RNS11 Jun 2021 10:19
Fri, 11th Jun 2021 07:00
RNS Number : 5656B
Open Orphan PLC
11 June 2021
11 June 2021
Open Orphan plc
("Open Orphan", the "Company")
Exercise of Warrants
Open Orphan plc (AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organisation (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials, has received notice of exercise of warrants by investors, who participated in the Venn loan note financing in December 2018, over 404,806 ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") at a price of 0.1 pence per share for 143,312 Ordinary Shares and at a price of 2.2 pence per share for 261,494 Ordinary Shares. The gross proceeds of this exercise received by the Company amount to £5,896.18.
Following this exercise, the warrants issued to investors in connection with the 2018 Venn loan note have been substantially exercised with only the Chairman's 657,285 warrants outstanding.
The total outstanding warrants over Ordinary Shares are as follows:
Number of Ordinary Shares
Exercise Price per share
Date awarded
Expiry Date
Beneficiary
232,696
0.1 pence
11 December 2018
10 December 2023
Venn loan note investor
424,589
2.2 pence
11 December 2018
10 December 2023
Venn loan note investor
1,607,142
5.6 pence
28 June 2019
27 June 2024
An advisor
The Company has made application for 404,806 new Ordinary Shares, to be issued and allotted as a result of the warrant exercise set out above, to be admitted to trading on AIM and Euronext Growth. Admission is expected to occur at 8.00 a.m. on 16 June 2021.
Total Voting Rights
Following the admission of the 404,806 new Ordinary Shares, the Company's total issued ordinary share capital will consist of 670,855,002 Ordinary Shares. This figure 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 Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Interested in becoming a volunteer?
hVIVO recruits many of its volunteers for its challenge study clinical trials through its dedicated volunteer recruitment website, www.flucamp.com. By volunteering to take part in one of our studies in a safe, controlled, clinical environment under expertly supervised conditions you are playing your part to further medical research and help increase the understanding of respiratory illnesses.
If you are interested in being contacted and provided with details about future COVID-19 human challenge study research, please leave your contact details at www.UKCovidChallenge.com.