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Tiziana Life Sciences carries out a spot of corporate housekeeping

Published: 07:27 24 Apr 2020 BST

Tiziana Life Sciences -

Tiziana Life Sciences PLC (NASDAQ:TLSA, LON:TILS) has carried out a little corporate housekeeping by issuing shares to retire a chunk of debt.

It has wiped out £1.595mln of convertible loan notes, including accrued interest. At the same time, warrants were exercised bringing in just under £600,000 to the business.

In the same announcement investors, were told AIM-listed Tiziana’s plans to redomicile to Bermuda, cancel its American Depositary Receipt (ADR) programme and have its Bermuda common shares listed on NASDAQ have been delayed. It cited the coronavirus lockdown and “other factors” for the hold-up.

“The company will provide further updates in due course when it has a better sense of timing,” the drug developer added.

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