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About this update from Valirx Plc
[{"type":"text","content":"\n \n \n RNS Number : 9301T\n ValiRx PLC\n 23 July 2020\n \n \n \n \n \n \n \n \n \n \n VALIRX PLC\n \n \n (\"ValiRx\", the \"Company\" or the \"Group\")\n \n \n Oversubscribed Placing and Fundraise\n \n \n \n \n \n \n London, UK\n \n ., 23 July 2020: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company announces a fundraise (\"Fundraise\") of £1,350,000 by way of an oversubscribed Placing, Subscription, Conversion and a Broker Option issuing, in aggregate, 18,000,000 new ordinary shares.\n \n \n \n \n \n Placing\n \n \n The Company has placed 13,333,333 new ordinary shares (\"Placing Shares\") at 7.5p per share (\"Placing Price\") raising gross proceeds of £1,000,000. The Placing has been undertaken by Peterhouse Capital Limited (\"Peterhouse\"), the Company's broker (the \"Broker\").\n \n \n \n \n \n Subscription\n \n \n Certain directors have subscribed for new ordinary shares in the Company on the same terms as the Placing (\"Subscription\"). Details of the directors' subscriptions are set out below.\n \n \n \n \n \n \n \n \n Director\n \n \n \n \n Participation\n \n \n \n \n Number of shares subscribed for\n \n \n \n \n Interest in the Company following the subscription\n \n \n \n \n % of Enlarged Share Capital\n \n \n \n \n \n \n Suzanne Dilly\n \n \n \n \n £5,000\n \n \n \n \n 66,667\n \n \n \n \n 233,335\n \n \n \n \n 0.4%\n \n \n \n \n \n \n Gerry Desler\n \n \n \n \n £5,000\n \n \n \n \n 66,667\n \n \n \n \n 1,941,875\n \n \n \n \n 3.6%\n \n \n \n \n \n \n Kevin Cox\n \n \n \n \n £10,000\n \n \n \n \n 133,333\n \n \n \n \n 133,333\n \n \n \n \n 0.2%\n \n \n \n \n \n \n Total\n \n \n \n \n £20,000\n \n \n \n \n 266,667\n \n \n \n \n 2,308,543\n \n \n \n \n 4.2%\n \n \n \n \n \n \n \n \n The participation of the directors in the Subscription is a related party transaction (the \"Transaction\") , pursuant to the AIM Rules, as such the directors independent of the Subscription confirm that having consulted with the Company's nominated adviser that the terms of the Transaction are fair and reasonable insofar as shareholders are concerned.\n \n \n \n \n \n Conversion\n \n \n The Company has agreed to issue 390,666 new ordinary shares in the Company at a price of 7.5p per share in lieu of current liabilities of the Company amounting to £29,300.\n \n \n &nb...