Redx Pharma plc Issue of Warrants and Change to Lease Agreement (3457R)

TIDMREDX

RNS Number : 3457R

Redx Pharma plc

28 February 2019

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN

REDX PHARMA PLC

("Redx" or "the Company")

Issue of Warrants and Change to Lease Agreement

Alderley Park, 28 February 2019 Redx (AIM: REDX), the drug discovery and development company focused on cancer and fibrosis, announces that, as previously noted in its 2018 Annual Report, it has successfully completed an agreement with Alderley Park Limited to significantly reduce its accommodation footprint in the Company's Headquarters at Alderley Park, Cheshire.

As part of the agreement, on 27 February 2019, a Warrant to acquire 750,000 ordinary shares of 1p each in the share capital of the Company was issued to Alderley Park Limited as follows:

The subscription price payable per warrant share on exercise of the warrant is:

 
                        Price                           No. of Shares                          Date of Vesting 
                        13.75p                          125,000                                27 February 2019 
                                -------------------------------------  ---------------------------------------- 
                        20p                             125,000                                27 February 2019 
                                -------------------------------------  ---------------------------------------- 
                        27p                             125,000                                27 February 2020 
                                -------------------------------------  ---------------------------------------- 
                        35p                             125,000                                27 February 2020 
                                -------------------------------------  ---------------------------------------- 
                        42.5p                           125,000                                27 February 2021 
                                -------------------------------------  ---------------------------------------- 
                        50p                             125,000                                27 February 2021 
                                -------------------------------------  ---------------------------------------- 
 

The Warrant will not become exercisable until the second anniversary of issue.

For further information, please contact:

 
Redx Pharma Plc                                T: [phone] 
                                                920 
Lisa Anson, Chief Executive Officer 
 
Cantor Fitzgerald Europe (Nominated Advisor &  T: [phone] 
 Joint Broker)                                  7000 
Phil Davies 
 
 
WG Partners LLP (Joint Broker)                 T: [phone] 
                                                9330 
Claes Spång/ Chris Lee/ David Wilson 
 
 
FTI Consulting                                 T: [phone] 
                                                1000 
Simon Conway/Stephanie Cuthbert 
 

About Redx Pharma Plc

Redx is a UK based biotechnology company whose shares are traded on AIM (AIM:REDX). Redx's vision is to become a leading biotech focused on the development of novel precision medicines that have the potential to transform treatment in oncology and fibrotic diseases.

If you would like to sign up to regular alerts from Redx Pharma, please follow this link https://www.redxpharma.com/investors/email-alerts/

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February 28, 2019 02:01 ET (07:01 GMT)