TIDMAGY
RNS Number : 1647V
Allergy Therapeutics PLC
19 July 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, OR INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE RUSSIAN
FEDERATION OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE
SAME WOULD BE UNLAWFUL.
FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND
SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION
TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY ORDINARY SHARES OF
THE COMPANY IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR
SOLICITATION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT SHOULD BE READ IN
ITS ENTIRETY. IN PARTICULAR, YOU SHOULD READ AND UNDERSTAND THE
INFORMATION PROVIDED IN THE "IMPORTANT NOTICES" SECTION.
19 July 2018
Allergy Therapeutics plc
("Allergy Therapeutics", the "Company" or the "Group")
Results of Placing and Subscription
Allergy Therapeutics plc (AIM:AGY), the fully integrated
specialty pharmaceutical company specialising in allergy vaccines,
is pleased to announce the successful completion of the Placing and
Subscription announced earlier today which was over-subscribed.
A total of 40,000,000 new ordinary shares (the "New Shares")
have been placed or subscribed for at a price of 26.5 pence per
share (the "Issue Price") to raise GBP10.6 million (before
expenses) for the Company. The New Shares being issued represent
6.7 per cent. of the issued ordinary share capital of the Company
prior to the Placing and Subscription. The Issue Price represents a
premium of 0.4 per cent. to the average mid-market closing price
over the previous 60 trading days up to and including 18 July 2018,
the last trading day before the announcement of the Placing and
Subscription.
Manuel Llobet, Chief Executive Officer, stated:
"Allergy Therapeutics is now well positioned for a
transformational period of growth both with our marketed products
and our R&D pipeline. With this successful Placing and
Subscription, we will expand our planned Phase III PQ Grass trial,
scheduled to start in H2 2019, including a project to analyse
pollen trends in the US to maximise the exposure of patients to
grass pollen. We will also support the Acarovac Phase II trial and,
looking further out, further progress our diversified pipeline of
patient friendly, convenient to use products including Polyvac
Peanut."
Panmure Gordon is acting as Financial Adviser, Nominated Adviser
and Corporate Broker in respect of the Placing. Unless the context
requires otherwise, capitalised terms in this announcement have the
same meanings as defined in the Company's announcement released via
RNS at 7.00 a.m. today.
Related Party Transaction
Where a company enters into a related party transaction, under
the AIM Rules for Companies, the independent directors of the
company are required, after consulting with the company's nominated
adviser, to state whether, in their opinion, the transaction is
fair and reasonable in so far as its shareholders are
concerned.
Southern Fox Investments Limited has subscribed GBP3.5 million
for 13,321,559 New Shares. As at the date of this announcement,
Southern Fox Investments Limited has an interest in 130,999,980
Ordinary Shares, representing 22.0 per cent. of the issued share
capital of the Company prior to the Placing and Subscription. The
issue of New Shares to Southern Fox Investments Limited therefore
constitutes a related party transaction under Rule 13 of the AIM
Rules for Companies.
The Directors, having consulted with Panmure Gordon, the
Company's nominated adviser, consider that the terms of Southern
Fox Investments Limited's participation in the Placing and
Subscription are fair and reasonable insofar as the shareholders
are concerned.
Application for admission to trading on AIM and total voting
rights
Application has been made to the London Stock Exchange for
admission to trading of the New Shares on AIM ("Admission"). It is
expected that Admission will take place at 8:00 a.m. on 25 July
2018 (at which time the Placing and Subscription will become
unconditional) and that dealings in the New Shares on AIM will
commence at the same time.
The New Shares will, when issued, be credited as fully paid and
will rank pari passu in all respects with the existing Ordinary
Shares in the capital of the Company, including the right to
receive all dividends or other distributions made, paid or declared
in respect of such shares after the date of issue of the New
Shares.
Allergy Therapeutics' enlarged issued ordinary share capital
immediately following Admission will be 636,168,616 Ordinary Shares
with voting rights attached. The Company has no shares in Treasury;
therefore the total number of voting rights in Allergy Therapeutics
following Admission will be 636,168,616. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine whether they are required to notify an interest in,
or a change to their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
This announcement contains inside information for the purposes
of Article 17 of the Market Abuse Regulation (EU) No.596/2014.
For further information, please contact:
Allergy Therapeutics +44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer
Nick Wykeman, Chief Financial Officer
Panmure Gordon +44 (0) 207 886 2500
Freddy Crossley / Emma Earl / Ryan McCarthy, Corporate
Finance
Erik Anderson, Corporate Broking
Consilium Strategic Communications +44 (0) 20 3709 5700
Mary-Jane Elliott / David Daley / Nicholas Brown / Olivia
Manser
allergytherapeutics@consilium-comms.com
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an international commercial
biotechnology company focussed on the treatment and diagnosis of
allergic disorders, including immunotherapy vaccines that have the
potential to cure disease. The Group sells proprietary and third
party products from its subsidiaries in eight major European
countries and via distribution agreements in an additional fourteen
countries. Its broad pipeline of products in clinical development
include vaccines for grass, tree and house dust mite, and peanut
allergy vaccine in pre-clinical development. Adjuvant systems to
boost performance of vaccines outside allergy are also in
development.
Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics
is headquartered in Worthing, UK with more than 11,000m(2) of
state-of-the-art MHRA-approved manufacturing facilities and
laboratories. The Group, which has achieved double digit compound
annual growth since formation, employs c.500 employees and is
listed on the London Stock Exchange (AIM:AGY). For more
information, please see www.allergytherapeutics.com.
IMPORTANT NOTICES
This Announcement has been issued by, and is the sole
responsibility, of the Company. No representation or warranty
express or implied, is or will be made as to, or in relation to,
and no responsibility or liability is or will be accepted by
Panmure Gordon or by any of its affiliates, directors, officers,
employees, advisers or agents as to or in relation to, the accuracy
or completeness of this announcement or any other written or oral
information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed. Panmure Gordon has not authorised the
contents of, or any part of, this announcement.
Panmure Gordon, which is authorised by the FCA, is acting
exclusively for the Company and no-one else in connection with the
Placing and Subscription and will not regard any other person as a
client in relation to the Placing and Subscription and will not be
responsible to anyone other than the Company for providing the
protections afforded to its clients or for providing advice in
relation to the Placing and Subscription or any other matter
referred to herein. Its responsibilities as nominated adviser and
broker to the Company are owed to the London Stock Exchange and the
Company and not to any other person including, without limitation,
in respect of any decision to acquire New Shares in reliance on any
part of this announcement.
There are matters set out within this announcement that are
forward-looking statements. Such statements are only predictions,
and actual events or results may differ materially. For a
discussion of important factors which could cause actual results to
differ from forward-looking statements, refer to the Company's
Annual Report and Accounts for the period ended 30 June 2017.
Neither the Company nor Panmure Gordon undertakes any obligation to
update publicly, or revise, forward-looking statements, whether as
a result of new information, future events or otherwise, except to
the extent legally required. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
announcement. No statement in this announcement is or is intended
to be a pro t forecast or pro t estimate or to imply that the
earnings of the Company for the current or future nancial periods
will necessarily match or exceed the historical or published
earnings of the Company. The price of shares and the income from
them may go down as well as up and investors may not get back the
full amount invested on disposal of the shares.
, the news service of the London Stock Exchange. RNS is approved by
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the use and distribution of this information may apply. For further
information, please contact rns@lseg.com or visit www.rns.com.
ROIGCGDRUBBBGIC
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