CULS Conversion

RNS Number : 1697N

Alliance Pharma PLC

07 June 2010

 



For immediate release

7 June 2010

 

ALLIANCE PHARMA PLC

("Alliance" or the "Company")

CULS Conversion, Additional Listing and Director Shareholding

Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, announces that it has received conversion requests in respect of £205,000 nominal value of the Company's 8% Convertible Unsecured Loan Stock.  Accordingly, the Company has allotted 976,189 ordinary shares of 1 pence each in the Company ("Ordinary Shares"), subject to admission of the Ordinary Shares to trading on AIM.

Application has been made by Alliance for the 976,189 Ordinary Shares to be admitted to trading on AIM, and it is expected that these new Ordinary Shares, which will rank pari passu in all respects with the existing Ordinary Shares, will be admitted to trading on 11 June 2010.

Following conversion and allotment, Alliance will have 231,463,195 Ordinary Shares and £5,699,550 of 8% Convertible Unsecured Loan Stock in issue.

In addition, as a result of this conversion and allotment the interest of John Dawson, Chief Executive Officer, in 62,261,402 Ordinary Shares will represent 26.90% of the issued share capital of the Company.

For further information:

Alliance Pharma plc	+ 44 (0) 1249 466966
John Dawson, Chief Executive Officer
Richard Wright, Finance Director
www.alliancepharma.co.uk
Buchanan Communications	+ 44 (0) 20 7466 5000
Mark Court / Stasa Filiplic
Numis Securities Limited	+ 44 (0) 20 7260 1000
Nominated Adviser: Michael Meade / Brent Nabbs
Corporate Broking: David Poutney

Notes to editors:

About Alliance

Alliance, founded in 1998, is an AIM listed speciality pharmaceutical company based in Chippenham, Wiltshire, UK. The Company has a strong track record of acquiring the rights to established niche products and, following the Cambridge Laboratories acquisition, owns or licenses the rights to more than 50 pharmaceutical products and continues to explore opportunities to expand the range.

Alliance's products are prescribed in the treatment of a wide range of conditions and include products used in the treatment of dermatological conditions, in oncology, in childbirth, in the prevention of heart disease, in Parkinson's disease, in nutrition and in nasal infections.  Alliance's sales are mainly prescription driven.  Its products are distributed to hospitals directly and to pharmaceutical wholesalers, which service both hospital and retail pharmacies with their prescription requirements.

Alliance joined the AIM market of the London Stock Exchange in December 2003 and trades under the symbol APH.

 

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