Result of Broker Option / PDMR Dealings

RNS Number : 6371V

Immupharma PLC

11 August 2022

 

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN ANY JURISDICTION, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, JAPAN AND THE REPUBLIC OF SOUTH AFRICA. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY JURISDICTION.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU. IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

11 August 2022 

ImmuPharma plc

  Result of Broker Option / PDMR Dealings

ImmuPharma plc ("ImmuPharma" or "the Company"), announces that it has raised £0.95 million (before expenses) pursuant to a Broker Option following the announcement made on 3 August 2022.

Under the terms of a placing agreement entered into by the Company with Stanford Capital Partners Limited ("SCP") and SPARK Advisory Partners Limited on 3 August, the Company granted an option to SCP to enable it to deal with additional demand under the Placing in the event that requests to participate in the Placing from qualifying investors were received during the period from the time of the announcement of the Placing up to 5.00 p.m. on 10 August 2022, up to a maximum of £1.3 million ("Broker Option"). SCP has exercised its Broker Option in respect of 19 million Broker Option Shares at the same price as the Placing.

Accordingly, the total number of Broker Option Shares to be issued by the Company pursuant to the Broker Option is 19 million. The aggregate gross proceeds of the Placing and the Broker Option is £1.04 million. Aggregate proceeds, net of expenses, are expected to be approximately £0.97 million.

Certain directors of the Company have subscribed for shares in the Broker Option as set out below:

Name of Director	No of Broker Option Shares subscribed	Number of Ordinary Shares held post Admission	% of Ordinary Share Capital (as enlarged by the issue of the Lanstead Subscription Shares, the Placing Shares, the Broker Option Shares, the Value Payment Shares and the Fee Shares)
Tim McCarthy	1,200,000	1,488,462	0 .46%
Tim Franklin	400,000	525,000	0 .16%
Lisa Baderoon	400,000	583,963	0 .18%

The Company will issue, conditional upon Admission, warrants to subscribe for a total of 1 million  new Ordinary Shares at the Issue Price for a period of 10 years from Admission to Stanford Capital Partners (0.5 million) and SI Capital (0.5 million). 

Further to the announcement of 3 August 2022, the Directors confirm that the fundraising, together with existing funding and funding arrangements, will provide the Company with sufficient working capital for at least the next 12 months.

This is based on the assumptions detailed in the announcement of 3 August 2022 and the Directors undertaking active measures to limit or defer cash outflows from the business in the near term, (which include the Directors deferring a proportion of their salaries) until such time as the business is able to meet these payments.

Settlement and dealings

Once issued, the rights of  Broker Option Shares will rank pari passu with the Company's existing Ordinary Shares.

An application will be made for the Broker Option Shares to be admitted to trading on AIM. Dealings in the Broker Option Shares on AIM are expected to commence at 8:00 a.m. on or around   16 August 2022 .

Total Voting Rights

Fo llowing Admission, the Company's issued share capital will comprise 325,803,104 Ordinary Shares with one voting right each and 284,984,933 deferred shares with no rights to vote. As the Company does not hold any shares in treasury, the total number of voting rights in the Company is also 325,803,104 and this figure of Ordinary Shares 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement have the meanings given to them in the announcement of the Lanstead Subscription and Placing on 3 August 2022.

    **ENDS**

For further information, please contact:

ImmuPharma PLC ( www.immupharma.com ) Tim McCarthy, Chief Executive Officer & Chairman	+ 44 (0) 207 152 4080
Lisa Baderoon, Head of Investor Relations & Non-Executive Director	+ 44 (0) 7721 413496
SPARK Advisory Partners Limited (NOMAD) Neil Baldwin Stanford Capital Partners (Joint Broker) Patrick Claridge John Howes Bob Pountney SI Capital (Joint Broker) Nick Emerson	[phone] [phone] [phone]

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tim McCarthy
2	Reason for the notification
a)	Position / status	Chairman and Chief Executive Officer
b)	Initial notification / Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ImmuPharma PLC
b)	LEI	213800VZKGHXC7VUS895
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument , type of instrument Identification code	Ordinary Shares of 1p each ISIN:  GB0033711010
b)	Nature of the transaction	Subscription for new Ordinary Shares
c)	Price(s) and volume(s)	Price	Volume
		5 pence	1,200,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	10 August 2022
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Ms Lisa Baderoon
2	Reason for the notification
a)	Position / status	Non - Executive Director
b)	Initial notification / Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ImmuPharma PLC
b)	LEI	213800VZKGHXC7VUS895
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument , type of instrument Identification code	Ordinary Shares of 1p each ISIN:  GB0033711010
b)	Nature of the transaction	Subscription for new Ordinary Shares
c)	Price(s) and volume(s)	Price	Volume
		5 pence	400,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	10 August 2022
f)	Place of the transaction	Off market

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Tim Franklin
2	Reason for the notification
a)	Position / status	Chief Operating Officer
b)	Initial notification / Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	ImmuPharma PLC
b)	LEI	213800VZKGHXC7VUS895
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument , type of instrument Identification code	Ordinary Shares of 1p each ISIN:  GB0033711010
b)	Nature of the transaction	Subscription for new Ordinary Shares
c)	Price(s) and volume(s)	Price	Volume
		5 pence	400,000
d)	Aggregated information - Aggregated volume - Price	N/A
e)	Date of the transaction	10 August 2022
f)	Place of the transaction	Off market

 

END

 

 

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