Business
Convertible Loan Facility
Convertible Loan Facility.
About this update from Valirx Plc
[{"type":"text","content":"\n \nRNS Number : 7140N ValiRx PLC 11 August 2017 \n\n \n \n \n \nValiRx Plc\n(\"ValiRx\" or \"the Company\" or \"the Group\")\n \nConvertible Loan Facility\n \nLondon, UK., 11 August 2017: ValiRx Plc (AIM: VAL), a clinical stage biotechnology company, announces that it has drawn down US$400,000 of the third tranche of its Convertible Loan Facility (announced on 02 September 2016) with YA Global Master SPV Ltd (\"Yorkville\").\n \nThe Table below sets out a summary of the facility following the conversion detailed above:-\n \n\n\n\n\n\n\n\nTranche 1\n\n\nTranche 2\n\n\nTranche 3\n\n\nTotal\n\n\n\n\nPar value of tranche\n\n\nUS$1,250,000\n\n\nUS$1,250,000\n\n\nUS$1,250,000\n\n\nUS$3,750,000\n\n\n\n\nAmount drawn down\n\n\n(US$1,250,000)\n\n\n(US$1,250,000)\n\n\n(US$400,000)\n\n\n(US$2,900,000)\n\n\n\n\nBalance of tranche available for drawdown\n\n\nnil\n\n\nnil\n\n\nUS$850,000\n\n\nUS$850,000\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal conversion / repayment of tranche into ordinary shares\n\n\nUS$1,209,905\n\n\nnil\n\n\nnil\n\n\nUS$1,209,895\n\n\n\n\nBalance of tranche outstanding\n\n\nUS$40,095\n\n\nUS$1,250,000\n\n\nUS$400,000\n\n\nUS$1,690,105\n\n\n\n\n \n \nEach tranche has a maturity date of 12 months from the date of drawdown. The Convertible Loan Notes bear an interest rate of 9 per cent. per annum.\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.\n \n*** ENDS ***\n \nFor more information, please contact:\n \n\n\n\n\nValiRx plc\n\n\nTel: +44 (0) 20 3008 4416\nwww.valirx.com\n\n\n\n\nDr Satu Vainikka, Chief Executive\n\n\nTel: +44 (0) 20 3008 4416\n\n\n\n\nTarquin Edwards, Head of Communications.\n\n\nTel: +44 (0) 7879 458 364\[email protected]\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial Advisers LLP (Nominated Adviser) \nLiam Murray/Jo Turner/Richard Nash\n\n\nTel: +44 (0) 20 7213 0880\n\n\n\n\n\n\n\n\n\n\n\n\nBeaufort Securities Limited (Broker) \nJon Belliss\n\n\nTel: +44 (0) 207 382 8300\n\n\n\n\n \nNotes for Editors \nAbout ValiRx \nValiRx is a biotechnology oncology focused company specialising in developing novel treatments for cancer and associated biomarkers. It aims to make a significant contribution in \"precision\" medicine and science, namely to engin...