Allergy Thera. Regulatory News (AGY)

30 March 2015

Allergy Therapeutics plc

("Allergy Therapeutics" or the "Company")

Result of General Meeting and Issue of Equity

On 10 March 2015, Allergy Therapeutics, the fully integrated specialty pharmaceutical company specialising in allergy vaccines, announced plans to raise £20.0 million (after expenses) through the issue of 94,117,650 new ordinary shares in the capital of the Company (the "Placing Shares") at 22.1 pence per share (the "Placing"). The Placing is conditional upon, among other things, shareholder approval and admission of the Placing Shares to trading on AIM becoming effective. The Company is pleased to announce that, at a general meeting of its shareholders today, the resolutions required to authorise the issue of the Placing Shares and the disapplication of statutory pre-emption rights in relation thereto were passed. The Placing Shares will be allotted and issued credited as fully paid and will be identical to and rank parri passu in all respects with the existing ordinary shares in the capital of the Company ("Ordinary Shares").

The 4,042,489 convertible loan notes which were issued pursuant to a convertible loan note instrument executed by the Company on 30 March 2012, as amended, and which are held by CFR International SpA (as detailed in a circular published by the Company on 30 March 20121) will be converted into 41,674,938 new Ordinary Shares (the "Conversion Shares") at 9.7 pence per share on 31 March 2015 in accordance with their terms. The Conversion Shares will be allotted and issued conditional upon their admission to trading on AIM becoming effective, credited as fully paid and will be identical to and rank parri passu in all respects with the existing Ordinary Shares.

An application has been made to the London Stock Exchange plc for the Placing Shares and the Conversion Shares to be admitted to trading on AIM and it is expected that admission will become effective in respect of, and that dealings on AIM will commence in, the Placing Shares and the Conversion Shares at 8.00 a.m. on 1 April 2015.

Allergy Therapeutics' enlarged issued ordinary share capital immediately following the admission of the Placing Shares and the Conversion Shares will consist of 545,847,919 Ordinary Shares with voting rights attached (one vote per Ordinary Share). The Company has no shares in Treasury; therefore the total number of voting rights in Allergy Therapeutics is 545,847,919. This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

1 The 2012 Circular is available to view on the Company's website.

The distribution of this announcement in jurisdictions other than the United Kingdom may be restricted by law and therefore persons into whose possession this document and/or accompanying documents come should inform themselves about and observe any such restrictions. Any failure to comply with any such restrictions may constitute a violation of the securities laws or regulations of such jurisdictions. In particular, subject to certain exceptions, this announcement should not be distributed, forwarded to or transmitted in or into the United States (as defined in Regulation S of the United States Securities Act of 1933, as amended ("Regulation S") or Australia, Canada, Japan, the Republic of South Africa and New Zealand (the "Excluded Jurisdictions"). None of the Placing Shares have been, nor will they be, registered in the United States under the United States Securities Act of 1933 (the "Securities Act''), as amended, or under the securities laws of any of the Excluded Jurisdictions and, subject to certain exceptions, they may not be offered or sold directly or indirectly within or into the Excluded Jurisdictions or to, or for the account or benefit of, any national, citizen or resident of the Excluded Jurisdictions. Subject to certain exceptions, none of the Placing Shares may be offered or sold, directly or indirectly, in the United States or to, or for the account or benefit of, U.S. persons (as such terms are defined in Regulation S under the Securities Act). This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or subscribe for Placing Shares in any jurisdiction in which such offer or solicitation is unlawful.