Evgen Pharma PLC Result of Open Offer (9327Q)
March 03 2021 - 1:00AM
UK Regulatory
TIDMEVG
RNS Number : 9327Q
Evgen Pharma PLC
03 March 2021
THIS ANNOUNCEMENT AND THE INFORMATION IN IT, IS NOT FOR
PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA,
NEW ZEALAND, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH
OF ANY APPLICABLE LAW OR REGULATION OF THAT JURISDICTION. THIS
ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY.
FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND
IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU) NO 596/2014, AS AMENDED. UPON
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS GIVEN
TO THEM IN THE COMPANY'S CIRCULAR DATED 12 FEBRUARY 2021.
For immediate release
3 March 2021
Evgen Pharma plc
("Evgen Pharma" or "the Company")
Result of Open Offer
Evgen Pharma plc (AIM: EVG), a clinical stage drug development
company, is pleased to announce the results of its Open Offer.
On 2 February 2021, Evgen announced its intention to raise gross
proceeds of up to GBP11 million by way of a Placing and Open Offer,
all at an issue price of 8 pence per New Ordinary Share. A total of
137,490,676 New Ordinary Shares will be issued at the Issue Price
(subject to the conditions noted below), of which, 12,490,676 New
Ordinary Shares will be issued pursuant to the Open Offer. This
brings the gross proceeds of the Fundraising to approximately GBP11
million before expenses.
The Open Offer closed for acceptances at 11.00 a.m. yesterday.
The Company has received valid acceptances from Qualifying
Shareholders in respect of their Basic Entitlements in respect of
5,389,931 New Ordinary Shares, representing approximately 43 per
cent. of the Open Offer Shares. In addition, the Company has
received applications from Qualifying Shareholders under the Excess
Application Facility in respect of 14,359,431 New Ordinary Shares,
representing a total over-subscription of approximately 58 per
cent. of the available Open Offer Shares. Accordingly, Qualifying
Shareholders who have validly applied for Open Offer Shares will
receive their full Basic Entitlements. As applications under the
Excess Application Facility cannot be satisfied in full,
applications for New Ordinary Shares under the Excess Application
Facility will be scaled back in accordance with the terms set out
in the Circular.
General Meeting
The Fundraising remains conditional on the approval by
Shareholders of the Resolutions at the Company's General Meeting to
be held at 10:00 a.m. today (or any adjournment thereof), the
satisfaction of certain conditions in the Placing Agreement and
Admission of the New Ordinary Shares to trading on AIM occurring at
or before 8.00 a.m. on 4 March 2021 (or such later date as the
Company and finnCap may agree, being not later than 8.00 a.m. on 18
March 2021).
The Company will announce the results of the General Meeting as
soon as practicable after the meeting concludes.
Enquiries:
Evgen Pharma plc Via Walbrook
Barry Clare, Chairman
Dr Huw Jones, CEO
Richard Moulson, CFO
finnCap
Geoff Nash / Teddy Whiley (Corporate
Finance)
Alice Lane / Sunila de Silva
(ECM)
www.finncap.com +44 (0) 20 7220 0500
Walbrook PR +44 (0)20 7933 87870 or evgen@walbrookpr.com
Paul McManus/ Anna Dunphy +44 (0)7980 541 893 / +44 (0)7876
741 001
About Evgen Pharma plc
Evgen Pharma is a clinical stage drug development company
developing sulforaphane based medicines for the treatment of
multiple diseases. The Company's core technology is Sulforadex(R),
a method for synthesising and stabilising the naturally occurring
compound sulforaphane and novel proprietary analogues based on
sulforaphane. The lead product, SFX-01, is a patented composition
of synthetic sulforaphane and alpha-cyclodextrin.
Clinical data from the Company's open-label Phase II STEM trial
has shown that SFX-01 can halt the growth of progressing tumours in
patients with oestrogen-positive (ER+) metastatic breast cancer,
and in some cases significantly shrink the tumour, whilst causing
very few side effects.
The Company commenced operations in January 2008 and has its
headquarters at The Colony, Wilmslow, Cheshire, and its registered
office is at the Liverpool Science Park, Liverpool. It joined the
AIM market of the London Stock Exchange in October 2015 and trades
under the ticker symbol EVG.
For further information, please visit: www.evgen.com
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