Business
Result of Rule 15 Offer and Total Voting Rights
Result of Rule 15 Offer and Total Voting Rights.
About this update from Hvivo Plc
[{"type":"text","content":"\n \n \n RNS Number : 2410E\n Open Orphan PLC\n 26 February 2020\n \n \n \n 26 February 2020\n \n Open Orphan plc\n (\"Open Orphan\" or the \"Company\")\n Result of Rule 15 Offer and Total Voting Rights\n \n \n Open Orphan\n , the rapidly growing specialist CRO pharmaceutical services company which has a focus on orphan drugs\n , announces, further to its announcement of 7 January 2020, the results of the Rule 15 Offer previously issued to the holders of options in hVIVO.\n \n \n Under the Rule 15 offer (the \"Rule 15 Offer\"), 4 hVIVO option holders have chosen to accept Choice 1 under the Rule 15 Offer, exercise their hVIVO options and accept the all-equity offer made by Open Orphan for the entire issued and to be issued share capital of hVIVO made on 9 December 2019 (the \"Offer\"). In addition, 11 hVIVO option holders have accepted Choice 2 under the Rule 15 Offer, to cancel their options in hVIVO and replace them with new options over shares in Open Orphan on equivalent terms to the Offer. \n \n \n The in aggregate 4,132,208 new options over shares in Open Orphan, each exercisable at 2 pence, are being issued pursuant to the Offer and derive from legacy hVIVO options granted under the hVIVO Long Term Incentive Plan. These options became exercisable upon the Offer being declared unconditional in all respects on 17 January 2020.\n \n Pursuant to the Rule 15 Offer, the Company has made application for 390,061 new Ordinary Shares to be issued and allotted as a result of the Rule 15 Offer, to be admitted to trading on AIM and Euronext Growth. Admission is expected to occur at 8.00 a.m. on 3 March 2020. Following Admission, no further issue of shares is expected in connection with the Offer.\n Total Voting Rights \n \n In conformity with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following the admission of the Rule 15 Offer shares, its issued share capital consists of 533,437,342 ordinary shares of 0.1 pence each. This figure includes an additional 46 shares subscribed for by an investor through the fundraising announced by the Company on 31 January 2020. All of the Ordinary Shares have equal voting rights and there are no Ordinary Shares held in treasury. This figure of 533,437,342 Ordinary Shares represents the total voting rights in the Company and may be used by shar...