Commencement of trading on the OTCQX Best Market

RNS Number : 7260Y

Shield Therapeutics PLC

17 May 2021

 

Shield Therapeutics plc

("Shield", the "Company" or the "Group")

Commencement of trading on the OTCQX Best Market in the United States

London, UK, 17 May 2021: Shield Therapeutics plc (LSE: STX), a commercial stage pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru®/Accrufer® (ferric maltol), announces that trading in the Company's Ordinary Shares of nominal value of £0.015 each ("Ordinary Shares") will begin today on the OTCQX Best Market ("OTCQX") in the United States, under the ticker symbol "SHIEF".

By trading on the premium OTCQX, Shield's shares will be available to US investors during US working hours and priced in US dollars and has the potential to increase liquidity in Shield's shares on AIM. The OTCQX is designed for established companies. Foreign Private Issuers, such as Shield, that trade on the OTCQX are exempt under the US Exchange Act Rule 12g3-2(b) from SEC reporting if they make whatever information is required by their home market regulator publicly available to US investors in English. Shield will therefore face no extra reporting obligations and incur minimal ongoing costs as a result of the Company's Ordinary Shares being traded on the OTCQX.  

Shield has retained MCAP LLC   to act as the Company's OTCQX advisor. MCAP is a US broker-dealer that provides institutional securities services and electronic market making.  MCAP also acted as the Company's OTCQX sponsor.

Shield's Ordinary Shares will continue to trade on the London Stock Exchange's AIM Market under the symbol "STX".

Commenting on this, Tim Watts, Shield CEO, said: "With the upcoming launch of Accrufer® in the US I believe that Shield will be of increasing relevance to US based investors. By making our shares available on the OTCQX Best Market many US investors should find it easier to buy and sell Shield shares than they would through AIM.  Shield's existing shareholders should benefit from this as liquidity increases."

Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group commented: "We are delighted to welcome Shield Therapeutics, to the OTCQX Market. Cross-trading on OTCQX will enable Shield Therapeutics, listed on the LSE AIM Market, to expand its U.S. investor base and enhance the Company's global reach. We look forward to providing the company and its investors with a transparent and efficient trading experience and all the benefits of our premium public market."

For further information, please contact:

Shield Therapeutics plc	[phone]
Tim Watts (CEO) Hans-Peter Rudolf (CFO)
Peel Hunt LLP - Nominated Adviser & Joint Broker			[phone]
James Steel / Christopher Golden
finnCap Ltd - Joint Broker	[phone]
Geoff Nash / Alice Lane / George Dollemore
Walbrook PR - Financial PR & IR Adviser		[phone]
Paul McManus / Lianne Cawthorne	or [e-mail]

About Shield

Shield is a commercial stage, pharmaceutical company with a focus on addressing iron deficiency with its lead product Feraccru ® /Accrufer ® (ferric maltol), a novel, stable, non-salt based oral therapy for adults with iron deficiency with or without anaemia.

Shield's lead product, Feraccru®/Accrufer®, has been approved for use in the United States, European Union, UK and Switzerland and has exclusive IP rights until the mid-2030s. The Group plans to launch Accrufer® in the US during 2021 through a highly experienced sales and marketing team. Feraccru® is already being commercialised in the UK and European Union by Norgine B.V., who also have the marketing rights in Australia and New Zealand. Shield also has an exclusive licence agreement with Beijing Aosaikang Pharmaceutical Co., Ltd., for the development and commercialisation of Feraccru®/Accrufer® in China, Hong Kong, Macau and Taiwan. 

For more information, please visit  www.shieldtherapeutics.com . Follow Shield on Twitter @ShieldTx

 

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