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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Immupharma Plc | LSE:IMM | London | Ordinary Share | GB0033711010 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.11 | 4.91% | 2.35 | 2.30 | 2.40 | 2.30 | 2.20 | 2.20 | 1,317,704 | 16:35:11 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 0 | -3.81M | -0.0114 | -2.02 | 7.67M |
TIDMIMM
RNS Number : 7232C
Immupharma PLC
24 January 2018
24 JANUARY 2018
ImmuPharma PLC
("ImmuPharma" or the "Company")
SUCCESSFUL PLACING TO RAISE GBP10 MILLION
ImmuPharma PLC (LSE:IMM), the specialist drug discovery and development company, is pleased to announce that, in response to institutional demand, it has completed a fundraise totalling GBP10 million (before expenses) via a placing of 6,944,445 new ordinary shares of 10p each in the Company ("Ordinary Shares") at a price of 144p per share (the "Placing Shares") with new and existing investors (the "Placing").
Key highlights:
GBP10 million (before expenses) raised for the Company via the issue of Placing Shares:
-- Major new and existing institutional investors have participated in the Placing; and
-- ImmuPharma will apply these additional funds to support future investment in ImmuPharma's P140 peptide platform. The proceeds of the Placing will also provide the Company with additional working capital.
Commenting on the announcement, Tim McCarthy, Chairman, said: "With our recent key milestone being announced confirming the completion of our Phase III trial of Lupuzor(TM), the Company is now at an exciting and pivotal phase of its development. We were approached by new institutions, introduced by Turner Pope Investments, keen to support ImmuPharma over the next period of growth. We are therefore delighted to be able to announce this Placing that includes both new and existing institutions to support our continued development.
The proceeds of the Placing allow the Company to make investment into potential indications emanating from the Company's P140 platform, in addition to lupus. The Placing further strengthens the balance sheet and enhances ImmuPharma's position in ongoing and future negotiations with potential partners for Lupuzor(TM).
We look forward to providing our shareholders with further updates regarding the Lupuzor(TM) Phase III trial with key data still on track to be announced before the end of Q1 2018."
Details of the Placing
The Placing was undertaken by Northland Capital Partners Limited, the Company's Broker and Turner Pope Investments (TPI) Ltd, who acted as Subscription Agent.
The Placing Shares will rank pari passu with the existing Ordinary Shares and application has been made to the London Stock Exchange for admission of the Placing Shares to trading on AIM ("Admission"). The Placing is conditional, inter alia, on Admission, and dealings are expected to commence at 8.00am on 30 January 2018.
Total Voting Rights
Following Admission the Company's enlarged issued share capital will comprise 139,467,430 Ordinary Shares with voting rights. The figure of 139,467,430 Ordinary Shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this Announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.
For further information please contact: + 44 (0) 20 ImmuPharma plc (www.immupharma.com) 7152 4080 Tim McCarthy, Chairman Lisa Baderoon, Head of Investor Relations + 44 (0) 7721 Twitter: @immupharma 413496 Northland Capital Partners Limited David Hignell, Jamie Spotswood, Corporate Finance +44 (0)20 3861 Rob Rees, Corporate Broking 6625 Turner Pope Investments (TPI) Limited +44 (0)20 3621 Andy Thacker, Corporate Broking 4120
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
January 24, 2018 02:00 ET (07:00 GMT)
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