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Redx Pharma Plc RNS Release

Result of Open Offer

RNS Number : 9868X
Redx Pharma plc
27 February 2017
 

27 February 2017

REDX PHARMA PLC

("Redx" or "the Company")

 

Result of Open Offer

 

 

On 10 February 2017, Redx, the drug discovery and development company, announced that it had conditionally raised £11,500,000 by means of a Placing through the issue of 19,166,667 Placing Shares and the issue of 11,500,000 Subscription Shares at 37.5p per share. In addition, all Qualifying Shareholders were provided with an opportunity to subscribe for an aggregate of up to 7,808,163 Open Offer Shares on the basis of 1 Open Offer Share for every 12 Existing Ordinary Shares held on the Record Date, at 37.5 pence per share.

 

The Company has received valid acceptances in respect of 1,538,290 Open Offer Shares from Qualifying Shareholders. This represents approximately 19.70 per cent. of the Open Offer Shares offered. All eligible applications received from Qualifying Shareholders will be allocated their pre-emption entitlements and all eligible applications under the Excess Application Facility will be allocated their Open Offer Shares as applied for.

 

The Conditional Placing, Subscription and Open Offer remain conditional, amongst other things, upon the passing of the Resolutions at the General Meeting, to be held at 10.00 a.m. on 28 February and Second Admission occurring no later than 8.00 a.m. on 1 March or such later time or date as the parties to the Placing Agreement may determine.

 

Defined terms used in this announcement shall have the same meaning as those terms defined and used in the Circular of the Company 10 February 2017.

 

For further information, please contact:

 

Redx Pharma Plc


Neil Murray, Chief Executive

T: +44 1625 469 900 

Karl Hård, Head of Investor Relations &

Corporate Communications

T: +44 7491 651 406

 

Cantor Fitzgerald Europe (Nomad & Joint Broker)

 

T: +44 20 7894 7000

Phil Davies / Michael Reynolds


 

WG Partners LLP (Joint Broker)

 

T: +44 20 3705 9330

Claes Spång / Chris Lee / David Wilson


 

 

About Redx Pharma Plc

Company website: redxpharma.com

 

Redx is focused on the discovery and development of proprietary, small molecule therapeutics to address areas of high, unmet medical need, principally in cancer, infection and immunology, providing a pipeline of assets to larger and emerging companies. By improving the characteristics of existing drug classes to create highly differentiated, novel, best-in-class drugs, Redx has already established a broad portfolio of proprietary drug programs.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Redx Pharma Plc Timeline

CN Research
April 06 2017

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