Exercise of Warrants and Issue of Equity
VALIRX PLC
("ValiRx" or the "Company")
EXERCISE OF WARRANTS AND ISSUE OF EQUITY
London, UK., 15 December 2017: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, has received notifications of the exercise of warrants over 3,000,000 ordinary shares at an exercise price of 1p and over 1,000,000 ordinary shares at an exercise price of 5p in the Company, providing the Company with gross proceeds of £80,000.
Application will be made to the London Stock Exchange to admit the 4,000,000 new ordinary shares to trading on AIM. Admission of the new ordinary shares is expected to occur on or around 20 December 2017. The new ordinary shares will rank pari passu with the existing ordinary shares.
For the purpose of the Disclosure and Transparency Rules, following the issue of shares detailed above the enlarged issued share capital of the Company will comprise 267,405,413 ordinary shares of 0.1 pence each. 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.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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For more information, please contact:
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ValiRx plc |
Tel: +44 (0) 20 3008 4416 |
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Dr Satu Vainikka, Chief Executive |
Tel: +44 (0) 20 3008 4416 |
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Tarquin Edwards, Head of Communications. |
Tel: +44 (0) 7879 458 364 |
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Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray/Jo Turner/Richard Nash |
Tel: +44 (0) 20 7213 0880 |
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Beaufort Securities Limited (Broker) Jon Belliss |
Tel: +44 (0) 207 382 8300 |
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 World 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
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