ValiRx PLC Exercise of Warrants and Warrant Update (8190Y)
September 14 2020 - 2:00AM
UK Regulatory
TIDMVAL
RNS Number : 8190Y
ValiRx PLC
14 September 2020
VALIRX PLC
("ValiRx", the "Company" or the "Group")
Exercise of Warrants and Warrant Update
London, UK 14 September 2020: ValiRx Plc (AIM: VAL), the
clinical stage biotechnology company announces it has received
notifications for the exercise of warrants over 1,270,000 ordinary
shares in the Company at an exercise price of 12.5 pence per share
providing the Company with proceeds of GBP158,750 ("Warrant
Exercise").
Application will be made to the London Stock Exchange to admit
the 1,270,000 new ordinary shares resulting from the Warrant
Exercise to trading on AIM. Admission of the new ordinary shares is
expected to occur on or around 17 September 2020. The new ordinary
shares will rank pari passu with the existing ordinary shares.
For the purposes of the Disclosure and Transparency Rules,
following the issue of shares detailed above as a result of the
Warrant Exercise, the enlarged issued share capital of the Company
will comprise 58,589,423 ordinary shares of 0.1 pence each. The
Company does not hold any shares in treasury. The above figure may
be used by shareholders 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 Company, under
the Disclosure and Transparency Rules.
Warrant Update
In addition, the Company confirms that the qualifying criteria
for the accelerated exercise of the Broker Warrants, as announced
on 4 May 2020, of achieving a closing price over 15p for 5
consecutive days has been met. The Board does not intend calling on
holders to exercise their warrants at this time, but reminds
warrant holders that they are able to do so at the time of their
choosing, until the earlier of 26 May 2021 or the expiry of an
accelerated exercise period.
As at the date of this announcement, 6,744,728 warrants at 13p
have been exercised bringing gross proceeds of circa GBP876,000 to
the Company and 2,290,004 warrants exercisable at 13p are
outstanding. The aggregate number of warrants exercised at 13p in
the month of September (and subject to the block listing announced
on 19 August 2020) will be notified in the monthly total voting
rights update on 1 October 2020.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
ValiRx plc Tel: +44 (0) 20 7073
2628
www.valirx.com
Suzanne Dilly Suzanne.Dilly@valirx.com
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213
Adviser) 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
Peterhouse Capital Limited (Sole Broker) Tel: +44 (0) 20 7469
Duncan Vasey / Lucy Williams / Eran Zucker 0930
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END
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