Placing to raise ?1m

RNS Number : 1029T

ValiRx PLC

15 November 2013

 

15 November 2013

ValiRx Plc

("ValiRx" or the "Company")

Placing to raise £1m

ValiRx Plc (AIM: VAL), a life science company with a focus on cancer therapeutics for personalised medicine, is pleased to announce that it has raised £1 million by way of a placing of 307,749,600 new ordinary shares in the capital of the Company ('the Placing Shares') at a price of 0.325 pence per Placing Share ('the Placing') with a range of institutional and other investors ('the Placees').

It is intended that the funds raised will be used to further advance the Company's programmes and to progress their development towards those respective value inflection points that exist across the portfolio.

Further Information

The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares of the Company.  Application has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM ('the Admission').  It is expected that Admission will become effective and that dealings in the Placing Shares will commence at 8.00am on 6 December 2013. 

Following Admission, the Company's enlarged issued share capital will comprise 2,018,934,009 ordinary shares with voting rights. The Company does not hold any shares in treasury. This figure of 2,018,934,009 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The Placing has been conducted by Daniel Stewart & Company Plc.

- ENDS -

For more information, please contact:

ValiRx plc Tel: [phone]

Dr Satu Vainikka www.ValiRx.com

Daniel Stewart & Company Plc (Broker) Tel: [phone]

David Hart / Mark Treharne

Cairn Financial Advisers LLP (Nominated Adviser) Tel:[phone]

Liam Murray / Avi Robinson

Peckwater PR Tel: [phone]

Tarquin Edwards [e-mail]

Notes for Editors

ValiRx Plc

ValiRx Plc is a biopharmaceutical company developing novel technologies and products in oncology

therapeutics and diagnostics. The product focus is in the epigenomic analysis and treatment of cancer, but the technologies can be applied to other fields as well, such as neurology and inflammatory diseases.

The Company listed on AIM in October 2006 and is creating a portfolio of innovative products through investment in specific development projects. It actively manages projects within this portfolio as a trading company and is not an investment vehicle. The ValiRx business model spreads the risks of life science technology developments by minimising financial exposure and running a set of projects to defined commercial endpoints. This maximises returns to shareholders by adding value at the earlier stages where value increases per investment unit are the greatest.

The Company operates through the following divisional companies:

1. ValiFinn is the biomarkers and diagnostic development division

2. ValiPharma is the therapeutics division with two embedded technologies primarily directed at

the treatment of cancers.

 

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