hVIVO plc Proposed cancellation of trading on AIM (9043Y)
07 January 2020 - 3:48AM
UK Regulatory
TIDMHVO
RNS Number : 9043Y
hVIVO plc
06 January 2020
hVIVO plc
("hVIVO or the "Company")
Notification pursuant to AIM Rule 41
Proposed cancellation of trading on AIM
The Board of hVIVO (the "Board") notes the announcement on 31
December 2019 by Open Orphan Plc ("Open Orphan") that its
recommended all-equity offer to acquire the entire issued and to be
issued ordinary share capital of hVIVO (the "Offer") has become
unconditional as to acceptances.
Open Orphan has acquired, or agreed to acquire hVIVO Shares
representing in excess of 75 per cent. of the voting rights of
hVIVO. Accordingly, at the request of Open Orphan, and as set out
in the Offer Document dated 9 December 2019, the Board has applied
for the cancellation of admission to trading on AIM of hVIVO Shares
(the "Delisting").
Further to the Company's previous announcements in relation to
the Delisting, the Company confirms that it has agreed with AIM
that the Delisting is expected to occur on 20 January 2020, being
the date of the proposed Admission of the Enlarged Open Orphan
Share Capital. Admission of the hVIVO Shares to trading on AIM will
be cancelled without the requirement for a resolution of
shareholders approving such cancellation pursuant to Rule 41 of the
AIM Rules.
It is anticipated that the cancellation of listing and trading
will take effect on or shortly after 7.00 a.m. (London time) on 20
January 2020.
The Delisting will significantly reduce the liquidity and
marketability of any hVIVO Shares not acquired by Open Orphan and
the Board therefore recommends those hVIVO Shareholders who have
not already accepted the Offer to accept the Offer as soon as
possible. The procedure for acceptance of the Offer is set out in
the Offer Document.
The Offer remains subject to fulfilment of all other conditions
set out in Part III of the Offer Document, and has not yet been
declared unconditional in all respects.
Capitalised terms used but not otherwise defined in this
announcement have the meanings given to them in the Offer
Document.
For further information please contact:
hVIVO plc
+44 (0)20 7756 1300
Dr. Trevor Phillips, Executive Chairman
Anesh Patel, Interim Finance Director and Company Secretary
Fleur Wood, EVP, Investor Relations & Communications
Numis Securities Limited (Nominated Adviser) +44 (0)20 7260
1000
Freddie Barnfield / Huw Jeremy
MCF (Financial Adviser to hVIVO) +44 (0)20 7968 2760
Sam Evans / Tor-Oskar Karlberg
FTI Consulting (Financial PR) +44 (0)20 3727 1000
Simon Conway / Victoria Foster Mitchell
Notes to Editors:
hVIVO plc is pioneering a human-based analytical platform to
accelerate drug discovery and development in respiratory and
infectious diseases. Leveraging human disease models in flu, RSV
and asthma exacerbation, the hVIVO platform captures disease in
motion, illuminating the entire disease life cycle from healthy to
sick and back to health. Based in the UK, market leader hVIVO has
conducted more than 50 clinical studies, inoculated over 2500
volunteers and has three first-in-class therapies currently in
development.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCEAKFKELSEEFA
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January 06, 2020 11:48 ET (16:48 GMT)
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