Tiziana Life Sciences PLC Issue of Equity (5349C)
June 29 2016 - 2:00AM
UK Regulatory
TIDMTILS
RNS Number : 5349C
Tiziana Life Sciences PLC
29 June 2016
Tiziana Life Sciences PLC
("Tiziana" or the "Company")
Exercise of Warrants, Conversion of Convertible Loan Notes and
Issue of Equity
London, 29 June 2016 - Tiziana Life Sciences plc (AIM: TILS), a
clinical stage biotechnology company focused on targeted drugs to
treat diseases in oncology and immunology, announces that it has
received the following notifications:
(i) from warrant holders to exercise warrants over 206,250
ordinary shares in the Company at an exercise price of 32p per
share, providing the Company with gross proceeds of GBP66,000;
and
(ii) from convertible loan note holders to convert loan notes in
the principal and interest amount of GBP168,000 into ordinary
shares in the Company at a conversion price of 24p resulting in the
issuance of 700,000 ordinary shares in the Company.
Application will be made to the London Stock Exchange to admit
the 906,250 new ordinary shares to trading on AIM. Admission of the
new ordinary shares is expected to occur on or around 4 July 2016.
The new ordinary shares will rank pari passu with the existing
ordinary shares.
Following the issue of shares detailed above the so enlarged
share capital of the Company will comprise 94,393,400 ordinary
shares of 3p each. The Company has outstanding convertible loan
notes in the principal amount of GBP12,969,219 convertible into new
ordinary shares at conversion prices ranging from 24p to GBP1.50.
The Company has granted options over a total of 11,749,402 ordinary
shares of which 4,855,000 are vested at exercise prices between 15p
and 57p per share and 6,894,402, remain subject to vesting
conditions (at potential exercise prices ranging from 15p to
GBP1.50 per share). In addition warrants to subscribe for a total
of 6,029,103 ordinary shares at exercise prices between 32p and
GBP2.50 are outstanding.
Therefore the fully diluted issued share capital of the Company
is 134,215,520 ordinary shares (assuming all convertible loan
notes, options and warrants, vested and unvested, exercised and
exercisable, were converted but not taking into consideration new
ordinary shares to be issued for accrued but unpaid interest on the
convertible loan notes).
Contacts:
Tiziana Life Sciences plc
Gabriele Cerrone, Chairman and founder +44 (0)20 7493 2853
Cairn Financial Advisers LLP (Nominated adviser)
Liam Murray +44 (0)20 7148 7900
Beaufort Securities Limited (Broker)
Saif Janjua +44 (0)20 7382 8300
FTI Consulting
Simon Conway / Rob Winder / Natalie Garland-Collins +44 (0)20 3727 1000
About Tiziana Life Sciences
Tiziana Life Sciences plc is a UK biotechnology company that
focuses on the discovery and development of novel molecules that
treat human disease in oncology and immunology.
The Company is focused on its lead compound, milciclib, a
molecule which blocks the action of specific enzymes called
cyclin-dependent kinases (CDK) involved in cell division as well as
a number of other protein kinases. Milciclib is currently
completing phase II clinical trials for thymic carcinoma in
patients previously treated with chemotherapy and preparing and IND
to enroll patients in an exploratory trial in Hepatic Cellular
Carcinoma (HCC).
The Company is also in clinical development of foralumab.
Foralumab is the only fully human engineered anti-human CD3
antibody in clinical development. This phase II compound has
potential application in a wide range of autoimmune and
inflammatory diseases, such as ulcerative colitis, multiple
sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD),
psoriasis and rheumatoid arthritis, where modulation of a T-cell
response is desirable.
Tiziana Life Sciences' clinical development teams are working on
its Bcl-3 candidate; which has a prominent role in the metastasis
of mammary cancers, and has elucidated the mechanism of Bcl-3
action to be a regulator of cancer cell motility and has also
determined that Bcl-3 inhibition suppresses cell motility in
triple-negative, HER-2-positive PR- and ER-positive breast cancer
sub-types, suggesting that Bcl-3 may be a master regulator of this
metastatic property not only in aggressive breast cancers, but
across the clinical spectrum of breast disease. The Company is
preparing the IND package with the intention of progressing to
clinical trials this year.
For more information go to
http://www.tizianalifesciences.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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