Tiziana Life Sciences PLC Proposed changes to CLNs and Warrant Terms (7751K)
12 July 2017 - 4:00PM
UK Regulatory
TIDMTILS
RNS Number : 7751K
Tiziana Life Sciences PLC
12 July 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Tiziana Life Sciences plc
("Tiziana" or "the Company")
Proposed restructuring of Convertible Loan Notes and Proposed
Variation of Warrant Terms
London,12 July 2017 - Tiziana Life Sciences plc ("Tiziana", AIM:
TILS), a clinical stage biotechnology company developing targeted
drugs for cancer and autoimmune diseases, today announces that it
has posted circulars to convertible loan note holders ("CLN
Holders") and warrant holders ("Warrant Holders").
It is proposed that CLN Holders be offered an additional bonus
coupon of 3 years of interest at the relevant applicable rate of
return for agreeing to the immediate conversion of the CLNs into
ordinary shares. If the CLN Holders agree to the proposal they will
be subject to a restriction not to dispose of the relevant shares
for a period of 12 months following conversion.
Furthermore, the Company has proposed to vary the terms of the
warrants associated with the CLNs by extending the exercise period
of these warrants to 31 December 2021. If the Warrant Holders
agreement to the proposal, the ordinary shares they receive upon
conversion of the warrants would also be subject to a restriction
not to dispose of the relevant shares for a period of 12 months
following such conversion.
GBP22,043,615 (at nominal value) of CLNs currently remain
outstanding that are subject to the conversion request. If all of
these CLNs were to be converted into ordinary share (including
accrued interest) approximately 33,150,603 new ordinary shares in
the Company would be created - representing approximately 26 % of
the then so enlarged issued share capital of the Company.
Contacts
Tiziana Life Sciences plc
Gabriele Cerrone, Chairman and founder +44 (0)20 7495 2379
Cairn Financial Advisers LLP (Nominated adviser) +44 (0)20 7213
Liam Murray / Jo Turner 0880
Beaufort Securities Limited (Broker)
Saif Janjua +44 (0)20 7382 8300
FTI Consulting
Simon Conway / Natalie Garland-Collins +44 (0)20 3727 1000
About Tiziana Life Sciences
Tiziana Life Sciences plc is a UK biotechnology company that
focuses on the discovery and development of novel molecules that
treat human disease in oncology and immunology. The Company is
focused on its lead compound milciclib. The Company is also in
clinical development of foralumab. Foralumab is the only fully
human engineered anti-human CD3 antibody in clinical development.
This phase II compound has potential application in a wide range of
autoimmune and inflammatory diseases, such as nonalcoholic
steatohepatitis (NASH), primary biliary cholangitis (PBS),
ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D),
inflammatory bowel disease (IBD), psoriasis and rheumatoid
arthritis, where modulation of a T-cell response is desirable.
For more information go to
http://www.tizianalifesciences.com
This information is provided by RNS
The company news service from the London Stock Exchange
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