8 May 2018 07:00
8 May 2018
AIM: AMYT
ESM: AYP
AMRYT PHARMA PLC
("Amryt" or the "Company")
Holdings in Company and Lock-in agreement
The Company was notified today that Raglan Road Capital Limited ("Raglan Road Capital"), a company in which Cathal Friel and his wife, Pamela Iyer, own, has today sold 8,380,000 ordinary shares of £0.01 each ("Ordinary Shares") at a price of 17 pence per Ordinary Share (the "Disposal"). As a result of the Disposal Raglan Road Capital Limited is interested, in aggregate, in 24,697,347 Ordinary Shares in the Company representing 8.99 per cent. of the Company's issued share capital.
Cathal Friel and Raglan Road Capital have both entered into a two year restriction on sale of their Ordinary Shares (the "Locked-in Parties"). The Locked-in Parties have entered into irrevocable undertakings that they will not (and will procure, insofar as they are able, that any of their associates will not) dispose of any interest in ordinary shares for a period of 12 months following the Disposal, save in certain very limited circumstances. The Locked-in Parties have each also undertaken that they will not (and will procure, insofar as they are able, that any of their associates will not) dispose of any interest in Ordinary Shares for a period of 12 months following the first anniversary of the Disposal unless such disposal is effected through Shore Capital Stockbrokers Limited ("Shore Capital"), to ensure an orderly market ("Orderly Market Period"). Any sale of Ordinary Shares during the Orderly Market Period will be in such a manner as Shore Capital may reasonably require with the view to the maintenance of an orderly market.
- Ends -
Enquires:
Amryt Pharma plc | +353 (1) 518 0200 |
Joe Wiley, CEO Rory Nealon, CFO/COO
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Shore Capital | +44 (0) 20 7408 4090 |
Nomad and Joint Broker |
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Edward Mansfield, Mark Percy, Daniel Bush
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Davy | +353 (1) 679 6363 |
ESM Adviser and Joint Broker |
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John Frain, Anthony Farrell
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Stifel | +44 (0) 20 7710 7600 |
Joint Broker |
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Jonathan Senior, Ben Maddison
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Consilium Strategic Communications | +44 (0) 20 3709 5700 |
Financial PR Adviser |
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Amber Fennell, Matthew Neal, Nicholas Brown |
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About Amryt Pharma plc
(www.amrytpharma.com)
Amryt Pharma is a specialty biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases.
The Company holds an exclusive licence to sell Lojuxta (lomitapide) for adults, across the European Economic Area, Middle East and North Africa, Switzerland, Turkey and Israel. Lojuxta is used to treat a rare life-threatening disease called Homozygous Familial Hypercholesterolaemia ("HoFH"). HoFH impairs the body's ability to remove LDL cholesterol ("bad" cholesterol) from the blood, which typically results in extremely high blood LDL cholesterol levels, leading to aggressive and premature narrowing and blocking of arterial blood vessels. If left untreated, heart attack or sudden death may occur in childhood or early adulthood.
Amryt's lead drug candidate, AP101, is currently in Phase III clinical trials as a potential treatment for Epidermolysis Bullosa ("EB"). EB is a rare and distressing genetic skin disorder, which causes exceptionally fragile skin. There is currently no approved treatment and the global market opportunity for EB is estimated to be in excess of EUR 1.3 billion.
Amryt has two earlier stage assets, AP102 and AP103. AP102 is focused on developing novel, next generation somatostatin analogue ("SSA") peptide medicines for patients with rare neuroendocrine diseases, where there is a high unmet medical need, including acromegaly and Cushing's disease. AP103 is an in-licensed new gene therapy platform, which has potential applicability across a range of genetic disorders, including for patients with a sub-type of EB, Recessive Dystrophic Epidermolysis Bullosa.