TIDMMTFB
RNS Number : 5579A
Motif Bio PLC
02 June 2021
2 June 2021
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
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WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM
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JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN MOTIF BIO PLC OR ANY OTHER ENTITY
IN ANY JURISDICTION.
Motif Bio plc
("Motif" or the "Company")
Update on Share Consolidation and Admission Warrants
Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM
Rule 15 cash shell, provides an update on the Share Consolidation
and Admission Warrants that were detailed in its announcement of 26
May 2021.
The Company's current issued share capital of 654,991,023 will
be adjusted through a proposed Share Consolidation to 2,977,231 New
Ordinary Shares. The Company will issue 27,502,645 Consideration
Shares for the proposed acquisition of BiVictriX (the
"Acquisition"). On a primary basis, prior to the concurrent GBP10.1
million Fundraising, the Company will have 30,479,876 New Ordinary
shares outstanding and issued.
As additional consideration, Admission Warrants over 1,488,615
New Ordinary Shares are to be issued for the benefit of existing
Motif shareholders.
The Admission Warrants will be granted on the basis of one
Admission Warrant per two New Ordinary Shares held immediately
prior to completion of the Acquisition, with an exercise price of
30 pence and valid for 180 days following Admission which is
expected to be on or around 8.00 a.m. on 15 June 2021.
The Admission Warrants will not be listed or admitted to
trading, are not freely transferable and will be issued to existing
Motif shareholders in certificated form by 25 June 2021.
The Acquisition details, as provided above, are all conditional
on Shareholder support of all Resolutions at the General Meeting.
For additional information on the Acquisition, please see the
Admission Document which is posted on the Company's website
(www.motifbio.com).
As all Resolutions to be voted on at the General Meeting are
conditional, all Resolutions must be approved by shareholders for
the Acquisition to proceed. Motif Bio plc will not be able to
continue operations in the absence of this Acquisition. As a
result, if all Resolutions are not approved by shareholders, it is
expected that Motif's shares would be de-listed from the AIM market
and Shareholders would receive no further value.
Expected Timetable of Principal Events
Time and date of the General Meeting 12.00 p.m. on 14
June 2021
Announcement of the result of the General Meeting 14 June 2021
Record date for the issue of the Admission Warrants 6.00 p.m. on 14
June
Ex-date of the issue of the Admission Warrants 15 June 2021
Despatch of Admission Warrant certificates By 25 June 2021
The Admission Document and further information on the Company
can be found on Motif's website at: www.motifbio.com
Capitalised terms used in this announcement carry the same
meanings as those ascribed to them in the Company's Admission
Document dated 26 May 2021 and/or the Company's announcement of 26
May 2021, unless the context requires otherwise.
For further information please contact:
ir@motifbio.com
Motif Bio plc
Jonathan Gold (Non-Executive Director)
------------------------
SP Angel Corporate Finance LLP (NOMAD
& BROKER) +44 (0) 20 3470 0470
------------------------
David Hignell/Caroline Rowe (Corporate
Finance)
------------------------
Vadim Alexandre/Rob Rees (Sales & Broking)
------------------------
Walbrook PR Ltd. (UK FINANCIAL PR &
IR) +44 (0) 20 7933 8780
------------------------
Paul McManus/ Lianne Cawthorne motifbio@walbrookpr.com
------------------------
Forward-Looking Statements
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outcomes and results may differ materially from what is expressed
in such forward-looking statements or expectations. Among the
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loss of key personnel, the result of legal and commercial due
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END
UPDSSSSAEEFSEEM
(END) Dow Jones Newswires
June 02, 2021 04:32 ET (08:32 GMT)
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