Angle PLC Transfer of Lock-in Shares (0247Z)
December 12 2017 - 2:00AM
UK Regulatory
TIDMAGL
RNS Number : 0247Z
Angle PLC
12 December 2017
For immediate release 12 December 2017
ANGLE plc ("the Company")
Transfer of Lock-in Shares
ANGLE plc (AIM:AGL OTCQX:ANPCY), a world-leading liquid biopsy
company, announces that further to the announcement of 16 November
2017, finnCap and WG Partners have given their written consent to
allow Covington to transfer the 4,579,169 Ordinary Shares subject
to the Covington Lock-in Deed (the "Lock-in Shares") to Dermot
Keane, an existing significant shareholder in the Company.
Dermot Keane has entered into an equivalent agreement to the
Covington Lock-in Deed, pursuant to which he has agreed to not
dispose of any interest in the Lock-in Shares for a period of 18
months from 16 November 2017, save for: prior written consent being
received from finnCap and WG Partners; or to a connected person of
Dermot Keane; or in acceptance of any takeover offer; or where
required by law or pursuant to an intervening court order.
The transfer of the Lock-in Shares was agreed between Covington
and Dermot Keane as an off-market transaction at a price of 36
pence per Lock-in Share.
ANGLE Founder and Chief Executive, Andrew Newland,
commented:
"We are pleased that one of our significant shareholders has
further demonstrated his long term support for ANGLE and agreed
terms with Covington for the Lock-in Shares assisting them to
address the near-term redemption obligations of the Covington Fund
II."
Capitalised terms not otherwise defined in this announcement
shall have the same meaning ascribed to such terms in the
announcement entitled "Acquisition and Fundraising" released on 5
October 2017 unless the context requires otherwise.
For further information ANGLE:
ANGLE plc +44 (0) 1483 343434
Andrew Newland, Chief Executive
Ian Griffiths, Finance Director
finnCap Ltd (NOMAD and Joint
Broker)
Corporate Finance - Adrian
Hargrave, Simon Hicks, Kate
Bannatyne
Corporate Broking - Alice Lane,
Nikita Jain +44 (0) 20 7220 0500
WG Partners (Joint Broker)
Nigel Barnes, Nigel Birks,
Andrew Craig, Chris Lee +44 (0) 203 705 9330
FTI Consulting
Simon Conway, Mo Noonan, Stephanie
Cuthbert +44 (0) 203 727 1000
Kimberly Ha (US) +1 212 850 5612
For Frequently Used Terms, please see the Company's website on
http://www.angleplc.com/the-parsortix-system/glossary/
This announcement contains inside information.
Notes for editors
About ANGLE plc www.angleplc.com
ANGLE is a world leading liquid biopsy company with sample to
answer solutions. ANGLE's proven patent protected platforms include
an epitope-independent circulating tumor cell (CTC) harvesting
technology and a downstream analysis system for cost effective,
highly multiplexed analysis of nucleic acids and proteins.
ANGLE's cell separation technology is called the Parsortix(TM)
system and it enables a liquid biopsy (simple blood test) to be
used to provide the cells of interest. Parsortix is the subject of
granted patents in Europe, the United States, Canada, India, China,
Japan and Australia and three extensive families of patents are
being progressed worldwide. The system is based on a microfluidic
device that captures live cells based on a combination of their
size and compressibility. The Parsortix system has a CE Mark for
Europe and FDA clearance is in process for the United States.
ANGLE's analysis technology for proteins and nucleic acids of
all types is based on a patented flow through array technology. It
provides for highly multiplexed, rapid and sensitive capture of
targets from a wide variety of sample types. A proprietary
chemistry allows for the capture and amplification of over 100
biomarkers simultaneously in a single reaction. These technologies
can be combined to provide fully automated, sample to answer
results in both centralized laboratory and point of use cartridge
formats. It is ideal for measuring gene expression and other
markers directly from Parsortix harvests.
ANGLE has established formal collaborations with world-class
cancer centres. These Key Opinion Leaders are working to identify
applications with medical utility (clear benefit to patients), and
to secure clinical data that demonstrates that utility in patient
studies. Details are available here
http://www.angleplc.com/the-company/collaborators/
The analysis of the cells that can be harvested from patient
blood with ANGLE's Parsortix system has the potential to help
deliver personalised cancer care offering profound improvements in
clinical and health economic outcomes in the treatment and
diagnosis of various forms of cancer.
The global increase in cancer to a 1 in 3 lifetime incidence is
set to drive a multi-billion dollar clinical market. The Parsortix
system is designed to be compatible with existing major medtech
analytical platforms and to act as a companion diagnostic for major
pharma in helping to identify patients that will benefit from a
particular drug and then monitoring the drug's effectiveness.
As well as cancer, the Parsortix technology has the potential
for deployment with several other important cell types in the
future. ANGLE biomarker analysis platforms are adaptable to measure
protein and nucleic acid biomarkers across the full spectrum of
disease applications.
ANGLE stock trades on the AIM market of the London Stock
Exchange under the ticker symbol AGL and in New York on the OTC-QX
under the ticker symbol ANPCY. For further information please
visit: www.angleplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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