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LONDON (Alliance News) - ValiRx PLC shares dropped on Tuesday after the company said it has issued new shares to Bracknor after it converted GBP200,000 of its convertible loan notes into shares.
As a result, ValiRx has issued 2.7 million new shares in the company to Bracknor at 7.4 pence each, representing around 5.6% of ValiRx's enlarged issued share capital.
Bracknor has around GBP90,000 of convertible loan notes left to convert following the transaction.
ValiRx shares were down 9.2% to 8.40 pence per share on Tuesday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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