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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tiziana Life Sciences Plc | LSE:TILS | London | Ordinary Share | GB00BKWNZY55 | ORD 3P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 58.50 | 45.00 | 60.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTILS
RNS Number : 7751K
Tiziana Life Sciences PLC
12 July 2017
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Tiziana Life Sciences plc
("Tiziana" or "the Company")
Proposed restructuring of Convertible Loan Notes and Proposed Variation of Warrant Terms
London,12 July 2017 - Tiziana Life Sciences plc ("Tiziana", AIM: TILS), a clinical stage biotechnology company developing targeted drugs for cancer and autoimmune diseases, today announces that it has posted circulars to convertible loan note holders ("CLN Holders") and warrant holders ("Warrant Holders").
It is proposed that CLN Holders be offered an additional bonus coupon of 3 years of interest at the relevant applicable rate of return for agreeing to the immediate conversion of the CLNs into ordinary shares. If the CLN Holders agree to the proposal they will be subject to a restriction not to dispose of the relevant shares for a period of 12 months following conversion.
Furthermore, the Company has proposed to vary the terms of the warrants associated with the CLNs by extending the exercise period of these warrants to 31 December 2021. If the Warrant Holders agreement to the proposal, the ordinary shares they receive upon conversion of the warrants would also be subject to a restriction not to dispose of the relevant shares for a period of 12 months following such conversion.
GBP22,043,615 (at nominal value) of CLNs currently remain outstanding that are subject to the conversion request. If all of these CLNs were to be converted into ordinary share (including accrued interest) approximately 33,150,603 new ordinary shares in the Company would be created - representing approximately 26 % of the then so enlarged issued share capital of the Company.
Contacts
Tiziana Life Sciences plc Gabriele Cerrone, Chairman and founder +44 (0)20 7495 2379 Cairn Financial Advisers LLP (Nominated adviser) +44 (0)20 7213 Liam Murray / Jo Turner 0880 Beaufort Securities Limited (Broker) Saif Janjua +44 (0)20 7382 8300 FTI Consulting Simon Conway / Natalie Garland-Collins +44 (0)20 3727 1000
About Tiziana Life Sciences
Tiziana Life Sciences plc is a UK biotechnology company that focuses on the discovery and development of novel molecules that treat human disease in oncology and immunology. The Company is focused on its lead compound milciclib. The Company is also in clinical development of foralumab. Foralumab is the only fully human engineered anti-human CD3 antibody in clinical development. This phase II compound has potential application in a wide range of autoimmune and inflammatory diseases, such as nonalcoholic steatohepatitis (NASH), primary biliary cholangitis (PBS), ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable.
For more information go to http://www.tizianalifesciences.com
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
July 12, 2017 02:00 ET (06:00 GMT)
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