Business
Final Loan Note Conversion and Issue of Equity
Final Loan Note Conversion and Issue of Equity.
About this update from Valirx Plc
[{"type":"text","content":"\n \nRNS Number : 3706A ValiRx PLC 27 December 2017 \n\n \n \nValiRx Plc\n(\"ValiRx\" or \"the Company\" or \"the Group\")\n \nFinal Loan Note Conversion and Issue of Equity\n \nLondon, UK., 27 December 2017: ValiRx Plc (AIM: VAL), a life science company, which focuses on clinical stage cancer therapeutic development, taking proprietary & novel technology for precision medicines towards commercialisation and partnering, announces the conversion of the second tranche of the YA II CD, Ltd. (\"YA II\") Convertible Loan Facility (\"CLN\").\n \nYA II has elected to convert all remaining US$520,000.00 of its CLN (plus accrued interest of US$1,666.85) from Tranche 2 into 25,222,857 ordinary shares at a conversion price of 1.5429p per share. The conversion price has been calculated on the basis of the conversion formulae stated in the announcement dated 2 September 2016. \n \nNo further amounts on Tranche 2 of the CLN remains outstanding. As previously announced Tranches 1 and 3 have been fully repaid and so this is the final conversion under the CLN and ValiRx confirms that there are no further obligations existing between itself and Yorkville and the Company thanks Yorkville very much for its support.\n \nApplication for the 25,222,857 ordinary shares will be made to the London Stock Exchange and trading in these shares is expected to commence on or around 3 January 2018. Following the admission of certain warrant and placing shares previously announced in the past week, the Company's issued share capital will comprise of 399,062,717 on admission of the 25,222,857 shares to YA II.\n \nThis announcement is inside information for the purposes of Article 7 of Regulation 596/2014.\n \n*** ENDS ***\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\nNotes for Editors \...