Business
Conditional Placing
Conditional Placing.
About this update from Valirx Plc
[{"type":"text","content":"\n \n \n RNS Number : 3243I\n ValiRx PLC\n 01 April 2020\n \n \n \n \n 1 April 2020\n \n \n \n \n \n ValiRx Plc\n \n \n (\"ValiRx\" or the \"Company\")\n \n \n Conditional Placing and Proposed Appointment of Director and Change of Broker\n \n \n \n \n \n London, UK, 1 April 2020: ValiRx Plc (AIM: VAL), a clinical stage biotechnology company, announces:\n \n \n \n \n \n · \n that it has conditionally raised £200,000 of gross proceeds through the issue of 5,714,288* new ordinary shares (post reorganisation) at a post reorganisation price of 3.5 pence* per share (\"Placing Shares\") with new investors (\"Conditional Placing\"). The Conditional Placing is conditional, inter alia, of the passing of resolution 1 (share capital reorganisation) as set out in the circular posted to shareholders dated 6 March 2020 convening a meeting on 25 March 2020 (\"Capital Reorganisation General Meeting\"). The Capital Reorganisation General Meeting was adjourned on 25 March 2020;\n \n \n · \n the appointment of Peterhouse Capital Limited (\"Peterhouse\") as sole broker to the Company; and\n \n \n · \n the proposed appointment of Martin Lampshire as a Non-executive Director.\n \n \n *\n representing 714,285,714 ordinary shares at a price of 0.028 pence per share on a pre capital reorganisation basis.\n \n \n \n \n \n The Conditional Placing has been conducted on behalf of the Company by Peterhouse.\n \n \n \n \n \n The Placing Shares would be issued under existing shareholder authorities and not dependent upon resolution 2 or resolution 3 of the Capital Reorganisation General Meeting being passed. Following the issuing of the Placing Shares the Company will have no further existing authority to issue new shares.\n \n \n \n \n \n Assuming the passing of resolution 1 at the Capital Reorganisation General Meeting, the Placing Shares will represent 5,714,288 post reorganisation ordinary shares (representing circa 31.8% of the Company's so enlarged issued share capital). \n \n \n \n \n \n The Board intend to shortly reconvene the Capital Reorganisation General Meeting - a further announcement will be made shortly.\n \n \n \n \n \n Conditional Placing\n \n \n \n \n \n Further details of the Conditional Placing are set our below:-\n \n \n \n \n \n · \n Settlement and a...