TIDMMTPH
RNS Number : 7540N
Midatech Pharma PLC
28 October 2016
28 October 2016
Midatech Pharma PLC
("Midatech" or the "Company")
Result of General Meeting and Result of Open Offer
and
Issue of Equity
Midatech Pharma (AIM: MTPH; Nasdaq: MTP), the international
specialty pharmaceutical company focused on commercialising and
developing products in oncology and other therapeutic areas,
announces the results of the General Meeting in respect of its
recent GBP16.0m Placing and additional Open Offer at an Issue Price
of 110 pence per share, which was announced to the market on 11
October 2016, and the results of the Open Offer.
Open Offer
The last time and date for receipt of completed application
forms and payment in full under the Open Offer was 11.00 a.m. on 27
October 2016. The Company announces that at that time that it had
received valid acceptances in respect of 611,589 Open Offer Shares
from Qualifying Shareholders, including applications under the
Excess Application Facility, with a value of approximately
GBP672,748. This represents approximately 34.7% of the 1,760,495
Open Offer Shares offered. As a consequence, the Company has
conditionally raised GBP16.67 million (before expenses) in
aggregate through the Placing and Open Offer.
General Meeting
The Company is pleased to announce that at the General Meeting
held earlier today all resolutions were duly passed.
Issue of Equity
Application has been made for the 15,157,044 Placing Shares and
Open Offer Shares (in aggregate) to be admitted to trading on AIM
and it is expected that Admission will take place at 8.00 a.m. on
31 October 2016. The Placing Shares and Open Offer Shares will rank
pari passu with the existing Ordinary Shares.
Following Admission, the Company will have 48,699,456 Ordinary
Shares in issue, none of which are held in treasury. Shareholders
may use this figure 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 issued share
capital of the Company.
Unless otherwise defined, terms in this announcement shall have
the same meanings as those defined in the Placing Launch
Announcement on 11 October 2016.
- ENDS -
For more information, please contact:
Midatech Pharma PLC
Jim Phillips, CEO
Tel: +44 (0)1235 841 575
www.midatechpharma.com
Panmure Gordon (UK) Limited (Financial Adviser, Nominated
Adviser, and lead Bookrunner)
Corporate Finance
Freddy Crossley / Duncan Monteith
Corporate Broking
Tom Salvesen
Tel: +44 (0)20 7886 2500
Consilium Strategic Communications (Financial PR)
Mary Jane Elliott / Ivar Milligan / Hendrik Thys
Tel: +44 (0)20 3709 5700
Email: midatech@consilium-comms.com
Notes for Editors
About Midatech Pharma PLC
Midatech is an international specialty pharmaceutical company
focused on oncology and other therapeutic areas with a commercial
platform and four marketed products in the US. Midatech's strategy
is to develop products in-house in oncology and with partners in
other indications, and to accelerate growth organically and through
strategic acquisitions. The Company's R&D activities are
supported by two breakthrough drug delivery technologies. The
Group, listed on AIM: MTPH and Nasdaq: MTP, employs c.100 staff in
four countries. For further company information see:
www.midatechpharma.com.
Neither this press release, nor any copy of it may be made or
transmitted into the United States of America (including its
territories or possessions, any state of the United States of
America and the District of Columbia) (the "United States"). The
distribution of this press release in other jurisdictions may also
be restricted by law and persons into whose possession this
announcement comes should inform themselves about, and observe, any
such restrictions. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such
jurisdiction.
This press release does not constitute or form part of any offer
or invitation to sell or issue, or a solicitation of any offer to
acquire, purchase or subscribe for, securities of the Company.
Neither the Placing Shares nor the Open Offer Shares have been,
nor will be, registered under the US Securities Act of 1933, as
amended (the "US Securities Act") or the securities laws of any
state or jurisdiction of the United States, and may not be offered
or sold within the United States to, or for the account or benefit
of, US person (as that term is defined in Regulation S under the US
Securities Act), except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the US
Securities Act and such other applicable state securities laws.
Accordingly, the Placing Shares and the Open Offer Shares are
being offered hereby only (i) outside the United States in reliance
upon Regulation S under the US Securities Act in offshore
transactions or (ii) to "accredited investors" as defined in Rule
501(a) of Regulation D of the US Securities Act, in reliance on an
exemption from, or a transaction not subject to, the registration
requirements of the US Securities Act.
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of legislation in
the United Kingdom and/or United States, including (without
limitation) those regarding the Placing, the Open Offer and any
other potential offering of securities, the Group's financial
position, business strategy, products, plans and objectives of
management for future operations, and any statement preceded or
followed by, or including, words such as "target", "believe",
"expect", "aim", "intend", "will", "may", "anticipate", "would" or
"could", or negatives of such words. Any forward-looking statements
are based on currently available competitive, financial and
economic data together with management's views and assumptions
regarding future events and business performance as of the time the
statements are made and are subject to risks and uncertainties. We
wish to caution you that there are some known and unknown factors
that could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by
such forward-looking statements.
Reference should be made to those documents that Midatech shall
file from time to time or announcements that may be made by
Midatech in accordance with the London Stock Exchange AIM Rules for
Companies ("AIM Rules"), the Disclosure and Transparency Rules
("DTRs") and the rules and regulations promulgated by the US
Securities and Exchange Commission, which contains and identifies
other important factors that could cause actual results to differ
materially from those contained in any projections or
forward-looking statements. These forward-looking statements speak
only as of the date of this announcement. All subsequent written
and oral forward-looking statements by or concerning Midatech are
expressly qualified in their entirety by the cautionary statements
above. Except as may be required under the AIM Rules or the DTRs or
by relevant law in the United Kingdom or the United States,
Midatech does not undertake any obligation to publicly update or
revise any forward-looking statements because of new information,
future events or otherwise arising.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUWARRNRARUAA
(END) Dow Jones Newswires
October 28, 2016 06:12 ET (10:12 GMT)
Midatech Pharma (LSE:MTPH)
Historical Stock Chart
From Apr 2024 to May 2024
Midatech Pharma (LSE:MTPH)
Historical Stock Chart
From May 2023 to May 2024