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Plethora Solutions (PLE)

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Friday 15 June, 2012

Plethora Solutions

Issue of Equity - Directors' Interest

RNS Number : 5134F
Plethora Solutions Holdings PLC
15 June 2012
 

 

 

15 June 2012

 

Plethora Solutions Holdings PLC

("Plethora" or the "Company")

Issue of Equity - Directors' Interest

 

 

Plethora Solutions Holdings plc (AIM: PLE), the UK-based speciality pharmaceutical company, announces that it has made the following share issues.

 

First, 140,000 shares have been issued to the pension fund of Ronald Openshaw, CEO, Plethora Solutions, at 5p per share to satisfy liabilities up to 31 May 2012. Following this issue Mr Openshaw has a beneficial interest in 416,669 shares representing approximately 0.2% of the enlarged issued share capital of the Company.

 

The Company and Mr Openshaw have agreed that on an ongoing basis it will satisfy his pension contributions on a quarterly basis through the issue of new ordinary shares issued at the closing mid-market price on the day before issue. Further issues will be made as soon as practicable following the end of each calendar quarter.  The next issue will be made following the end of the September quarter.  This arrangement will remain in place for a minimum of 12 months and may be terminated, thereafter, by either party following not less 3 months notice and provided that the Company is not in a Close Period as defined by the AIM Rules.

 

Second, 384,000 new shares have been issued to Richard Horsman, non-executive director, in satisfaction of director's fees accrued to him.  Following this issue Mr Horsman has a beneficial interest in 1,077,000 shares representing approximately 0.5% of the enlarged issued share capital of the Company.

 

Finally, the Company has issued 660,000 shares to a professional adviser in satisfaction of part of its fees.

 

Application will be made for the 1,184,000 new shares issued to be admitted to trading on AIM ("Admission"). It is expected that Admission will be effective and trading will commence at 8:00am on 19 June 2012.

 

Following Admission, the Company will have 208,941,531 Ordinary Shares in issue. Since the Company holds no shares in Treasury, the total number of voting rights in the Company is therefore 208,941,531 and this figure may therefore 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 in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

 

 

 

-Ends-

 

Enquiries:



Plethora Solutions

Ronald Openshaw, CEO

Tel : +44(0) 20 3077 5400

Daniel Stewart (Nomad & Joint Broker)

David Hart / James Felix (Nomad)

Martin Lampshire (Broker)

Tel : +44(0) 20 7776 6550

 

Hybridan LLP (Joint Broker)

Claire Louise Noyce/ Deepak Reddy

Tel: +44(0) 20 7947 4350

 

Britton Financial PR

Tim Blackston

Tel: +44 (0) 20 7242 9786

       +44 (0) 7957 140416

 

 

About Plethora:

Plethora is focussed on the development and marketing of products for the treatment of urological disorders.

 

Plethora is headquartered in the UK and is listed on the London Stock Exchange (AIM: PLE.L). Further information is available at www.plethorasolutions.co.uk and www.theurologyco.com

 

Plethora is focussed on: (i) seeking to launchPSD502 for the treatment of premature ejaculation; and (ii) driving the development of its speciality sales and marketing business, The Urology Co.

 

About PSD502 & Premature Ejaculation:

PSD502 is a topical spray for the treatment of premature ejaculation containing lidocaine and prilocaine in a eutectic-like mixture.  The product has completed all clinical testing and has been submitted for approval in Europe with the EMA.  The Company anticipates launch in late 2013 or early 2014.

 

Premature ejaculation is possibly the most common form of sexual dysfunction in men. Epidemiological studies conducted in the US and in Europe indicate a prevalence of 20 - 30% in men of all ages. There is currently no globally approved and effective pharmaceutical treatment for this condition.

 

In the absence of any widely approved pharmaceutical therapy with good patient acceptance, the premature ejaculation market offers significant potential for development and growth. An effective drug therapy for premature ejaculation may have a comparable commercial potential to the erectile dysfunction drugs.

 

About The Urology Co:

Plethora's subsidiary, The Urology Co, established in 2009, markets and distributes a range of pharmaceutical products, pharmaceutical specials, medical devices and nutritional supplements for the treatment of urology, sexual health, gynaecology and reproductive health conditions. Its products fall into two categories (i) Professional - where a physician, nurse or other healthcare professional makes a prescribing decision and include Gepan® instil, Striant® SR, Urolieve®, Hyalofemme® and Dianatal®; and (ii) Consumer - where the consumer/patient makes a buying decision and include Hyalofemme®, Multi-Gyn®, Multi-Mam® and hI-Cran®.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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