Immupharma PLC Additional Listing - Conditional Placing (8166U)
October 21 2014 - 2:00AM
UK Regulatory
TIDMIMM
RNS Number : 8166U
Immupharma PLC
21 October 2014
FOR IMMEDIATE RELEASE 21 OCTOBER 2014
ImmuPharma PLC
AVIVA LEAD INVESTOR IN GBP3.4 MILLION FUND RAISING TO
SUPPORT
LUPUZOR(TM) PIVOTAL PHASE III PROGRESS
ImmuPharma PLC (LSE:IMM), ("ImmuPharma" or the "Company"), the
specialist drug discovery and development company, announces that
it has conditionally, raised approximately GBP3.4 million. This is
principally from ImmuPharma's long standing shareholder Aviva
Investors through a placing of 6,340,000 new ordinary shares of 10p
each in the Company, at a price of 53 pence per share,
approximately 3.9% per cent. premium to Monday's closing price.
Funds raised will be used to support ImmuPharma's pivotal Phase
III clinical trial for Lupuzor(TM) , the Company's lead candidate
for the treatment of lupus, a potentially life threatening
auto-immune disease.
The placement of shares is conditional on the admission of the
new ordinary shares to trading on AIM. Application will be made to
the London Stock Exchange plc for the admission of the new ordinary
shares to trading on AIM. It is expected that admission of the new
ordinary shares will become effective and dealings will commence on
AIM at 8:00 am on 23 October 2014. The new ordinary shares will,
when issued, rank pari passu with the existing ordinary shares of
the Company.
Following the share issue referred to above, ImmuPharma will
have 88,622,463 ordinary shares of 10p 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 FSA's Disclosure
and Transparency Rules.
Commenting on the announcement, Richard Warr, Chairman said:
"We are delighted with the additional investment in ImmuPharma
by Aviva and a small number of key investors. This is a significant
boost to our plans to support Lupuzor(TM) through its pivotal Phase
III development."
For further information please contact:
+ 44 (0) 20 7152
ImmuPharma plc 4080
Dimitri Dimitriou, Chief
Executive Officer
Dr Robert Zimmer, President
and Chief Scientific Officer
Richard Warr, Chairman
Tracy Weimar, Vice President,
Operations and Finance
Lisa Baderoon, Head of Investor
Relations + 44 (0) 7721 413496
Panmure, Gordon & Co., NOMAD
& Broker +44 (0) 20 7886 2500
Hugh Morgan, Fred Walsh,
Duncan Monteith
Principal terms of the Placing
The Board of ImmuPharma announces today a conditional placing
6,340,000 new ordinary shares of 10p in the Company at 53 pence per
share to raise approximately GBP3.4 millionbefore expenses (the
"Placing").
The shares being issued pursuant to the Placing represent
approximately 7.2 per cent. of the existing share capital. The
Placing Price of 53 pence per share represents a 3.9 per cent.
premium to the closing mid-market price of a ImmuPharma ordinary
share on 20 October 2014.
The Placing Shares will, when issued, be credited as fully paid
and will rank pari passu in all respects with the existing ordinary
shares of 10 pence each in the Company ("Ordinary Shares"),
including the right to receive all dividends and other
distributions declared, made or paid in respect of such shares
after the date of issue of the Placing Shares.
The Placing has not been underwritten and is conditional upon,
amongst other things, admission of the Placing Shares to trading on
AIM at the London Stock Exchange, becoming effective ("Admission"),
settlement by the placees.
The trade date for the Placing will be 21 October 2014 and
settlement for the Placing Shares as well as Admission is expected
to take place on 23 October 2014.
Each Placee's allocation will be confirmed to Placees orally
following the publication of this announcement and a trade
confirmation will be dispatched as soon as possible thereafter.
That oral confirmation shall constitute an irrevocable legally
binding commitment upon such person (who will at that point become
a Placee) in favour of the Panmure Gordon and the Company under
which it agrees to subscribe for the number of Placing Shares
allocated to it at the Placing Price on the terms and conditions
set out in this Appendix and in accordance with the Company's
Articles of Association.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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