ValiRx PLC Conversion of Loan Note (8102M)
August 02 2017 - 2:00AM
UK Regulatory
TIDMVAL
RNS Number : 8102M
ValiRx PLC
02 August 2017
ValiRx Plc
("ValiRx" or the "Company")
Loan Note Conversion and Issue of Equity
London, UK., 2 August 2017: ValiRx Plc (AIM: VAL), a life
science company, which focuses on clinical stage cancer therapeutic
development, taking proprietary & novel technology for
precision medicines towards commercialisation and partnering,
announces the conversion of the first tranche of the YA Global
Master SPV Ltd ("Yorkville") Convertible Loan Facility ("CLN"), the
terms of which are described in the announcement dated 2 September
2016.
Yorkville has elected to convert US$250,000 of its CLN (plus
accrued interest of US$5,241) into 10,149,193 ordinary shares at a
conversion price of 1.9171p per share.
US$40,105 (plus accrued interest) of this tranche of the CLN
remains outstanding as the Company elected to repay $58,338 of the
loan in cash.
US$1,250,000 of the second tranche of CLNs remain
outstanding.
Application for the 10,149,193 ordinary shares will be made to
the London Stock Exchange and trading in these shares is expected
to commence on or around 8 August 2017.
Following the issue of equity above the Company's issued share
capital will comprise of 153,958,193 ordinary shares.
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
*** ENDS ***
For more information, please contact:
ValiRx plc Tel: +44 (0) 20
3008 4416
www.valirx.com
Dr Satu Vainikka, Chief Executive Tel: +44 (0) 20
3008 4416
Tarquin Edwards, Head of Communications. Tel: +44 (0) 7879
458 364
tarquin.edwards@valirx.com
Cairn Financial Advisers LLP Tel: +44 (0) 20
(Nominated Adviser) 7213 0880
Liam Murray/Jo Turner/Richard
Nash
Beaufort Securities Limited Tel: +44 (0) 207
(Broker) 382 8300
Jon Belliss
Notes for Editors
About ValiRx
ValiRx is a biotechnology oncology focused company specialising
in developing novel treatments for cancer and associated
biomarkers. It aims to make a significant contribution in
"precision" medicine and science, namely to engineer a breakthrough
into human health and well-being, through the early detection of
cancer and its therapeutic intervention.
The Company's business model focuses on out-licensing
therapeutic candidates early in the development process. By aiming
for early-stage value creation, the company reduces risk
considerably while increasing the potential for realising value.
The group is already in licensing discussions with major players in
the oncology field.
ValiRx's two classes of drugs in development, which each have
the potential for meeting hitherto unmet medical needs by existing
methods, have worldwide patent filings and agreed commercial
rights. They originate or derive from Word class institutions, such
as Cancer Research UK and Imperial College.
Until recently, cancer treatments relied on non-specific agents,
such as chemotherapy. With the development of target-based agents,
primed to attack cancer cells only, less toxic and more effective
treatments are now possible. New drugs in this group-such as those
in ValiRx's pipeline-promise to greatly improve outcomes for cancer
patients.
The Company listed on the AIM Market of the London Stock
Exchange in October 2006 and trades under the ticker symbol:
VAL.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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