Business
Result of AGM and Completion of Placing
Result of AGM and Completion of Placing.
About this update from Hemogenyx Pharmaceuticals Plc
[{"type":"text","content":"\n \n \n RNS Number : 0151P\n Hemogenyx Pharmaceuticals PLC\n 04 June 2020\n \n \n \n \n Hemogenyx Pharmaceuticals plc\n \n \n (the \"Company\")\n \n \n \n \n \n Result of Annual General Meeting and Completion of Placing\n \n \n \n \n \n Hemogenyx Pharmaceuticals plc is pleased to announce that, at the Annual General Meeting (\"AGM\") held earlier today, all resolutions were duly passed. The numbers of votes for each resolution are presented at the end of this announcement.\n \n \n \n \n \n Completion of Placing\n \n \n Following the shareholders' vote at the AGM to authorise the Directors to allot shares for cash, the Conditional Placing announced on 12 May 2020 to raise £2,500,000 (before expenses) at 7p per share has now become unconditional. Accordingly, 35,714,286 new ordinary shares of 1p each (the \"Placing Shares\") will now be allotted. An application has been made for the Placing Shares to be admitted to the Official List of the UK Listing Authority by way of a Standard Listing (\"Admission\") and it is expected that Admission will become effective and that dealing in the Placing Shares will commence on or around 5 June 2020. The Placing Shares will rank pari passu with the existing ordinary shares of the Company.\n \n \n \n \n \n Operational Update\n \n \n As it has not been possible to open up the AGM to shareholder discussion in the normal way a brief update on operations and developments is provided below.\n \n \n As announced on 2 June 2020, the Company has agreed a three-month extension of the collaboration with a leading global pharmaceutical company (\n \"\n GlobalCo\n \"\n ) \n for the successful preclinical development of the Company's lead candidate bi-specific CDX antibody. This collaboration complements the Company's own development work that is currently being undertaken. \n The Directors are pleased to have agreed this extension which shows GlobalCo's continuing commitment to the project despite delays created by the COVID-19 pandemic crisis which has seen the industry as a whole focussing on treatments for COVID-19 while being hampered by laboratory shutdowns over recent months.\n \n \n The fundraising will also enable the Company to progress its own work on COVID-19 and other viruses considerably more intensively. The Company had already been developing treatments to be de...