Business
Placing and grant of warrants
Placing and grant of warrants.
About this update from Valirx Plc
[{"type":"text","content":"\n \nRNS Number : 2290N ValiRx PLC 04 May 2018 \n\n \n \n \n \nValiRx Plc\n(\"ValiRx\" or the \"Company\")\n \nPlacing and grant of warrants\n \nLondon, UK., 04 May 2018: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, is pleased to announce it has conditionally raised £0.95 million of gross proceeds through the issue of 47,500,000 new ordinary shares at a price of 2.0 pence per share (\"Placing Shares\"). The funds will be used for progressing the clinical trial of VAL201 and for advancing the pre-clinical programmes, VAL101 and VAL301, in their preparatory studies prior to their entering the clinic, as has been previously announced. The funds were raised through the Company's broker, Novum Securities Limited (\"Novum\").\n \nApplication will be made to the London Stock Exchange for the 47,500,000 new ordinary shares to be admitted to trading on AIM. Admission of these shares is expected to occur on or around 14 May 2018.\n \nThe Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company.\n \nThe Company has agreed to grant Novum a warrant to subscribe for 1,800,000 shares at an exercise price of 2.5 pence per share. The warrants may be exercised (subject to the requisite shareholder authorities being in place) at any time in the period expiring on the third anniversary of the date of this announcement.\n \nFollowing Admission of the Placing Shares, the Company's enlarged issued share capital will comprise 454,962,717 ordinary shares of 0.1p each with voting rights. The Company does not hold any shares in treasury. This figure of 454,962,717 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\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\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...