Business
Conversion of CLNs
Roquefort Therapeutics plc has announced the conversion of £80,000 in convertible loan notes, resulting in the issuance of 6,282,264 new ordinary shares. The conversion, which includes accrued interest at 12.5% per annum, occurred at prices of 1.81p for £30,000 and 1.29p for £50,000 of the notes. Following this conversion, the company has £257,894 in convertible loan notes outstanding. The new shares are expected to be admitted to trading on the London Stock Exchange around December 16, 2025, bringing the total issued share capital to 163,726,294 ordinary shares. Disclaimer*
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[{"type":"text","content":"\n\n9 December 2025\nRoquefort Therapeutics plc\n(\"Roquefort Therapeutics\" or the \"Company\")\nConversion of CLNs\n \nRoquefort Therapeutics (LSE:ROQ), the Main Market listed biotech company, announces that the Company has received notices, in two tranches, to convert a total face value of £80,000 convertible loan notes (the \"CLNs\") resulting in the issue of 6,282,264 new ordinary shares in the Company (the \"CLN Shares\").\n \n\nIn accordance with the terms of the CLNs, which were issued and announced on 23 May 2024, all accrued interest on the CLNs at a rate of 12.5% per annum is included in the conversion into the Company's ordinary shares of £0.01 each (\"Ordinary Shares\"). The conversion price of the first tranche of the CLNs representing a face value of £30,000 is 1.81p and the conversion price of the second tranche of the CLNs representing a face value of £50,000 is 1.29p. The conversion price is calculated as being 90% of the price equal to the 10-day volume-weighted average price calculated backwards from the date, which is three business days prior to the notice of conversion given to the Company. Following conversion of these CLNs, the Company has CLNs with a face value of £257,894 outstanding.\n\n \nAdmission and Total Voting Rights\nApplication will be made for the CLN Shares to be admitted to trading on the London Stock Exchange's Main Market for listed securities, which is expected to occur on or around 16 December 2025 (\"Admission\"). The CLN Shares will rank pari passu in all respects with the Company's existing Ordinary Shares.\n \nFollowing Admission, the Company's issued share capital will comprise 163,726,294 Ordinary Shares in issue, with each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury. The figure of 163,726,294 Ordinary Shares 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 of a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.\n \nRegulatory Information\nThis Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal...