ValiRx PLC Yorkville CLN Conversion (0006T)
30 December 2016 - 6:00PM
UK Regulatory
TIDMVAL
RNS Number : 0006T
ValiRx PLC
30 December 2016
ValiRx Plc
("ValiRx" or "the Company" or "the Group")
Yorkville CLN Conversion
London, UK., 29 December 2016: ValiRx Plc (AIM: VAL), a life
science company, which focuses on clinical stage cancer therapeutic
development, taking proprietary and novel technology for precision
medicines towards commercialisation and partnering, announces that
YA Global Master SPV Ltd ("Yorkville") has elected to convert a
further portion of tranche 1 of the Convertible Loan Facility
("CLN"). Further details of the conversion are set out below. The
terms of the CLN were outlined in the announcement dated 2
September 2016.
Yorkville has elected to convert US$150,000 of tranche 1 CLNs
(plus accrued interest of US$15,840) into 2,393,788 ordinary shares
at a conversion price of 5.625p per share.
Following the conversion described above US$598,433 of tranche 1
CLNs and US$1,250,000 of tranche 2 CLNs remain outstanding. The
drawdown of the tranche 2 notes was announced on 2 December
2016.
Application for the 2,393,788 ordinary shares has been made to
the London Stock Exchange and trading in these shares is expected
to commence on or around 6 January 2017.
Following the issue of equity above the Company's issued share
capital will comprise of 85,647,099 ordinary shares.
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
*** ENDS ***
For more information, please contact:
ValiRx plc Tel: +44 (0) 20 3008
4416
www.valirx.com
Dr Satu Vainikka, Chief Executive Tel: +44 (0) 20 3008
4416
Tarquin Edwards, Head of Communications. Tel: +44 (0) 7879
458 364
tarquin.edwards@valirx.com
Mark Treharne, Corporate Development Tel: +44 (0) 7736
Manager 564 686
mark.treharne@valirx.com
Cairn Financial Advisers LLP Tel: +44 (0) 20 7213
(Nominated Adviser) 0883
Liam Murray / Jo Turner
Beaufort Securities Limited Tel: +44 (0) 207
(Joint Broker) 382 8300
Jon Belliss
Northland Capital Partners Tel: +44 (0) 203
Limited (Joint Broker) 861 6625
John Howes / Abigail Wayne
(Broking)
Notes for Editors
ValiRx Plc
ValiRx is a biotechnology oncology focussed company specialising
in developing novel treatments for cancer and associated
biomarkers. It aims to make a significant contribution in
"precision" medicine and science, namely to engineer a breakthrough
into human health and well-being, through the early detection of
cancer and its therapeutic intervention.
The Company's business model focuses on out-licensing
therapeutic candidates early in the development process. By aiming
for early-stage value creation, the company reduces risk
considerably while increasing the potential for realising value.
The group is already in licensing discussions with major players in
the oncology field.
ValiRx's two classes of drugs in development, which each have
the potential for meeting hitherto unmet medical needs by existing
methods, have worldwide patent filings and agreed commercial
rights. They originate or derive from Word class institutions, such
as Cancer Research UK and Imperial College.
Until recently, cancer treatments relied on non-specific agents,
such as chemotherapy. With the development of target-based agents,
primed to attack cancer cells only, less toxic and more effective
treatments are now possible. New drugs in this group-such as those
in ValiRx's pipeline-promise to greatly improve outcomes for cancer
patients.
The Company listed on the AIM market of the London Stock
Exchange in October 2006 and trades under the ticker symbol:
VAL.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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