REG - ValiRx PLC - Result of GM, Issue of Equity

ValiRxAnnouncement

02/02/2023 13:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230202:nRSB7721Oa&default-theme=true

RNS Number : 7721O  ValiRx PLC  02 February 2023

2 February 2023

 

ValiRx PLC ("ValiRx" or the "Company")

 

Result of GM, Issue of Equity

 

London, UK - ValiRx Plc (AIM: VAL), a life science company focusing on
early-stage cancer therapeutics and women's health announces that at its
General Meeting ("GM") held earlier today, resolutions 1 - 3 were duly passed
and resolution 4 was withdrawn. Details of the votes received in respect of
resolutions 1 - 3 will be available shortly on the Company's website.

Issue of Equity

Further to the announcement made on 17 January 2023, 3,054,545 new ordinary
shares have been issued, conditional upon Second Admission, pursuant to the
Broker Offer and following shareholder approval at the GM.

The Company has therefore allotted a total of 12,145,454 new ordinary shares
in connection with the Fundraising, raising £1.3 million in aggregate (before
expenses).

Warrants

In aggregate, 3,036,363 Fundraise Warrants have been issued, conditional upon
Second Admission, in connection with the Fundraising. The Fundraise Warrants
will be exercisable at a price of 14 pence per share. The Fundraise Warrants
are exercisable at any time until the third anniversary of Second Admission.

In connection with the Fundraising, TPI have been issued, conditional upon
Second Admission, 709,091 Adviser Warrants. The Adviser Warrants will be
exercisable at a price of 11 pence per share and are exercisable at any time
until the third anniversary of Second Admission.

Admission

Application has been made 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.

Total voting rights

For the purpose of the Disclosure Guidance and Transparency Rules, following
Second Admission the enlarged issued share capital of the Company will
comprise 102,319,610 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 13 January
2023.

 

ValiRx Chairman, Kevin Cox commented: "We would like to thank shareholders
for showing their support of our strategy to develop the tCRO through the
approval of resolutions 1 to 3. We look forward to updating the market on
progress in the near future."

The Directors of the Company take responsibility for this announcement.

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").

*** ENDS ***

 

For more information, please contact:

 

 ValiRx plc                                            Tel: +44 (0) 2476 796496

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

 Dr Suzanne Dilly, CEO                                 Suzanne.Dilly@valirx.com

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

 Liam Murray/Jo Turner/Ludovico Lazzaretti

 Cenkos Securities Limited (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.

 

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  IOEEAAAAELDDEFA