TIDMVAL
RNS Number : 3732X
ValiRx PLC
19 December 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN
THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN, OR ANY
MEMBER STATE OF THE EEA, OR ANY OTHER JURISDICTION WHERE, OR TO ANY
OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR
BREACH OF ANY APPLICABLE LAW OR REGULATION. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
THE COMMUNICATION OF THIS ANNOUNCEMENT AND ANY OTHER DOCUMENTS
OR MATERIALS RELATING TO THE RETAIL OFFER AS A FINANCIAL PROMOTION
IS ONLY BEING MADE TO, AND MAY ONLY BE ACTED UPON BY, THOSE PERSONS
IN THE UNITED KINGDOM FALLING WITHIN ARTICLE 43 OF THE FINANCIAL
SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005, AS
AMENDED (WHICH INCLUDES AN EXISTING MEMBER OF VALIRX PLC). ANY
INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT
RELATES IS AVAILABLE ONLY TO SUCH PERSONS AND WILL BE ENGAGED IN
ONLY BY SUCH PERSONS. THIS ANNOUNCEMENT IS FOR INFORMATIONAL
PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR
INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO
PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF VALIRX PLC.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS AMENDED
BY REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310 . UPON THE PUBLICATION OF THIS ANNOUNCEMENT
VIA REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
19 December 2023
VALIRX PLC
("ValiRx" or the "Company")
Result of Retail Offer
Director and PDMR Subscription
Further to the Conditional Fundraise, Notice of General Meeting
announcement dated 13 December 2023, ValiRx plc (the "Company")
(AIM: VAL), is pleased to announce that, following the closing of
the Retail Offer on the BookBuild platform on 19 December 2023, a
total of 3,204,068 new Shares have been subscribed for at the Issue
Price of 6 pence per Retail Offer Share in connection with the
Retail Offer, raising GBP192,244 for the Company, before expenses.
In addition, the Company has conditionally issued 499,998 new
Shares at the Issue Price of 6 pence per Subscription Share
pursuant to the Subscription.
Consequently, 26,324,997 Placing Shares, 499,998 Subscription
Shares and 3,204,068 Retail Offer Shares, resulting in a total of
30,029,063 new Shares, will be issued conditional on shareholder
approval at the Company's forthcoming general meeting and
Admission, in relation to the Placing, Subscription and Retail
Offer, raising total gross proceeds of approximately GBP1.80
million.
Subscription
In addition to the Placing and the Retail Offer, certain
Directors and PDMRs (together the "Participants") of the Company
have agreed to subscribe directly with the Company for, in
aggregate, 499,998 Subscription Shares at the Issue Price of 6
pence per Share. Details of the Subscription are set out below:
Shareholding
Subscription Shareholding as a percentage
Existing beneficial Shares subscribed on completion of the Enlarged
Director/PDMR shareholding for of the Fundraising Share Capital
Suzanne Dilly 416,668 66,666 483,334 0.37%
Kevin Cox 372,333 150,000 522,333 0.39%
Gerry Desler 128,668 66,666 195,334 0.15%
Martin Lampshire 144,000 150,000 294,000 0.22%
Cathy Tralau-Stewart - 66,666 66,666 0.05%
In addition to the Subscription, and as announced on 13 December
2023, Stella Panu, Non-Executive Director of the Company has
subscribed for 333,333 Placing Shares. Subject to the passing of
the Fundraising Resolutions, the Placing Agreement becoming
unconditional and Admission, Stella Panu will hold 333,333 Shares
representing approximately 0.25% of the Enlarged Share Capital of
the Company.
The aggregate participation by all Directors and PDMRs pursuant
to the Placing and Subscription is approximately GBP50k.
The participation of the Participants in the Subscription
constitutes a related party transaction for the purposes of Rule 13
of the AIM Rules by virtue of the Participants being a director or
PDMR of the Company and therefore a related party (the
"Transactions"). Stella Panu, Non-Executive Director, being a
director of the Company independent of the Transactions considers,
having consulted with Cairn Financial Advisers LLP, the Company's
nominated adviser for the purposes of the AIM Rules, that the terms
of the Transactions are fair and reasonable in so far as the
Shareholders are concerned.
The Retail Offer Shares and Subscription Shares will, when
issued, be credited as fully paid up and will have the same rights
as the Existing Ordinary Shares including, voting, dividend, return
of capital and other rights, and will on issue be free of all
claims, liens, charges, encumbrances and equities.
Capitalised terms used in this announcement have the meaning
given to them in the Conditional Fundraise, Notice of General
Meeting announcement dated 13 December 2023, unless otherwise
defined in this announcement.
For more information, please contact:
ValiRx plc Tel: +44 (0) 2476 796496
www.valirx.com
Dr Suzanne Dilly, CEO Suzanne.Dilly@valirx.com
V Formation (Public Relations) +44 (0) 115 787 0206
www.vformation.biz
Lucy Wharton - Senior PR Executive
Sue Carr - Director lucy@vformation.biz
sue@vformation.biz
--------------------------
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213
Adviser) 0880
Liam Murray/Jo Turner/Ludovico Lazzaretti
--------------------------
Cavendish Capital Markets Limited Tel: +44 (0) 20 7397
(Joint Broker) 8900
Dale Bellis/Michael Johnson (Sales)
Callum Davidson/Giles Balleny (Corporate
Finance)
--------------------------
Turner Pope Investments (Joint Broker) Tel: +44 (0) 20 3657
James Pope / Andy Thacker 0050
--------------------------
Notes for Editors
About ValiRx
ValiRx is a life science company focused on early-stage cancer
therapeutics and women's health, accelerating the translation of
innovative science into impactful medicines to improve patient
lives.
ValiRx provides the scientific, financial, and commercial
framework for enabling rapid translation of innovative science into
clinical development.
Using its extensive and proven experience in research and drug
development, the team at ValiRx selects and incubates promising
novel drug candidates and guides them through an optimised process
of development, from pre-clinical studies to clinic and
investor-ready assets.
ValiRx connects diverse disciplines across scientific,
technical, and commercial domains, with the aim of achieving a more
streamlined, less costly, drug development process. The team works
closely with carefully selected collaborators and leverages the
combined expertise required for science to advance.
Lead candidates from ValiRx's portfolio are outlicensed or
partnered with investors through ValiRx subsidiary companies for
further clinical development and commercialisation.
ValiRx listed on the AIM Market of the London Stock Exchange in
October 2006 and trades under the ticker symbol: VAL.
For further information, visit: www.valirx.com
Cautionary statement
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
assumptions and are subject to a number of risks and uncertainties
that could cause actual events or results to differ materially from
any expected future events or results expressed or implied in these
forward-looking statements. Persons receiving this announcement
should not place undue reliance on forward-looking statements.
Unless otherwise required by applicable law, regulation or
accounting standard, the Company does not undertake to update or
revise any forward-looking statements, whether as a result of new
information, future developments or otherwise.
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END
ROIGZMMZRLVGFZM
(END) Dow Jones Newswires
December 19, 2023 13:11 ET (18:11 GMT)
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