Exercise of Warrants and Issue of Shares

RNS Number : 3463N

Open Orphan PLC

23 September 2019

 

23 September 2019

Open Orphan Plc

("Open Orphan" or the "Company")

Exercise of Warrants and Issue of Shares

Open Orphan, a European-focussed, rare and orphan drug consulting services platform, announces that the Company has received notices of exercise of warrants over 539,654 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at a price of 0.1 pence per share for 191,051 ordinary shares and at a price of 2.2 pence per share for 348,603 ordinary shares. The gross proceeds of this exercise received by the Company amounts to £7,860.33.

Following the warrant exercise, the outstanding warrants over Ordinary Shares are as follows:

Number of Ordinary Shares	Exercise Price per share	Expiry Date
166,666	30 pence	6 June 2021
1,759,752	0.1 pence	10 December 2023
3,210,940	2.2 pence	10 December 2023
1,607,142	5.6 pence	27 June 2024

Total Voting Rights
The Company has made application for 539,654 new Ordinary Shares, to be issued and allotted as a result of the warrant exercise set out above, to be admitted to trading on AIM and Euronext Growth.  Admission is expected to occur at 8.00 a.m. on 27 September 2019.

Following the admission of 539,654 new Ordinary Shares, the Company's total issued ordinary share capital will consist of 254,572,567 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Enquiries:

Open Orphan Plc Tel: [phone]
Cathal Friel, Chief Executive Officer

Arden Partners (Nominated Adviser and Joint Broker) Tel: [phone]
John Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer

Davy (Euronext Growth Adviser and Joint Broker) Tel: [phone]
Anthony Farrell (Corporate Finance)

Camarco (Financial PR) Tel: [phone]
Tom Huddart / Billy Clegg / Daniel Sherwen

Notes to Editors:

Open Orphan plc is a European-focussed, rare and orphan drug consulting services platform. The Company consists of four elements: a European clinical research organisation and consultancy; an orphan drug services business; a Virtual Rep and Data Access Platform consisting of physicians and key opinion leaders; and a Health Data Platform to partner with Patient Advocacy Groups. The Company is targeting rapid growth in one of the fastest growing sectors in the global pharmaceutical industry targeting under-supplied treatment for life threatening or very serious diseases and rare disorders.

 

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