Completion of Lanstead Sharing Agreement

RNS Number : 6150S

Immupharma PLC

04 October 2017

 

                                                                                                                      4 OCTOBER 2017

ImmuPharma PLC

("ImmuPharma" or the "Company")

Completion of Lanstead Sharing Agreement

ImmuPharma plc (LSE: IMM), the specialist drug discovery and development company, wishes to announce the completion of the Sharing Agreement entered into with Lanstead Capital L.P. ('Lanstead') in February 2016 ("Sharing Agreement").

As announced on 5 February 2016, Lanstead subscribed for £4.4 million of new ordinary shares in ImmuPharma, with both parties also entering into the Sharing Agreement. All 18 settlements of the Sharing Agreement have now been completed. Through both the subscription and Sharing Agreement, ImmuPharma has received a total of just over £5.0 million from Lanstead, with a net gain of £0.6 million more than originally subscribed.

Tim McCarthy, Chairman of ImmuPharma, commented:

"Lanstead has been an important supporter of ImmuPharma and we are delighted how effectively the Sharing Agreement has worked for both parties. We look forward to a continued supportive relationship with Lanstead as ImmuPharma seeks to create long term shareholder value within its asset portfolio and specifically our focus on hitting key milestones within our lead programme Lupuzor™, as we get nearer to reporting top-line Phase III results in Q1 2018."

Nicholas Malins-Smith of Lanstead, commented:

"We are delighted to have been able to be supportive in the progression of ImmuPharma's pivotal Phase III clinical trial of Lupuzor™.  Through the Sharing Agreement with Lanstead, ImmuPharma has been able to benefit, through the increase in its share price, by securing additional funds over and above the original subscription amount.

"Lanstead is pleased to remain a supportive shareholder of ImmuPharma and looks forward to the Company's further progress."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

Ends

For further information please contact: ImmuPharma plc (www.immupharma.org) + 44 (0) 20 7152 4080 Tim McCarthy, Chairman Lisa Baderoon, Head of Investor Relations Twitter: @immupharma         + 44 (0) 7721 413496 Northland Capital Partners Limited (Joint Broker) Patrick Claridge, David Hignell, Jamie Spotswood Corporate Finance Rob Rees, Corporate Broking             [phone]

 

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