Business
Proposed placing & subscription to raise £10.6m
Proposed placing & subscription to raise £10.6m.
About this update from Allergy Therapeutics Plc
[{"type":"text","content":"\n \nRNS Number : 1316V Allergy Therapeutics PLC 19 July 2018 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE RUSSIAN FEDERATION OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. \nFURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF THE COMPANY IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. IN PARTICULAR, YOU SHOULD READ AND UNDERSTAND THE INFORMATION PROVIDED IN THE \"IMPORTANT NOTICE\" SECTION AND IN THE APPENDICES.\n \n19 July 2018\n \n \nAllergy Therapeutics plc\n(\"Allergy Therapeutics\", the \"Company\" or the \"Group\")\n \nProposed placing and subscription to raise up to £10.6 million\n \nAllergy Therapeutics plc (AIM: AGY), the fully integrated specialty pharmaceutical company specialising in allergy vaccines, announces a placing and subscription of up to 40,000,000 new ordinary shares of 0.1 pence each in the capital of the Company (\"New Shares\"), representing up to approximately 6.7% of the Company's existing ordinary share capital, to raise up to £10.6 million. \n \nHighlights\n \n· Placing and subscription of up to 40,000,000 New Shares in the Company (\"Placing and Subscription\"), representing up to approximately 6.7% of the Company's existing ordinary share capital, at a price of 26.5 pence per New Share (\"Issue Price\") to raise up to approximately £10.6 million before expenses.\n \n· The Company intends to use the Placing and Subscription proceeds to expand the planned Phase III PQ Grass Trial, part fund the Acarovac Phase II Trial and continue to progress its diversified pipeline.\n \n· Revenue for the financial year ended 30 June 2018 is expected to be £68.3 million (2017: £64.1 million). This represents a 6.6% annual growth on a reported basis and 3.5% on a constant currency basis de...