Evgen Pharma PLC Placing (4081E)
18 October 2018 - 5:01PM
UK Regulatory
TIDMEVG
RNS Number : 4081E
Evgen Pharma PLC
18 October 2018
For immediate release 18 October 2018
Evgen Pharma plc
("Evgen" or "the Company")
Placing
Evgen Pharma (AIM: EVG), a clinical stage drug development
company focused on the treatment of cancer and neurological
conditions, is pleased to announce it has raised GBP0.75 million
(before expenses) via a placing of 5,555,558 new ordinary shares of
0.25p each ("Placing Shares") in the Company at a price of 13.5p
per ordinary share (the "Placing").
The net proceeds of the Placing will be used by the Company to
provide working capital for the months following read-outs from the
Company's two on-going Phase II trials in subarachnoid haemorrhage
and metastatic breast cancer.
An application has been made for the Placing Shares to be
admitted to trading on AIM which is expected to occur at 8.00 a.m.
on 22 October 2018 ("Admission").
Commenting on the Placing, Steve Franklin, CEO of Evgen Pharma,
said:
"We are very pleased to have raised these additional funds from
new and existing shareholders. The funds provide Evgen with
additional working capital for use following announcement of the
final read-outs of our two Phase II clinical trials, which
represent significant value inflection points for the Company."
Total Voting Rights
Following Admission the Company's issued share capital will
comprise 98,912,416 ordinary shares with voting rights. The figure
of 98,912,416 ordinary shares may therefore 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.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Market soundings, as
defined in MAR, were taken in respect of the proposed fundraise
with the result that certain persons became aware of inside
information, as permitted by MAR. That inside information is set
out in this announcement and has been disclosed as soon as possible
in accordance with paragraph 7 of article 17 of MAR. Therefore,
those persons that received inside information in a market sounding
are no longer in possession of inside information relating to the
Company and its securities.
Enquiries:
Evgen Pharma plc c/o +44 (0) 20 7466 5000
Dr Stephen Franklin, CEO
Richard Moulson, CFO
www.evgen.com
Buchanan
Mark Court, Sophie Wills, Tilly Abraham +44 (0) 20 7466 5000
Northland Capital Partners Limited
Matthew Johnson, Gerry Beaney (Corporate
Finance)
Rob Rees (Corporate Broking) +44 (0) 20 3861 6625
WG Partners LLP +44 (0) 20 3705 9330
Nigel Barnes, Claes Spång
Notes for editors:
About Evgen Pharma plc
Evgen is a clinical stage drug development company whose lead
programmes are in breast cancer and subarachnoid haemorrhage, a
type of stroke. The Company's core technology is Sulforadex(R), a
method for synthesising and stabilising the naturally occurring
compound sulforaphane and novel proprietary analogues based on
sulforaphane. The lead product, SFX-01, is a patented composition
of synthetic sulforaphane and alpha-cyclodextrin.
Evgen commenced operations in January 2008 and has its
headquarters at The Colony, Wilmslow, Cheshire, and its registered
office at the Liverpool Science Park, Liverpool. It joined the AIM
market of the London Stock Exchange in October 2015 and trades
under the ticker symbol EVG.
For further information, please visit: www.evgen.com
For commissioned research on the Company, please visit:
http://evgen.com/investors/analyst-coverage/
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
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