CULS Conversion

RNS Number : 4332J

Alliance Pharma PLC

30 March 2010

 



For immediate release

30 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 30 March 2010 it received a conversion notice in respect of £375,000 nominal value of the Company's 8% Convertible Unsecured Loan Stock ("CULS").  Accordingly, the Company has allotted 1,785,713 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 1,785,713 Ordinary Shares to be admitted to trading on AIM, and it is expected that that these new Ordinary Shares, which will rank pari passu in all respects with the existing Ordinary Shares, will be admitted to trading on 7 April 2010.

Following conversion of the CULS, Alliance will have 227,959,527 Ordinary Shares in issue.  As a consequence of this increase in the total number of shares in issue the Company has been advised by one of its directors, Tony Booley, that his interest in 6,810,723 Ordinary Shares (unchanged) will fall below 3% to 2.99% of the issued share capital of the Company.

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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