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29 Jun 2021 10:56
29 June 2021
Intuitive Investments Group plc
Investment in Midatech Pharma PLC
Intuitive Investments Group plc (AIM: IIG) ("IIG" or the "Company"), a closed-end investment company focussed on the life sciences sector, announces an investment of £99,750 to acquire 350,000 ordinary shares of Midatech Pharma PLC ("Midatech") at a price of 28.5 pence per share (the "Investment"). The Investment is part of Midatech's fundraising as announced by Midatech on 29 June 2021 (the "Fundraising").
Midatech (dual listed on LSE AIM: MTPH; and NASDAQ: MTP) is a drug delivery technology company focussed on improving the bio-delivery and bio-distribution of medicines. The Company combines approved and development medications with its proprietary and innovative drug delivery technologies to provide compelling products that have the potential to powerfully impact the lives of patients. Midatech reported a net loss from continuing operations for the year ended 31 December 2020 of £22.2 million (which includes non-cash impairment charges of £12.4 million), and, as at 31 December 2020, had net assets of £6.7m. Further information can be found on Midatech on its website www.midatechpharma.com.
As part of the Fundraising, Robert Naylor, IIG's CEO, has personally invested £242,250. David Evans, IIG's Chairman, has a pre-existing interest of 400,000 warrants over Midatech's ordinary shares. Accordingly, David Evans nor Robert Naylor voted as members of the Investment Team approving the Investment.
For further information, please contact:
Intuitive Investments Group plc | www.iigplc.com |
David Evans, Executive Chairman Robert Naylor, CEO | Via Walbrook PR |
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Strand Hanson Limited - Nominated Adviser | +44 (0) 20 7409 3494 |
James Dance / James Bellman
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Turner Pope Investments (TPI) Ltd - Broker | +44 (0) 20 3657 0050 |
Andrew Thacker / James Pope |
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Walbrook PR Limited - Media & Investor Relations | +44 (0)20 7933 8780 or intuitive@walbrookpr.com |
Sam Allen / Paul McManus | +44 (0)7502 558 258 / +44 (0) 7980 541 893 |
About Intuitive Investments Group plc
The Company is a recently established investing company, seeking to provide investors with exposure to a portfolio concentrating on fast growing and/or high potential Life Sciences businesses operating predominantly in the UK, continental Europe and the US, utilising the Board's experience and in particular that of the Chairman, David Evans, to seek to generate capital growth over the long term for shareholders.
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