AIM Sch 1 update - Onzima Ventures plc (9464D)

TIDMONZ

RNS Number : 9464D

AIM

02 May 2017

 
                     ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT 
                     PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 
                     OF THE AIM RULES FOR COMPANIES ("AIM RULES") 
------------------------------------------------------------------------------------- 
 
 COMPANY NAME: 
------------------------------------------------------------------------------------- 
 Onzima Ventures plc (to be renamed N4 Pharma 
  plc on Admission) 
------------------------------------------------------------------------------------- 
 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, 
  COMPANY TRADING ADDRESS (INCLUDING POSTCODES) 
  : 
------------------------------------------------------------------------------------- 
 Registered Office Address: 
  6(th) Floor 
  60 Gracechurch Street 
  London 
  EC3V 0HR 
 
  From Admission, the Company's trading address 
  will be: 
  Weston House 
  Bradgate Park View 
  Chellaston 
  Derbyshire 
  DE73 5UJ 
------------------------------------------------------------------------------------- 
 COUNTRY OF INCORPORATION: 
------------------------------------------------------------------------------------- 
 England and Wales 
------------------------------------------------------------------------------------- 
 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION 
  REQUIRED BY AIM RULE 26: 
------------------------------------------------------------------------------------- 
 www.n4pharma.com (to go live on Admission) 
------------------------------------------------------------------------------------- 
 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF 
  OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, 
  DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION 
  IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER 
  UNDER RULE 14, THIS SHOULD BE STATED: 
------------------------------------------------------------------------------------- 
 Admission is sought as a result of a reverse 
  take-over in accordance with AIM Rule 14. 
 
  Onzima Ventures plc (the "Company") is an investing 
  company under Rule 15 of the AIM Rules for Companies. 
  Trading on AIM in the Company's Ordinary Shares 
  was suspended on 17 October 2016 as the Company 
  had not made an acquisition or acquisitions 
  which constituted a reverse takeover, or implemented 
  its investing policy pursuant to Rule 15 of 
  the AIM Rules for Companies. 
 
  On 17 January 2017, the Company announced that 
  it had agreed in principle terms conditionally 
  to acquire the 51 per cent. of the issued shares 
  of N4 Pharma Limited ("N4 Pharma") which it 
  does not already own for consideration to be 
  satisfied by the issue of new ordinary shares 
  ("the Acquisition"). The Company also announced 
  that it intended at the same time to raise funds 
  by way of a placing of new ordinary shares (the 
  "Placing") to fund development of additional 
  patented reformulations of a wider range of 
  generic drugs, to undertake clinical trials 
  for the Company's reformulation of sildenafil 
  and for working capital purposes. 
 
  N4 Pharma is a specialist pharmaceutical company 
  which reformulates existing drugs and vaccines 
  to improve their performance. N4 Pharma's reformulation 
  work falls under two divisions. First, generic, 
  already commercialised, drugs, and second, delivery 
  of novel and existing vaccines. N4 Pharma has 
  identified a number of established drugs that 
  its directors believe could be improved upon 
  through its reformulation techniques. Its most 
  advanced reformulation is for sildenafil, widely 
  marketed as Viagra, where N4 Pharma is seeking 
  to improve the speed at which the drug takes 
  effect whilst also extending its duration of 
  action. N4 Pharma's business model is to take 
  reformulated drugs from its portfolio through 
  to the stage where it will then seek to license 
  the newly reformulated drugs to pharmaceutical 
  companies to commercialise them. N4 Pharma's 
  revenues should be derived from upfront milestone 
  and royalty payments associated with the licence. 
 
  Since March 2016, when 49 per cent. of N4 Pharma 
  was acquired by the Company, N4 Pharma has filed, 
  in aggregate, 74 patent applications in the 
  UK for the reformulation of various drugs and 
  vaccines. N4 Pharma has also acquired exclusive 
  rights from the University of Queensland to 
  commercialise two patent applications for its 
  vaccines division. 
 
  The Acquisition constitutes a reverse takeover 
  pursuant to the AIM Rules and is therefore subject 
  to, inter alia, the approval of the Company's 
  shareholders. 
 
  The Company also proposes to carry out a share 
  re-organisation through a consolidation followed 
  by a subdivision of its Ordinary Shares. Following 
  the reorganisation and prior to the issue of 
  the consideration shares and the shares to be 
  issued in the Placing, which is subject to approval 
  by the Company's shareholders, the Company will 
  have 45,489,200 ordinary shares of GBP0.004 
  each in issue. The number of consideration shares 
  to be issued following the share reorganisation 
  will be 9,102,200, of which 4,510,800 ordinary 
  shares will be issued initially, balance to 
  be issued subject to the mid-market price of 
  the Company's shares exceeding 15p for 10 consecutive 
  business days within two years from Admission. 
  On Admission, the Company is to be renamed N4 
  Pharma plc. 
------------------------------------------------------------------------------------- 
 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING 
  ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES 
  (i.e. where known, number and type of shares, 
  nominal value and issue price to which it seeks 
  admission and the number and type to be held 
  as treasury shares): 
------------------------------------------------------------------------------------- 
 Share capital immediately prior to Admission: 
  45,489,200 ordinary shares (post re-organisation) 
 
  At Admission: 
 
  71,714,285 ordinary shares of GBP0.004 each 
 
  22,711,103 warrants over ordinary shares 
 
  Issue Price: 7 pence 
 
  No restrictions on the transfer of securities 
 
  No ordinary shares will be held in treasury 
  on Admission 
------------------------------------------------------------------------------------- 
 CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) 
  AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: 
------------------------------------------------------------------------------------- 
 Capital raised: GBP1.5 million 
 
  Anticipated market capitalisation on Admission: 
  GBP5 million (at the issue price) 
------------------------------------------------------------------------------------- 
 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS 
  AT ADMISSION: 
------------------------------------------------------------------------------------- 
 29.7% 
------------------------------------------------------------------------------------- 
 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM 
  TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED 
  TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS 
  AIM SECURITIES) ADMITTED OR TRADED: 
------------------------------------------------------------------------------------- 
 None 
------------------------------------------------------------------------------------- 
 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED 
  DIRECTORS (underlining the first name by which 
  each is known or including any other name by 
  which each is known): 
------------------------------------------------------------------------------------- 
 Current Directors 
  Gavin John Burnell (Chief Executive Officer) 
  Luke Sebastian Cairns (Non-Executive Director) 
  Humayun Akhter Mughal (Non-Executive Director) 
 
  Proposed Directors on Admission 
  Nigel James Theobald (Chief Executive Officer) 
  Paul Charlton Titley (Executive Director) 
  David Templeton (Non-Executive Chairman) 
  Luke Sebastian Cairns (Non-Executive Director) 
------------------------------------------------------------------------------------- 
 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS 
  EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE 
  CAPITAL, BEFORE AND AFTER ADMISSION (underlining 
  the first name by which each is known or including 
  any other name by which each is known): 
------------------------------------------------------------------------------------- 
                                Before Admission               After Admission 
                             Number       % of Issued       Number      % of Issued 
                            of Shares     Share Capital    of Shares    Share Capital 
                              Held^                          Held 
  ----------------------  ------------  ---------------  -----------  --------------- 
   Nigel James 
    Theobald               29,893,963*       16.1%        12,198,577       17.0% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   Beaufort Securities 
    Limited                     -              -          7,242,857        10.1% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   Peel Hunt 
    LLP                         -              -          7,142,857        9.96% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   Hargreaves 
    Lansdown (Nominees) 
    Limited                27,993,193        15.4%        6,998,298         9.8% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   HSDL Nominees 
    Limited                27,339,936        15.0%        6,834,984         9.5% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   TD Direct 
    Investing 
    (Nominees) 
    Europe Limited         17,121,524         9.4%        4,280,381        5.97% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   Barclayshare 

    Nominees Limited       11,953,194         6.6%        2,988,299         4.2% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   AJ Bell Limited         11,499,052         6.3%        3,089,049         4.3% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   Turner Pope 
    Investments 
    Limited                     -              -          2,857,143        3.98% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   Humayun Akhter 
    Mughal                 11,232,515         6.2%        2,808,129         3.9% 
  ----------------------  ------------  ---------------  -----------  --------------- 
   Midas Investment 
    Management 
    Limited                 6,430,571         3.5%        2,800,501         3.9% 
  ----------------------  ------------  ---------------  -----------  --------------- 
 
  *Included in Nigel Theobald's holding is 687,225 
  ordinary shares held by his wife 
  ^Shares are shown pre-share reorganisation 
------------------------------------------------------------------------------------- 
 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE 
  WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: 
------------------------------------------------------------------------------------- 
 N/A 
------------------------------------------------------------------------------------- 
 (i) ANTICIPATED ACCOUNTING REFERENCE DATE 
  (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION 
  IN THE ADMISSION DOCUMENT HAS BEEN PREPARED 
  (this may be represented by unaudited interim 
  financial information) 
  (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST 
  THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: 
------------------------------------------------------------------------------------- 
      i) 31 December 
       ii) 31 December 2016 
       iii) Interim results for the 6 months ended 
       30 June 2017 - 30 September 2017 
       iv) Final results for the year ended 31 December 
       2017 - 30 June 2018 
       v) Interim results for the year ended 30 June 
       2018 - 30 September 2018 
------------------------------------------------------------------------------------- 
 EXPECTED ADMISSION DATE: 
------------------------------------------------------------------------------------- 
 3 May 2017 
------------------------------------------------------------------------------------- 
 NAME AND ADDRESS OF NOMINATED ADVISER: 
------------------------------------------------------------------------------------- 
 Stockdale Securities Limited 
  Beaufort House 
  15 St. Botolph Street 
  London EC3A 7BB 
------------------------------------------------------------------------------------- 
 NAME AND ADDRESS OF BROKER: 
------------------------------------------------------------------------------------- 
 Stockdale Securities Limited 
  Beaufort House 
  15 St. Botolph Street 
  London EC3A 7BB 
------------------------------------------------------------------------------------- 
 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, 
  DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) 
  THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, 
  WITH A STATEMENT THAT THIS WILL CONTAIN FULL 
  DETAILS ABOUT THE APPLICANT AND THE ADMISSION 
  OF ITS SECURITIES: 
------------------------------------------------------------------------------------- 
 A Copy of the Admission Document containing 
  full details about the applicant and the Admission 
  of its securities will be available on the Company's 
  website at: www.n4pharma.com (from Admission) 
------------------------------------------------------------------------------------- 
 DATE OF NOTIFICATION: 
------------------------------------------------------------------------------------- 
 2 May 2017 
------------------------------------------------------------------------------------- 
 NEW/ UPDATE: 
------------------------------------------------------------------------------------- 
 Update 
------------------------------------------------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

AIMDMGGKDZKGNZM

(END) Dow Jones Newswires

May 02, 2017 11:00 ET (15:00 GMT)