Business
Update on Placing
Update on Placing.
About this update from Hvivo Plc
[{"type":"text","content":"\n \nRNS Number : 6596A Open Orphan PLC 23 January 2020 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY SECURITIES IN THE COMPANY.\n \nUpdate on Placing\n \nOpen Orphan plc (ORPH), a rapidly growing specialist pharmaceutical services company which has a focus on orphan drugs, confirms that as previously announced it is currently undertaking meetings with investors in connection with its proposed placing of £5 million. While the Company hopes to complete the placing at, or close to, the implied offer price of 6.3 pence per Ordinary Share in line with the authorities granted by shareholders to raise up to £10 million at the general meeting on 6 January 2020, there can be no certainty as to the outcome of the placing until such time as the placing is concluded.\n \nDiscussions with potential investors remain ongoing and a detailed announcement will be made in due course.\n \nENDS\nEnquiries:\nOpen Orphan plc Tel: +353 1 644 0007\nCathal Friel, Executive Chairman\nTrevor Phillips, Chief Executive Officer Tel: +44 (0)20 7347 5350 \nArden Partners (Nominated Adviser and Joint Broker) Tel: +44 (0)20 7614 5900\nJohn Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer\nDavy (Euronext Growth Adviser and Joint Broker) Tel: +353 (0)1 679 6363\nAnthony Farrell (Corporate Finance)\nCamarco (Financial PR) Tel: +44 (0)20 3757 4980\nTom Huddart / Dan Sherwen\n \nNotes to Editors on Open Orphan:\nOpen Orphan is a rapidly growing European full pharmaceutical services company with a focus on orphan drug and specialist services, comprising two commercial specialist CRO services businesses (Venn and hVIVO) and a developing early stage orphan drug genomics data platform business capturing valuable genetic data from patient populations with specific diseases with designated orphan drug status and incorporating AI tools. In June 2019, Open Orphan acquired AIM-listed Venn Life Sciences Holdings plc in a reverse take-over and in January 2020 it completed the merger with hVIV...