancer cells only, less toxic and more effective treatments are now possible. New drugs in this group-such as those in ValiRx's pipeline-promise to greatly improve outcomes for cancer patients. 
The Company listed on the AIM market of the London StockExchange in October 2006 and trades under the ticker symbol: VAL.

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