Tiziana Life Sciences PLC Placing and Issue of Equity (4366Z)
December 15 2017 - 2:00AM
UK Regulatory
TIDMTILS
RNS Number : 4366Z
Tiziana Life Sciences PLC
15 December 2017
Tiziana Life Sciences plc
("Tiziana" or the "Company")
Placing to raise GBP200,000 and issue of equity
London, December 15, 2017 - Tiziana Life Sciences plc (AIM:
TILS), a clinical stage biotechnology company developing targeted
drugs for cancer and autoimmune diseases, today announces that it
has raised GBP200,000 through the issue of 133,333 new ordinary
shares ("Placing Shares") at a price of 150p per share (the
"Placing"). Each Placing Share has a warrant attached entitling the
holder to subscribe for one new ordinary share at an exercise price
of 160p per share, exercisable until 15 December 2022. Fees in
connection with the Placing are to be satisfied through the issue
of an additional 31,667 warrants on the same terms.
The funds will be used to support the completion of the current
clinical trial for its lead compound Milciclib (an update on which
was announced on 8 December 2017), and on development costs for
Foralumab, the anti-CD3 antibody.
In addition, it has come to the Company's attention that an
error was made in calculating shares due to former holders of
convertible loan notes, which resulted in a total of 810,201 shares
not being issued to a small number of former note holders in the
conversion announced on 16 August 2017 ("Outstanding Loan Note
Shares").
Application has been made to the London Stock Exchange plc to
admit the Placing Shares and Outstanding Loan Note Shares to
trading on AIM with admission expected to occur on 20 December
2017. These shares will rank pari passu with the existing ordinary
shares of nominal value 3p each in the capital of the Company (the
"Ordinary Shares"). Following the issue of the Placing Shares and
Outstanding Loan Note Shares, the enlarged issued share capital of
the Company will comprise 125,054,805 Ordinary Shares.
The Company has granted options over a total of 10,717,403
Ordinary Shares of which 5,085,833 are vested at exercise prices
between 15p and GBP1.25p per share and 5,631,570 remain subject to
vesting conditions (at potential exercise prices ranging from 15p
to GBP1.925 per share). In addition warrants to subscribe for a
total of 4,687,912 Ordinary Shares at exercise prices between 50p
and GBP2.50 are outstanding, including the new warrants granted in
the Placing.
Therefore the fully diluted issued share capital of the Company
is 140,460,120 Ordinary Shares (assuming all options and warrants,
vested and unvested, exercised and exercisable, were
converted).
In conformity with DTR 5.6.1, the Company notifies that as at
the date of this announcement, it has a single class of shares in
issue being Ordinary Shares and that following the issue of the
Placing Shares, the total number of Ordinary Shares in issue will
be 125,054,805. There are no Ordinary Shares held in Treasury. Each
Ordinary Share entitles the holder to a single vote at general
meetings of the Company.
This figure of 125,054,805 Ordinary Shares may be used by
shareholders (and others with notification obligations) as the
denominator for the calculations by which they will determine
whether they are required to notify their interest in, or a change
to their interest in, the Company under the FCA's Disclosure
Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Contacts
Tiziana Life Sciences plc
Gabriele Cerrone, Chairman and founder +44 (0)20 7493 2853
Cairn Financial Advisers LLP (Nominated adviser)
Liam Murray / Jo Turner +44 (0)20 7213 0880
Beaufort Securities Limited (Broker)
Elliot Hance +44 (0)20 7382 8300
FTI Consulting
Simon Conway / Natalie Garland-Collins +44 (0)20 3727 1000
About Tiziana
Tiziana is a UK biotechnology company that focuses on the
discovery and development of novel molecules that treat human
disease in oncology and immunology. The Company is focused on its
lead compound milciclib. The Company is also in clinical
development of foralumab. Foralumab is the only fully human
engineered human anti-CD3 antibody in clinical development. This
phase II compound has potential application in a wide range of
autoimmune and inflammatory diseases, such as nonalcoholic
steatohepatitis (NASH), primary biliary cholangitis (PBS),
ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D),
inflammatory bowel disease (IBD), psoriasis and rheumatoid
arthritis, where modulation of a T-cell response is desirable.
For more information go to
http://www.tizianalifesciences.com
This information is provided by RNS
The company news service from the London Stock Exchange
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