Midatech Pharma PLC Amendment to Relationship Agreement (6904M)

TIDMMTPH

RNS Number : 6904M

Midatech Pharma PLC

12 May 2020

Midatech Pharma PLC

("Midatech" or the "Company")

Amendment to Relationship Agreement

Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP), a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines announces that China Medical System Holdings Ltd (0867.HK) ("CMS"), its concert parties and the Company have mutually agreed to amend the relationship agreement entered into on 29 January 2019 ("Relationship Agreement").

The Relationship Agreement governs the relationship between Midatech, CMS and various CMS affiliates ("CMS Concert Party"). Midatech and the CMS Concert Party have agreed to amend the Relationship Agreement to remove CMS' rights to appoint a director and observer to the Board of Midatech. In addition, in the event that a vote at a general meeting or election is required, the CMS Concert Party has agreed to vote their Ordinary Shares in the same manner and proportion as all other Ordinary Shares are voted by shareholders other than the CMS Concert Party.

The Company remains in an "Offer Period" as defined in the Takeover Code in relation to the previously announced Formal Sale Process that is underway as part of the Company's strategic review.

For more information, please contact:

 
 
   Midatech Pharma PLC 
 Stephen Stamp, CEO, CFO 
 Tel: +44 (0)1235 888300 
 www.midatechpharma.com 
 
 Panmure Gordon (UK) Limited (Nominated Adviser and Broker) 
 Freddy Crossley, Emma Earl (Corporate Finance) 
 James Stearns (Corporate Broking) 
 Tel: +44 (0)20 7886 2500 
 
  Noble Capital Markets, Inc. (M&A adviser) 
  Michel Gouy, Tel. +43 664 230 2910 
  Wolfgang Stoiber Tel. +1 978 697 9753 
  mgouy@noblelsp.com / wstoiber@noblelsp.com 
 
 IFC Advisory Limited (Financial PR and UK Investor Relations) 
 Tim Metcalfe / Graham Herring 
 Tel: +44 (0)20 3934 6630 
 Email: midatech@investor-focus.co.uk 
 
 Edison Group (US Investor Relations) 
  Joseph Green/ Laine Yonker 
  Tel: (646) 653-7030/ 7035 
  jgreen@edisongroup.com/ lyonker@edisongroup.com 
 
           About Midatech Pharma PLC 
            Midatech Pharma PLC (dual listed on LSE AIM: MTPH; and NASDAQ: 
            MTP) is an R&D company focused on 'Making Medicines Better' 
            by improving delivery of drugs in the body. The Company combines 
            existing medications with its proprietary and innovative drug 
            delivery technologies to provide compelling oncology and rare 
            disease products that have the potential to powerfully impact 
            the lives of patients undergoing treatment for life threatening 
            diseases. 
            The Company has developed three in-house technology platforms, 
            each with its own unique mechanism to improve delivery of medications 
            to sites of disease. All of the Company's technologies have 
            successfully entered human use in the clinic, providing important 
            validation of the potential for each platform: 
 
             *    Q-Sphera(TM) platform: a disruptive micro-technology 
                  used for sustained release to prolong and control the 
                  release of therapeutics over an extended period of 
                  time (from weeks to months). 
 
 
             *    MidaSolve(TM) platform: an innovative nano-technology 
                  used to dissolve insoluble drugs so that they can be 
                  administered in liquid form directly and locally into 
                  tumours. 
 
 
             *    MidaCore(TM) platform: a leading edge nano-technology 
                  used for targeting medications to sites of disease. 
 
 
            By improving biodelivery and biodistribution of approved existing 
            molecules, Midatech's unique R&D has the potential to make medicines 
            better, lower technical risks, accelerate regulatory approval 
            and route to market, and provide newly patentable products. 
            The platform nature of the technologies allows the potential 
            to develop multiple drug assets rather than being reliant on 
            a limited number of programmes. 
            Midatech's headquarters and R&D facility is in Cardiff, UK. 
            For more information please visit www.midatechpharma.com 
            Forward-Looking Statements 
            Certain statements in this press release may constitute "forward-looking 
            statements" within the meaning of legislation in the United 
            Kingdom and/or United States Private Securities Litigation Reform 
            Act. All statements contained in this press release that do 
            not relate to matters of historical fact should be considered 
            forward-looking statements, including, but not limited to, statements 
            regarding the development of products by CMS, any payments that 
            may be received, the strategic review and formal sale process. 
            Reference should be made to those documents that Midatech shall 
            file from time to time or announcements that may be made by 
            Midatech in accordance with the London Stock Exchange AIM Rules 
            for Companies ("AIM Rules"), the Disclosure and Transparency 
            Rules ("DTRs") and the rules and regulations promulgated by 
            the US Securities and Exchange Commission, which contains and 
            identifies other important factors that could cause actual results 
            to differ materially from those contained in any projections 
            or forward-looking statements. These forward-looking statements 
            speak only as of the date of this announcement. All subsequent 
            written and oral forward-looking statements by or concerning 
            Midatech are expressly qualified in their entirety by the cautionary 
            statements above. Except as may be required under the AIM Rules 
            or the DTRs or by relevant law in the United Kingdom or the 
            United States, Midatech does not undertake any obligation to 
            publicly update or revise any forward-looking statements because 
            of new information, future events or otherwise arising.

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

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May 12, 2020 12:17 ET (16:17 GMT)

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