Open Orphan PLC Exercise of Warrants (1857S)
07 July 2020 - 4:10PM
UK Regulatory
TIDMORPH
RNS Number : 1857S
Open Orphan PLC
07 July 2020
7 July 2020
Open Orphan plc
("Open Orphan" or the "Company")
Exercise of Investor Warrants by Investors and Issue of
Shares
Open Orphan plc (ORPH), the rapidly growing specialist CRO
pharmaceutical services company which is the world leader in the
testing of vaccines and antivirals using human challenge study
models, has received notices of exercise of warrants by investors
who participated in the Venn loan note financing in December 2018
over 1,749,732 ordinary shares of 0.1 pence each in the capital of
the Company ("Ordinary Shares") at a price of 0.1 pence per share
for 619,448 Ordinary Shares and at a price of 2.2 pence per share
for 1,130,284 Ordinary Shares. The gross proceeds of this exercise
received by the Company amounts to GBP25,485.72.
Following the warrant exercise, the outstanding warrants over
Ordinary Shares are as follows:
Number of Exercise Date awarded Expiry Date Beneficiary
Ordinary Shares Price per
share
----------------- ----------- ----------------- ------------ ------------------------
166,666 30 pence 7 June 2011 6 June 2021 An advisor
949,253 0.1 pence 11 December 2018 10 December Venn loan note investors
2023
1,732,053 2.2 pence 11 December 2018 10 December Venn loan note investors
2023
1,607,142 5.6 pence 28 June 2019 27 June 2024 An advisor
The Company has made application for 1,749,732 new Ordinary
Shares, to be issued and allotted as a result of the warrant
exercise set out above, to be admitted to trading on AIM and
Euronext Growth. Admission is expected to occur at 8.00 a.m. on 10
July 2020.
Total Voting Rights
Following the admission of 1,749,732 new Ordinary Shares, the
Company's total issued ordinary share capital will consist of
665,609,830 Ordinary Shares. This figure may be used by
shareholders 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 the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
ENDS
For further information please contact
Open Orphan plc
+353 (0)1 644
Cathal Friel, Executive Chairman 0007
Arden Partners plc (Nominated Adviser and Joint +44 (0)20 7614
Broker) 5900
John Llewellyn-Lloyd / Benjamin Cryer
+44 (0)20 7220
finnCap Ltd (Joint Broker) 0500
Geoff Nash / James Thompson / Richard Chambers
+353 (0)1 679
Davy (Euronext Growth Adviser and Joint Broker) 6363
Anthony Farrell
+44 (0)20 3757
Camarco (Financial PR) 4980
Tom Huddart / Hugo Liddy
Notes to Editors - Open Orphan:
Open Orphan is a rapidly growing niche CRO pharmaceutical
services company which is a world leader in the testing of vaccines
and antivirals through the use of human challenge clinical trials.
Conducted from Europe's only 24-bedroom quarantine clinic with
onsite virology providing individually isolated rooms and connected
to our specialist laboratory facility. Which offers highly
specialised virology and immunology laboratory services to support
pre-clinical and clinical respiratory drug, antiviral, and vaccine
discovery and development. Reliable laboratory analysis underpinned
by scientific expertise is essential when processing and analysing
clinical samples. Robust quality processes support our team of
scientists in the delivery of submission ready data.
The Company has a leading portfolio of 8 viral challenge study
models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 COPD
viral challenge models. As announced in early March, Open Orphan is
rapidly advancing a number of Coronavirus challenge study models
and expects to be helping many COVID-19 vaccine development
companies to test their vaccines. No other company in the world has
such a portfolio, with only two competitors globally having 1
challenge study model each. In June 2020 hVIVO COVID Clear Test was
launched, the most accurate antibody test available to UK
employers, helping them to get their people back to work.
Open Orphan comprises of two commercial specialist CRO services
businesses, hVIVO and Venn Life Sciences , and is developing an
early stage orphan drug genomics data platform business. This
platform captures valuable genetic data from patient populations
with specific diseases with designated orphan drug status and
incorporating AI tools. In June 2019, Open Orphan acquired
AIM-listed Venn Life Sciences Holdings plc in a reverse take-over
and in January 2020 it completed the merger with hVIVO plc. Venn,
as an integrated drug development consultancy, offers CMC
(chemistry, manufacturing and controls), preclinical, Phase I &
II clinical trials design and execution. The merger with hVIVO
created a European full pharma services company broadening the
Company's customer base and with complementary specialist CRO
services, widened the range of the Company's service offerings.
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
MSCBCGDRGUGDGGL
(END) Dow Jones Newswires
July 07, 2020 02:10 ET (06:10 GMT)
Venn Life Sciences (LSE:VENN)
Historical Stock Chart
From Apr 2024 to May 2024
Venn Life Sciences (LSE:VENN)
Historical Stock Chart
From May 2023 to May 2024