Immupharma PLC Issue of Equity (0304Q)
24 February 2016 - 11:35PM
UK Regulatory
TIDMIMM
RNS Number : 0304Q
Immupharma PLC
24 February 2016
24 FEBRUARY 2016
ImmuPharma PLC
Issue of Equity
Successful placing provides funding for completion of Phase III
Lupuzor(TM) Trial
ImmuPharma PLC (LSE:IMM) ("ImmuPharma" or the "Company"), the
specialist drug discovery and development company, is pleased to
announce the issue and allotment of 30,302,217 new ordinary shares
of 10 pence each ("New Ordinary Shares"), raising GBP7.7 million in
connection with the Placing and Subscription, as announced on 5
February 2016 (the "Placing and Subscription Announcement").
Furthermore, as outlined in the Placing and Subscription
Announcement, the Company has applied to HM Revenue and Customs to
receive VCT Advance Assurance and / or EIS Advance Assurance but,
as of the date of this announcement, the Advance Assurances have
not yet been received. The issue of any EIS Shares and the VCT
Shares within the Placing, amounting to 2,856,539 Ordinary Shares
which would raise a further GBP0.7 million for the Company (raising
in aggregate GBP8.4 million, as announced in the Placing and
Subscription Announcement), is conditional upon the Advance
Assurances being obtained by not later than 23 March 2016. The
Company intends to issue and allot the EIS Shares and VCT Shares
provided the Advance Assurances are received by that date. A
further update will be provided in due course.
Application will be made to the London Stock Exchange plc for
the admission of the 30,302,217 New Ordinary Shares to trading on
AIM. Admission is expected to take place at 8 a.m. on 25 February
2016 (or such later date as Panmure Gordon and the Company may
agree, being not later than 8 a.m. on 24 March 2016) at which time
the Placing and Subscription will become unconditional (save with
regard to the EIS Shares and the VCT Shares). Dealings in the New
Ordinary Shares on AIM will commence at the same time. The New
Ordinary Shares will be issued credited as fully paid and will be
identical to, and rank pari passu in all respects with, the
Existing Ordinary Shares, including the right to all dividends and
other distributions declared, made or paid in respect of the
Existing Ordinary Shares following the date of Admission.
Following the issue of the New Ordinary Shares referred to
above, ImmuPharma will have 118,924,680 Ordinary Shares in issue.
No Ordinary Shares are held in treasury. Shareholders may use the
above figure as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under section 5 of the
FCA's Disclosure and Transparency Rules.
For further information please see the Company's website,
www.immupharma.org, or contact:
ImmuPharma plc + 44 (0) 20 7152
Tim McCarthy, Chairman 4080
Lisa Baderoon, Head of Investor + 44 (0) 7721 413496
Relations lisa.baderoon@immupharma.com
Panmure Gordon (Financial
Adviser, Nominated Adviser
& Broker)
Fred Walsh, Duncan Monteith,
Corporate Finance
Charles Leigh-Pemberton,
Corporate Broking +44 (0) 20 7886 2500
All defined terms used in this announcement are defined, unless
otherwise defined here, in the appendix to the Proposed Placing and
Subscription and Notice of General Meeting announcement made on 5
February 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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