Tiziana Life Sciences PLC Subscription (3791L)
April 19 2018 - 2:00AM
UK Regulatory
TIDMTILS
RNS Number : 3791L
Tiziana Life Sciences PLC
19 April 2018
Tiziana Life Sciences plc
("Tiziana" or the "Company")
Subscription raising GBP825,000
London, April 19, 2018 - Tiziana Life Sciences plc ("Tiziana",
AIM: TILS), a clinical stage biotechnology company developing
targeted drugs for cancer and autoimmune diseases, today announces
that it has raised GBP825,000 in cash by the issue of 1,031,250 new
ordinary shares at a price of 80p per share. In addition, the
Company has issued 51,563 new ordinary shares credited as fully
paid and 51,563 warrants exercisable at a price of 80p per share to
intermediaries in lieu of commissions on the funds raised.
The Company has undertaken a number of smaller fund raises over
past year to provide it with its working capital requirement. As
the Company is at pre-revenue stage and engaged in research and
development, it continues to be reliant on raising further funds in
the equity markets to provide it with its on-going working capital
requirement.
Application has been made to the London Stock Exchange to admit
the 1,082,813 new ordinary shares to trading on AIM. Admission of
the new ordinary shares is expected to occur on or around 23 April
2018. The new ordinary shares will rank pari passu with the
existing ordinary shares. Following the issue of shares detailed
above the so enlarged issued share capital of the Company will
comprise 126,904,285 ordinary shares of 3p each.
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 5,060,809 ordinary shares at exercise prices between 50p
and GBP2.50 are outstanding (including the warrants referred to
above).
Therefore the fully diluted issued share capital of the Company
is 142,682,497 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 of 3 pence each ("Ordinary Shares") and that
following the issue of the 1,082,813 Ordinary Shares referred to
above, the total number of Ordinary Shares in issue will be
126,904,285. 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 126,904,285 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 and
Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The content of this
announcement has been reviewed and approved for publication by
Tiziano Lazzaretti, Chief Financial Officer of the Company.
Contacts
Tiziana Life Sciences plc +44 (0) 20 7493
Gabriele Cerrone, Chairman and founder 2853
Cairn Financial Advisers LLP
(Nominated adviser) +44 (0)20 7213
Liam Murray / Jo Turner 0880
This information is provided by RNS
The company news service from the London Stock Exchange
END
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