Early Completion of Equity Swap Agreement

RNS Number : 8148T

ValiRx PLC

08 October 2014

 



8 October 2014

ValiRx Plc

('ValiRx' or the 'Company')

Early Completion of Equity Swap Agreement between YA Global Master SPV. Ltd. ("Yorkville") and ValiRx Plc dated 24 December 2013

ValiRx Plc (AIM: VAL), a life science company with a focus on cancer diagnostics and therapeutics for personalised medicine announces that the equity swap Agreement with YA Global Masters SPV Ltd ("Yorkville"), details of which were announced on 27 December 2013, has been exercised in full by agreement between the parties.

"Yorkville" has committed to sell 206,500,000 of its ordinary shares in the Company through ValiRx's broker Daniel Stewart & Company Plc. This has now been completed and Yorkville is fulfilling its outstanding commitment under the terms of the Agreement to the Company.

Yorkville retains an interest over 86,662,392 ValiRx shares which are held outside the terms of the Swap agreement.

ValiRx's CEO, Satu Vainikka, said "We appreciate Yorkville's flexibility and support to the Company over the last year with respect to the management of working capital during this exciting period in ValiRx's development."

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For more information, please contact:

ValiRx Plc                                                                       Tel: [phone]

Dr Satu Vainikka                                                                www.ValiRx.com

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

Liam Murray / Avi Robinson                                                

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

Mark Treharne                                                                    

Peckwater PR                                                                  Tel: [phone]

Tarquin Edwards                                                               [e-mail]

 

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