Business
Yorkville CLN Conversion
Yorkville CLN Conversion.
About this update from Valirx Plc
[{"type":"text","content":"\n \nRNS Number : 6282W ValiRx PLC 15 November 2017 \n\n \n \nValiRx Plc\n(\"ValiRx\" or \"the Company\" or \"the Group\")\n \nLoan Note Conversion and Issue of Equity\n \nLondon, UK., 15 November 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 partial conversion of the first and second tranches, and the repayment of the third tranche, of the YA II CD, Ltd. (\"YA II\") Convertible Loan Facility (\"CLN\"), the terms of which are described in the announcement dated 2 September 2016.\nYA II has elected to convert US$40,105.06 of its CLN (plus accrued interest of US$919.67) from Tranche 1 and US$10,000.00 of its CLN (plus accrued interest of US$101,892.42) from Tranche 2 into 12,446,476 ordinary shares at a conversion price of 0.9271p per share.\nTranche one has therefore now been converted in full.\nUS$1,216,203 (plus accrued interest) of tranche 2 of the CLN remains outstanding. \nThe Company has elected to repay US$400,000 (being the total amount drawn down to date) from tranche 3 in cash and not to make any further drawdowns.\nApplication for the 12,446,476 ordinary shares will be made to the London Stock Exchange and trading in these shares is expected to commence on or around 20 November 2017.\nFollowing the issue of equity above the Company's issued share capital will comprise of 216,405,413.\nThe Table below sets out a summary (excluding accrued interest) of the facility following the conversions and repayment 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$2,900,000\n\n\n\n\nAmount drawn down\n\n\n(US$1,250,000)\n\n\n(US$1,250,000)\n\n\nUS$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\nnil*\n\n\nnil\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/ for cash\n\n\nUS$1,250,00\n\n\nUS$33,797\n\n\nUS$400,000\n\n\nUS$1,683,797\n\n\n\n\nBalance of tranche outstanding\n\n\nnil\n\n\nUS$1,216,203\n\n\nnil*\n\n\nUS$1,216,202\n\n\n\n\n*No further balance available as the Company ha...