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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Okyo Pharma Limited | LSE:OKYO | London | Ordinary Share | GG00BD3FV870 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 91.00 | 1.20 | 1.60 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMOKYO
RNS Number : 3829W
OKYO Pharma Limited
18 August 2020
FOR IMMEDIATE RELEASE
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
18 August 2020
OKYO Pharma Limited
("OKYO" or the "Company")
Issue of additional convertible loan notes to raise GBP1,437,104 and intention to seek dual listing on NASDAQ
OKYO , the life sciences and biotechnology company, focused on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain, is pleased to announce that it has raised an additional GBP1,437,104 through the issue of convertible loan notes ("CLNs"). The proceeds of the CLNs, together with the GBP3,500,000 raised in July 2020 on similar terms will be used for working capital purposes. The CLNs carry an interest rate of 2.15% compounding and have maximum term of 4 years. The CLNs convert into ordinary shares at a price of 8.5p per share. Conversion will be subject to shareholder approval and no conversions may take place prior to 31 March 2021. Fees of 7.5% of the value on the CLN's were settled in kind through the issue of additional CLNs. The CLNs were placed with a small number of private investors.
OKYO intends to use the net proceeds received from the CLNs, to further the development of its clinical pipeline. The Company has now raised GBP5.37m since the end of the financial year on 31 March 2020, substantially enhancing cash on hand for advancement of the clinical development program, details of which were included in the announcement of annual result yesterday.
The Company now intends to progress a dual listing of its existing equity share capital on NASDAQ (subject to the required regulatory approvals).
The person who arranged for the release of this announcement on behalf of the Company was Keeren Shah, Chief Financial Officer of OKYO.
About OKYO
OKYO Pharma Limited (LSE: OKYO) is a life sciences and biotechnology company admitted to listing on the standard segment of the Official List of the UK Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc. OKYO is focusing on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain.
Enquiries:
OKYO Pharma Limited Willy Simon +44 (0)20 7382 8300 Optiva Securities Limited Robert Emmet + 44 (0)20 3981 4173
For further information, please visit the Company's website at www.okyopharma.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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August 18, 2020 02:00 ET (06:00 GMT)
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