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Immupharma PLC - Repayment of Convertible Security

RNS Number : 6518Z
Immupharma PLC
22 September 2020
 

 

                                                                                                                                                               22 September 2020

 

ImmuPharma plc

("ImmuPharma" or the "Company")

 

Repayment of Convertible Security

 

ImmuPharma plc (LSE:IMM) (Euronext Growth Brussels: ALIMM), the specialist drug discovery and development company, stated in its announcement on 2 September 2020 that following the placing,  both Lind Global Macro Fund, LP ("Lind") and L1 Capital Global Master Opportunities Fund ("L1") had the right to require repayment of a portion of their convertible security issued pursuant to the convertible security deed dated 10 June 2020, details of which were announced by the Company on 11 June 2020.

 

The Company announces that Lind has requested repayment of part of its convertible security. The amount to be repaid in accordance with the terms of the convertible security deed is $1,068,762.50 leaving an amount outstanding under the Lind convertible security of $355,112.50.

 

L1 has not exercised its right to repayment.

 

Following the repayment the Company still expects to have sufficient cash resources to fund operations through the end of 2023.

 

 

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For further information please contact:

 

ImmuPharma PLC (www.immupharma.com)

Tim McCarthy, Chairman

+ 44 (0) 207 152 4080

Dimitri Dimitriou, Chief Executive Officer

 

Lisa Baderoon, Head of Investor Relations

+ 44 (0) 7721 413496

 

 

SPARK Advisory Partners Limited (NOMAD)

Neil Baldwin

 

Stanford Capital Partners (Joint Broker)

Patrick Claridge

 John Howes

Bob Pountney

 

SI Capital (Joint Broker)

Nick Emerson

 

+44 (0) 203 368 3550

 

 

+44 (0) 203 815 8880

 

 

+44 (0) 1483 413500

 

 

4Reliance (Euronext Growth Listing Sponsor)

Jean-Charles Snoy

 

Degroof Petercam (Liquidity Provider)

Erik De Clippel

 

Backstage Communication

Olivier Duquaine

Gunther De Backer

+32 (0) 2 747 02 60

 

 

+32 (0) 2 287 95 34

 

 

 

+32 (0) 477 504 784

+32 (0) 475 903 909

 

 

 

 

Notes to Editors

 

About ImmuPharma PLC

ImmuPharma PLC (LSE AIM: IMM - Euronext Growth: ALIMM) is a specialty biopharmaceutical company that discovers and develops peptide-based therapeutics. The Company's portfolio includes novel peptide therapeutics for autoimmune diseases, anti-infectives, metabolic diseases and cancer. The lead program, Lupuzor™, is a first-in class autophagy immunomodulator which is in Phase III for the treatment of systemic lupus erythematosus (lupus / SLE). Lupus is an autoimmune disease which if left untreated can be fatal. Preclinical analysis suggest therapeutic activity for many other autoimmune diseases that share the same autophagy mechanism of action. ImmuPharma and Avion Pharmaceuticals signed on 28 November 2019, an exclusive licence and development agreement and trademark agreement for Lupuzor™ to fund a new international Phase III trial for Lupuzor™ and commercialise in the US. For additional information about ImmuPharma please visit www.immupharma.com. ImmuPharma's LEI (Legal Entity Identifier) code: 213800VZKGHXC7VUS895.

 

 

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