Exercise of Warrants and Issue of Shares

RNS Number : 0565C

Open Orphan PLC

05 February 2020

 

5 February 2020

Open Orphan Plc

("Open Orphan" or the "Company")

Exercise of Warrants and Issue of Shares

Total Voting Rights

Open Orphan plc (ORPH), a rapidly growing specialist pharmaceutical services company which has a focus on orphan drugs, announces that the Company has received notices of exercise of warrants over 539,654 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at a price of 0.1 pence per share for 191,051 Ordinary Shares and at a price of 2.2 pence per share for 348,603 Ordinary Shares. The gross proceeds of this exercise received by the Company amounts to £7,860.33.

Following the warrant exercise, the outstanding warrants over Ordinary Shares are as follows:

Number of Ordinary Shares	Exercise Price per share	Expiry Date
166,666	30 pence	6 June 2021
1,568,701	0.1 pence	10 December 2023
2,862,337	2.2 pence	10 December 2023
1,607,142	5.6 pence	27 June 2024

The Company has made application for 539,654 new Ordinary Shares, to be issued and allotted as a result of the warrant exercise set out above, to be admitted to trading on AIM and Euronext Growth.  Admission is expected to occur at 8.00 a.m. on 11 February 2020.

Total Voting Rights

Following the admission of 86,885,253 new Ordinary Shares in connection with the placing and subscription announced by the Company on 31 January 2020, which is expected to occur at 8.00 a.m. on 6 February 2020, and the admission of 539,654 new Ordinary Shares issued and allotted as a result of the warrant exercise set out above, which is expected to occur at 8.00 a.m. on 11 February 2020, the Company's total issued ordinary share capital will consist of 533,047,281 Ordinary Shares. This 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

Open Orphan Plc Tel: [phone]
Cathal Friel, Executive Chairman

Trevor Phillips, Chief Executive Officer Tel: [phone]    

Arden Partners (Nominated Adviser and Joint Broker) Tel: [phone]
John Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer

Davy (Euronext Growth Adviser and Joint Broker) Tel: [phone]
Anthony Farrell (Corporate Finance)

Camarco (Financial PR) Tel: [phone]
Tom Huddart / Billy Clegg / Dan Sherwen

Notes to Editors:

Open Orphan is a rapidly growing European full pharmaceutical services company with a focus on orphan drug and specialist services, comprising two commercial specialist CRO services businesses (Venn and hVIVO) and a developing early stage orphan drug genomics data platform business capturing valuable genetic data from patient populations with specific diseases with designated orphan drug status and incorporating AI tools.  In June 2019, Open Orphan acquired AIM-listed Venn Life Sciences Holdings plc in a reverse take-over and in January 2020 it completed the Merger with hVIVO plc. Venn, as an integrated drug development consultancy, offers CMC (chemistry, manufacturing and controls) , preclinical, phase I & II clinical trials design and execution and hVIVO, as an industry leading services provider in viral challenge studies and laboratory services, supports product development for customers developing antivirals, vaccines and respiratory therapeutics. The Merger with hVIVO created a European full pharma services company broadening the Company's customer base and with complementary specialist CRO services, widened the range of the Company's service offerings. Open Orphan is a rapidly growing European full pharmaceutical services company with a focus on orphan drug and specialist services, comprising two commercial specialist CRO services businesses (Venn and hVIVO) and a developing early stage orphan drug genomics data platform business capturing valuable genetic data from patient populations with specific diseases with designated orphan drug status and incorporating AI tools.  In June 2019, Open Orphan acquired AIM-listed Venn Life Sciences Holdings plc in a reverse take-over and in January 2020 it completed the merger with hVIVO plc. Venn, as an integrated drug development consultancy, offers CMC (chemistry, manufacturing and controls) , preclinical, phase I & II clinical trials design and execution and hVIVO, as an industry leading services provider in viral challenge studies and laboratory services, supports product development for customers developing antivirals, vaccines and respiratory therapeutics. The merger with hVIVO created a European full pharma services company broadening the Company's customer base and with complementary specialist CRO services, widened the range of the Company's service offerings.

 

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