CULS Conversion

RNS Number : 8815I

Alliance Pharma PLC

19 March 2010

 



For immediate release

19 March 2010

 

ALLIANCE PHARMA PLC

("Alliance" or the "Company")

CULS Conversion and Additional Listing

Alliance Pharma plc (AIM: APH), the speciality pharmaceutical company, announces that on 18 and 19 March 2010 it received conversion notices in respect of £700,000 nominal value of the Company's 8% Convertible Unsecured Loan Stock ("CULS").  Accordingly, the Company has allotted 3,333,330 ordinary shares of 1 pence each in the Company ("Ordinary Shares"), subject to admission of the Ordinary Shares to trading on AIM.

In addition, the Company was notified on 19 March 2010 of the exercise of options to acquire 185,682 Ordinary Shares.

Application has been made by Alliance for 3,519,012 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 25 March 2010.

Following the conversion of the CULS and the exercise of the options, Alliance will have 225,684,564 Ordinary Shares and £6,800,000 of CULS in issue.

For further information:

Alliance Pharma plc	+ 44 (0) 1249 466966
John Dawson, Chief Executive
Richard Wright, Finance Director
www.alliancepharma.co.uk
Buchanan Communications	+ 44 (0) 20 7466 5000
Mark Court / Stasa Filiplic / Jennie Spivey
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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