Tiziana Life Sciences PLC Placing to raise £600,000 and issue of equity (6077G)
March 05 2018 - 2:00AM
UK Regulatory
TIDMTILS
RNS Number : 6077G
Tiziana Life Sciences PLC
05 March 2018
Tiziana Life Sciences plc
("Tiziana" or the "Company")
Placing to raise GBP600,000 and issue of equity
Update on R&D tax credits
London, March 5, 2018 - Tiziana Life Sciences plc (AIM: TILS), a
clinical stage biotechnology company developing targeted drugs for
cancer and autoimmune diseases, today announces that it has raised
GBP600,000 by the issue of 600,000 new ordinary shares ("Placing
Shares") at a price of 100p per share (the "Placing"). Fees in
connection with the Placing are to be satisfied through the issue
of 78,000 warrants each exercisable at a price of GBP1.00 each at
any time up to 5 March 2023.
The Company is also pleased to confirm that it has now received
R&D tax credits of GBP469,000 in respect of the tax year
2015/16 and is finalising claims for the 2016/17 tax year at the
current time. Due to the significant increase in levels of clinical
research spend in 2016 and 2017 the Company expects additional
R&D tax credits in excess of GBP2.5m for this period (subject
to the agreement of the claim by HMRC).
Application has been made to the London Stock Exchange plc to
admit the Placing Shares to trading on AIM with admission expected
to occur on 9 March 2018. These shares will rank pari passu with
the existing ordinary shares of nominal value 3p each in the
capital of the Company (the "Ordinary Shares"). Following the issue
of the Placing Shares, the enlarged issued share capital of the
Company will comprise 125,821,472 Ordinary Shares.
The Company has granted options over a total of 10,717,403
Ordinary Shares of which 5,085,833 are vested at exercise prices
between 15p and GBP1.25p per share and 5,631,570 remain subject to
vesting conditions (at potential exercise prices ranging from 15p
to GBP1.925 per share). In addition warrants to subscribe for a
total of 5,009,246 Ordinary Shares at exercise prices between 50p
and GBP2.50 are outstanding, including the new warrants granted in
the Placing.
Therefore the fully diluted issued share capital of the Company
is 141,548,121 Ordinary Shares (assuming all options and warrants,
vested and unvested, exercised and exercisable, were
converted).
In conformity with DTR 5.6.1, the Company notifies that as at
the date of this announcement, it has a single class of shares in
issue being Ordinary Shares and that following the issue of the
Placing Shares, the total number of Ordinary Shares in issue will
be 125,821,472. There are no Ordinary Shares held in Treasury. Each
Ordinary Share entitles the holder to a single vote at general
meetings of the Company.
This figure of 125,821,472 Ordinary Shares may be used by
shareholders (and others with notification obligations) as the
denominator for the calculations by which they will determine
whether 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.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014 and the person who arranged
for release of this announcement on behalf of the Company was
Tiziano Lazzaretti, Chief Financial Officer.
Contacts
Tiziana Life Sciences plc
Gabriele Cerrone, Chairman +44 (0)20
and founder 7493 2853
Cairn Financial Advisers
LLP (Nominated adviser) +44 (0)20
Liam Murray / Jo Turner 7213 0880
About Tiziana
Tiziana 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. The Company is also in clinical
development of foralumab. Foralumab is the only fully human
engineered human anti-CD3 antibody in clinical development. This
phase II compound has potential application in a wide range of
autoimmune and inflammatory diseases, such as nonalcoholic
steatohepatitis (NASH), primary biliary cholangitis (PBS),
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.
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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