23 Sep 2019 15:39
23 September 2019
Open Orphan Plc
("Open Orphan" or the "Company")
Exercise of Warrants and Issue of Shares
Open Orphan, a European-focussed, rare and orphan drug consulting services platform, announces that the Company has received notices of exercise of warrants over 539,654 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 191,051 ordinary shares and at a price of 2.2 pence per share for 348,603 ordinary shares. The gross proceeds of this exercise received by the Company amounts to £7,860.33.
Following the warrant exercise, the outstanding warrants over Ordinary Shares are as follows:
Number of Ordinary Shares | Exercise Price per share | Expiry Date |
166,666 | 30 pence | 6 June 2021 |
1,759,752 | 0.1 pence | 10 December 2023 |
3,210,940 | 2.2 pence | 10 December 2023 |
1,607,142 | 5.6 pence | 27 June 2024 |
Total Voting RightsThe Company has made application for 539,654 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 27 September 2019.
Following the admission of 539,654 new Ordinary Shares, the Company's total issued ordinary share capital will consist of 254,572,567 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.
Enquiries:
Open Orphan Plc Tel: +353 1 644 0007Cathal Friel, Chief Executive Officer
Arden Partners (Nominated Adviser and Joint Broker) Tel: +44 (0)20 7614 5900John Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer
Davy (Euronext Growth Adviser and Joint Broker) Tel: +353 (0)1 679 6363Anthony Farrell (Corporate Finance)
Camarco (Financial PR) Tel: +44 (0)20 3757 4980Tom Huddart / Billy Clegg / Daniel Sherwen
Notes to Editors:
Open Orphan plc is a European-focussed, rare and orphan drug consulting services platform. The Company consists of four elements: a European clinical research organisation and consultancy; an orphan drug services business; a Virtual Rep and Data Access Platform consisting of physicians and key opinion leaders; and a Health Data Platform to partner with Patient Advocacy Groups. The Company is targeting rapid growth in one of the fastest growing sectors in the global pharmaceutical industry targeting under-supplied treatment for life threatening or very serious diseases and rare disorders.