TIDMMXC
RNS Number : 0968W
MGC Pharmaceuticals Limited
13 April 2023
MGC Pharmaceuticals Ltd.
Fundraise closed raising up to a total of
GBP2,090,890 (A$3,824,424)
13 April 2023
ASX, LSE: MXC
MGC Pharmaceuticals Ltd ( " MGC Pharma " or the " Company "), a
European based pharmaceutical company specialising in the
production and development of plant inspired medicines, is pleased
to announce that, further to the announcement made on 11 April
2023, its fundraise round has now closed, conditionally raising up
to an aggregate of GBP2,090,890 (A$ 3,824,424 ) (before
expenses).
Australian HNW Offer and UK Broker Option
In addition to the Placing Shares referred to in the
announcement on 11 April 2023, the Company will issue 58,315,909
new Ordinary Shares ("New Ordinary Shares") and 29,157,955 free
attaching options ("Fundraise Options") to placees pursuant to its
offer to Australian sophisticated investors ("Australian HNW
Offer") and the UK Broker Option, a facility to allow subscription
for New Ordinary Shares by qualifying existing shareholders of the
Company and other qualified investors in the United Kingdom on the
same basis as investors in the Placing announced on 11 April 2023.
The issue of the New Ordinary Shares under the Australian HNW Offer
and the UK Broker Option has raised in aggregate GBP256,590
(A$467,655) (before expenses) at a price of 0.44 pence (0.8 cents)
per New Ordinary Share.
Each New Ordinary Share will rank pari passu with existing
Ordinary Shares and will be issued with one Fundraise Option for
every two New Ordinary Shares subscribed for and issued, each
exercisable at 0.66 pence (or 1.2 cents) on or before 12 April
2024.
Incorporating all the equity issues outlined in the announcement
dated 11 April 2023 and in this announcement, the Company will
issue all the new Ordinary Shares and free attaching options as
follows:
-- 476,741,995 Ordinary Shares with shareholder approval under
ASX Listing Rule 7.1 obtained on 30 March 2023; and
-- 238,370,997 Fundraise Options pursuant to existing placement
capacity under ASX Listing Rule 7.1.
Participating brokers will be receiving a fee of 5% on funds
raised.
Admission
Application will be made for admission of 21,690,909 UK Broker
Option Shares to the Official List (standard segment) and to
trading on the main market of the London Stock Exchange ("London
Admission") and to the Australian Securities Exchange. It is
expected that London Admission of the UK Broker Option Shares will
become effective at or around 8.00 a.m. (London time) on or around
18 April 2023 and that dealings in the UK Broker Option Shares will
commence at that time.
Total voting rights
On London Admission of the UK Broker Option Shares, the Company
will have 3,199,128,285 Ordinary Shares in issue, each with one
voting right. Therefore, the Company ' s total number of Ordinary
Shares in issue and voting rights will be 3,199,128,285 and this
figure may be used by shareholders from London Admission of the UK
Broker Option Shares 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 FCA ' s Disclosure Guidance and Transparency Rules.
- Ends -
Authorised for release by the board of directors, for further
information please contact:
MGC Pharmaceuticals Ltd MGC Pharmaceuticals Ltd
Roby Zomer Arron Canicais / Rowan Harland
CEO & Managing Director Joint Company Secretaries
+61 8 6382 3390 +61 8 6382 3390
info@mgcpharma.com.au info@mgcpharma.co.uk
UK PR Advisors UK Brokers
Tavistock Peterhouse Capital
Charles Vivian / Tim Pearson Charles Goodfellow / Lucy Williams
+44 207 920 3150 / Duncan Vasey
mgcpharma@tavistock.co.uk +44 207 469 0930
cg@peterhousecap.com / lw@peterhousecap.com
UK Financial Consultant
SW4 Partners
Rupert Fane / Nilesh Patel
rupert@sw4partners.com / nilesh@sw4partners.com
About MGC Pharma
M GC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European
based pharmaceutical company, focused on developing and supplying
accessible and ethically produced plant inspired medicines,
combining in-house research with innovative technologies, with the
goal of finding or producing treatments to for unmet medical
conditions.
The Company ' s founders and executives are key figures in the
global pharmaceuticals industry and the core business strategy is
to develop and supply high quality plant inspired medicines for the
growing demand in the medical markets in Europe, North America and
Australasia.
MGC Pharma has a robust development pipeline targeting two
widespread medical conditions and has further products under
development.
MGC Pharma has partnered with renowned institutions and academia
to optimise the development of targeted plant inspired medicines,
to be produced in the Company ' s EU-GMP Certified manufacturing
facilities.
MGC Pharma has a growing patient base in Australia, the UK,
Brazil, and Ireland and has a global distribution footprint via an
extensive network of commercial partners meaning that it is poised
to supply the global market.
Follow us through our social media channels:
Twitter: @MGC_Pharma
Facebook: @mgcpharmaceuticals
LinkedIn: MGC Pharmaceuticals Ltd.
Instagram: @mgc_pharma
General
Neither the content of the Company's website (or any other
website) nor the content of any website accessible from hyperlinks
on the Company's website (or any other website) or any previous
announcement made by the Company is incorporated into, or forms
part of, this announcement.
Except where the context otherwise requires, defined terms in
the Company's announcement of 11 April 2023 shall have the same
meaning when used in this announcement.
References to GBP and pence, and A$ and cents, in this
announcement are to the legal currency of the United Kingdom, and
of Australia, respectively. A conversion rate of GBP/AUD 1.83 has
been used.
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