Immupharma PLC Completion of Lanstead Sharing Agreement (6150S)
October 04 2017 - 2:00AM
UK Regulatory
TIDMIMM
RNS Number : 6150S
Immupharma PLC
04 October 2017
4 OCTOBER 2017
ImmuPharma PLC
("ImmuPharma" or the "Company")
Completion of Lanstead Sharing Agreement
ImmuPharma plc (LSE: IMM), the specialist drug discovery and
development company, wishes to announce the completion of the
Sharing Agreement entered into with Lanstead Capital L.P.
('Lanstead') in February 2016 ("Sharing Agreement").
As announced on 5 February 2016, Lanstead subscribed for GBP4.4
million of new ordinary shares in ImmuPharma, with both parties
also entering into the Sharing Agreement. All 18 settlements of the
Sharing Agreement have now been completed. Through both the
subscription and Sharing Agreement, ImmuPharma has received a total
of just over GBP5.0 million from Lanstead, with a net gain of
GBP0.6 million more than originally subscribed.
Tim McCarthy, Chairman of ImmuPharma, commented:
"Lanstead has been an important supporter of ImmuPharma and we
are delighted how effectively the Sharing Agreement has worked for
both parties. We look forward to a continued supportive
relationship with Lanstead as ImmuPharma seeks to create long term
shareholder value within its asset portfolio and specifically our
focus on hitting key milestones within our lead programme
Lupuzor(TM), as we get nearer to reporting top-line Phase III
results in Q1 2018."
Nicholas Malins-Smith of Lanstead, commented:
"We are delighted to have been able to be supportive in the
progression of ImmuPharma's pivotal Phase III clinical trial of
Lupuzor(TM). Through the Sharing Agreement with Lanstead,
ImmuPharma has been able to benefit, through the increase in its
share price, by securing additional funds over and above the
original subscription amount.
"Lanstead is pleased to remain a supportive shareholder of
ImmuPharma and looks forward to the Company's further
progress."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Ends
For further information please
contact:
ImmuPharma plc (www.immupharma.org) + 44 (0) 20 7152 4080
Tim McCarthy, Chairman
Lisa Baderoon, Head of Investor Relations
Twitter: @immupharma + 44 (0) 7721 413496
Northland Capital Partners Limited (Joint Broker)
Patrick Claridge, David Hignell, Jamie Spotswood Corporate
Finance
Rob Rees, Corporate Broking +44 (0)20 3861 6625
This information is provided by RNS
The company news service from the London Stock Exchange
END
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