e-Therapeutics plc Issue of Equity and Directors' shareholdings (4832K)

TIDMETX

RNS Number : 4832K

e-Therapeutics plc

21 September 2016

e-Therapeutics plc

('e-Therapeutics' or 'the Company')

Issue of Equity and Directors' Shareholdings

21 September 2016, Oxford and Newcastle, UK: e-Therapeutics plc (AIM: ETX), the drug discovery company, announces the issue, pursuant to the Company's offer for the issued and to be issued share capital of Searchbolt Limited ('Searchbolt') ('the Offer'), of 8,864 new ordinary shares.

Under the Offer certain of the consideration was withheld pending the satisfaction of certain conditions. Those conditions have now been satisfied and the relevant retention is now payable. Certain of the sellers of Searchbolt shares elected to receive a total of 8,864 ordinary shares in e-Therapeutics in satisfaction of some or all of their entitlement to such retention. The new ordinary shares were allotted on 21 September 2016 at a price of 14.55 pence per share, this being the average of the closing mid-market price on the 30 business days ending on the day before the announcement of the Offer.

Sean Nicolson, a director of e-Therapeutics and a former shareholder in Searchbolt Limited, elected to take the full share alternative entitlement in e-Therapeutics shares. The number of shares allotted to Mr Nicolson on 21 September 2016 and his resultant total interest in e-Therapeutics shares following this allotment are shown below.

 
 Director         Shares allotted   Ordinary shares    Options over 
                   21 September      held following     ordinary shares 
                   2016              allotment (%       held (% of 
                                     of issued share    issued share 
                                     capital)           capital) 
---------------  ----------------  -----------------  ----------------- 
 Sean Nicolson    2,166             140,573 (0.05%)    - 
---------------  ----------------  -----------------  ----------------- 
 

Application has been made to admit the 8,864 new ordinary shares to trading on AIM and dealings in the new ordinary shares are expected to commence on 28 September 2016.

Following admission the number of ordinary shares in issue in the Company will be 268,347,921. This figure may be used by shareholders 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, e-Therapeutics plc under the Financial Conduct Authority's Disclosure and Transparency Rules.

Contacts:

 
 e-Therapeutics plc                   Tel: [phone] 
  Iain Ross, Chairman                  883 125 
  Steve Medlicott, Finance Director    www.etherapeutics.co.uk 
 Numis Securities Limited             Tel: [phone] 
  Michael Meade / Freddie Barnfield    1000 
  (Corporate Finance)                  www.numis.com 
  James Black (Corporate Broking) 
 Instinctif Partners                  Tel: [phone] 
  Melanie Toyne Sewell / Jayne         2020 
  Crook / Emma Barlow                  Email: [e-mail] 
 

About e-Therapeutics plc

e-Therapeutics (AIM: ETX) is a drug discovery company with a proprietary discovery platform based on advances in network pharmacology and chemical biology. The Company is applying its platform to the discovery of new drug candidates. The therapeutic focus of the Company's activity is in immuno-oncology, addressing drug resistance in targeted cancer therapies and anti-infectives. The platform is highly productive, yielding multiple potent and selective molecules at a much higher rate and more quickly than is reported for conventional drug discovery.

e-Therapeutics has a variety of preclinical stage assets, including ETS2300, telomerase inhibition in anti-cancer; ETS3100, small molecule anti-TNF<ALPHA>; ETS2400, Hedgehog pathway inhibition and ETS5200, broad spectrum antivirals. The Company has recently completed a phase IIb clinical trial for ETS6103, a drug to treat major depressive disorder.

The Company is fully funded to advance its drug discovery programmes. It is based in Oxford and Newcastle, UK. For more information, visit www.etherapeutics.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 21, 2016 11:06 ET (15:06 GMT)