AGY Allergy Therapeutics Plc

17 November 2015

Allergy Therapeutics plc

("Allergy Therapeutics", the "Company" or the "Group")

Results of Placing

Allergy Therapeutics, the fully integrated specialty pharmaceutical company specialising in allergy vaccines, is pleased to announce the successful completion of the Placing announced earlier today.

A total of 41,005,500 new ordinary shares (the "New Shares") have been placed by Panmure Gordon at a price of 28 pence per share (the "Placing Price") to raise approximately £11.5 million (before expenses) for the Company. The New Shares being issued represent approximately 7.5 per cent. of the issued ordinary share capital of the Company prior to the Placing. The Placing Price represents a discount of 0.6 per cent. to the average mid-market closing price over the previous 60 trading days up to and including 16 November 2015, being the last practicable day before the announcement of the Placing.

Manuel Llobet, Chief Executive Officer, stated:

"We are delighted with the result of this oversubscribed fundraising and would like to take the opportunity to welcome new investors in the Company as well as thank our existing investors for their continued support. We look forward to putting the proceeds of the Placing to use in the business, with a view to generating significant additional value for our shareholders".

Panmure Gordon is acting as Financial Adviser, Nominated Adviser and Corporate Broker in respect of the Placing. Unless the context requires otherwise, capitalised terms in this announcement have the same meanings as defined in the Company's announcement released via RNS at 7.01am today.

Related Party Transaction

Where a company enters into a related party transaction, under the AIM Rules for Companies, the independent directors of the company are required, after consulting with the company's nominated adviser, to state whether, in their opinion, the transaction is fair and reasonable in so far as its shareholders are concerned.

As at the date of this announcement, Beagle Partners LLP ("Beagle Partners") has an interest in 125,183,783 Ordinary Shares (on behalf of Southern Fox Investments Limited as its investment manager), representing 22.9 per cent. of the issued share capital of the Company. Beagle Partners has subscribed £0.5 million for 1,785,000 Ordinary Shares in the Placing. The issue of Ordinary Shares to Beagle Partners constitutes a related party transaction under Rule 13 of the AIM Rules for Companies.

The Directors, having consulted with Panmure Gordon, the Company's nominated adviser, consider that the terms of Beagle Partners' participation in the Placing are fair and reasonable insofar as the shareholders are concerned.

Application for admission to trading on AIM and total voting rights

Application has been made to the London Stock Exchange for admission to trading of the New Shares on AIM ("Admission"). It is expected that Admission will take place at 8:00 a.m. on 20 November 2015 (at which time the Placing will become unconditional) and that dealings in the New Shares on AIM will commence at the same time.

The New Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares in the capital of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the New Shares.

Allergy Therapeutics' enlarged issued ordinary share capital immediately following Admission will be 586,853,419 Ordinary Shares with voting rights attached. The Company has no shares in Treasury; therefore the total number of voting rights in Allergy Therapeutics is 586,853,419. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify an interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

www.allergytherapeutics.com