REG - ValiRx PLC - Result of Retail Offer, Subscription

ValiRxAnnouncement

19/12/2023 18:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231219:nRSS3732Xa&default-theme=true

RNS Number : 3732X  ValiRx PLC  19 December 2023

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA,
CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EEA, OR ANY OTHER
JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE
A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

THE COMMUNICATION OF THIS ANNOUNCEMENT AND ANY OTHER DOCUMENTS OR MATERIALS
RELATING TO THE RETAIL OFFER AS A FINANCIAL PROMOTION IS ONLY BEING MADE TO,
AND MAY ONLY BE ACTED UPON BY, THOSE PERSONS IN THE UNITED KINGDOM FALLING
WITHIN ARTICLE 43 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL
PROMOTION) ORDER 2005, AS AMENDED (WHICH INCLUDES AN EXISTING MEMBER OF VALIRX
PLC). ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES
IS AVAILABLE ONLY TO SUCH PERSONS AND WILL BE ENGAGED IN ONLY BY SUCH PERSONS.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE
OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION
OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF VALIRX PLC.

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.

 

19 December 2023

VALIRX PLC

("ValiRx" or the "Company")

Result of Retail Offer

Director and PDMR Subscription

Further to the Conditional Fundraise, Notice of General Meeting announcement
dated 13 December 2023, ValiRx plc (the "Company") (AIM: VAL), is pleased to
announce that, following the closing of the Retail Offer on the BookBuild
platform on 19 December 2023, a total of 3,204,068 new Shares have been
subscribed for at the Issue Price of 6 pence per Retail Offer Share in
connection with the Retail Offer, raising £192,244 for the Company, before
expenses. In addition, the Company has conditionally issued 499,998 new Shares
at the Issue Price of 6 pence per Subscription Share pursuant to the
Subscription.

Consequently, 26,324,997 Placing Shares, 499,998 Subscription Shares and
3,204,068 Retail Offer Shares, resulting in a total of 30,029,063 new Shares,
will be issued conditional on shareholder approval at the Company's
forthcoming general meeting and Admission, in relation to the Placing,
Subscription and Retail Offer, raising total gross proceeds of approximately
£1.80 million.

Subscription

In addition to the Placing and the Retail Offer, certain Directors and PDMRs
(together the "Participants") of the Company have agreed to subscribe directly
with the Company for, in aggregate, 499,998 Subscription Shares at the Issue
Price of 6 pence per Share. Details of the Subscription are set out below:

 Director/PDMR         Existing beneficial shareholding  Subscription Shares subscribed for  Shareholding on completion of the Fundraising  Shareholding as a percentage of the Enlarged Share Capital
 Suzanne Dilly         416,668                           66,666                              483,334                                        0.37%
 Kevin Cox             372,333                           150,000                             522,333                                        0.39%
 Gerry Desler          128,668                           66,666                              195,334                                        0.15%
 Martin Lampshire      144,000                           150,000                             294,000                                        0.22%
 Cathy Tralau-Stewart  -                                 66,666                              66,666                                         0.05%

In addition to the Subscription, and as announced on 13 December 2023, Stella
Panu, Non-Executive Director of the Company has subscribed for 333,333 Placing
Shares. Subject to the passing of the Fundraising Resolutions, the Placing
Agreement becoming unconditional and Admission, Stella Panu will hold 333,333
Shares representing approximately 0.25% of the Enlarged Share Capital of the
Company.

The aggregate participation by all Directors and PDMRs pursuant to the Placing
and Subscription is approximately £50k.

The participation of the Participants in the Subscription constitutes a
related party transaction for the purposes of Rule 13 of the AIM Rules by
virtue of the Participants being a director or PDMR of the Company and
therefore a related party (the "Transactions"). Stella Panu, Non-Executive
Director, being a director of the Company independent of the Transactions
considers, having consulted with Cairn Financial Advisers LLP, the Company's
nominated adviser for the purposes of the AIM Rules, that the terms of the
Transactions are fair and reasonable in so far as the Shareholders are
concerned.

The Retail Offer Shares and Subscription Shares will, when issued, be credited
as fully paid up and will have the same rights as the Existing Ordinary Shares
including, voting, dividend, return of capital and other rights, and will on
issue be free of all claims, liens, charges, encumbrances and equities.

Capitalised terms used in this announcement have the meaning given to them in
the Conditional Fundraise, Notice of General Meeting announcement dated 13
December 2023, unless otherwise defined in this announcement.

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 (mailto:Suzanne.Dilly@valirx.com)

 V Formation (Public Relations)                      +44 (0) 115 787 0206

                                                     www.vformation.biz (http://www.vformation.biz)

 Lucy Wharton - Senior PR Executive

 Sue Carr - Director                                 lucy@vformation.biz

                                                     sue@vformation.biz
 Cairn Financial Advisers LLP (Nominated Adviser)    Tel: +44 (0) 20 7213 0880

 Liam Murray/Jo Turner/Ludovico Lazzaretti

 Cavendish Capital Markets Limited (Joint Broker)    Tel: +44 (0) 20 7397 8900

 Dale Bellis/Michael Johnson (Sales)

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

 James Pope / Andy Thacker

 

Notes for Editors

About ValiRx

ValiRx is a life science company focused on early-stage cancer therapeutics
and women's health, accelerating the translation of innovative science into
impactful medicines to improve patient lives.

ValiRx provides the scientific, financial, and commercial framework for
enabling rapid translation of innovative science into clinical development.

Using its extensive and proven experience in research and drug development,
the team at ValiRx selects and incubates promising novel drug candidates and
guides them through an optimised process of development, from pre-clinical
studies to clinic and investor-ready assets.

ValiRx connects diverse disciplines across scientific, technical, and
commercial domains, with the aim of achieving a more streamlined, less costly,
drug development process. The team works closely with carefully selected
collaborators and leverages the combined expertise required for science to
advance.

Lead candidates from ValiRx's portfolio are outlicensed or partnered with
investors through ValiRx subsidiary companies for further clinical development
and commercialisation.

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

For further information, visit: www.valirx.com (http://www.valirx.com)

 

Cautionary statement

Certain statements made in this announcement are forward-looking statements.
Such statements are based on current expectations and assumptions and are
subject to a number of risks and uncertainties that could cause actual events
or results to differ materially from any expected future events or results
expressed or implied in these forward-looking statements. Persons receiving
this announcement should not place undue reliance on forward-looking
statements. Unless otherwise required by applicable law, regulation or
accounting standard, the Company does not undertake to update or revise any
forward-looking statements, whether as a result of new information, future
developments or otherwise.

 

 

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  ROIGZMMZRLVGFZM