Issue of Equity

RNS Number : 2829V

ValiRx PLC

29 October 2010

 



ValiRx Plc

("ValiRx" or the "Company")

Issue of equity

ValiRx (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine,  announces that the Company has issued 11,375,554 new ordinary shares of 0.1 p each at an issue price of 0.315p per share.  10,581,904 of the shares were issued to Cancer Research Technology Limited pursuant to the terms of a licensing agreement, the balance of the shares were issued in lieu of outstanding liabilities.

The Company announced on 30 September 2010 that the divestment of ValiBo together with grants from Eurostars and other income provide adequate working capital to take its therapeutics to the next stage of development.  Issuing shares in lieu of outstanding liabilities eases the working capital position of the Company, however the Company continues to closely monitor and control its working capital position.

Application has been made for the 11,375,554 new ordinary shares to be admitted to trading on AIM and dealings are expected to commence 4 November 2010.

Following the issue of equity of the new ordinary shares, the total number of ordinary Shares now in issue is 355,299,344.

Enquiries:-

ValiRx plc Dr. Satu Vainikka	Tel: [phone]
Cairn Financial Advisers LLP Nominated Adviser Tony Rawlinson / Liam Murray	Tel:[phone]
Hybridan LLP Broker Claire Noyce	Tel:[phone]
Peckwater PR Tarquin Edwards	Tel: [phone] [e-mail]

 

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