ORPH.L Regulatory News (ORPH)

Announcement to be made by the Applicant prior to admission in accordance with the Euronext Growth Markets Rule Book

Company name

Open Orphan plc ("Open Orphan" or the "Company", and together with its subsidiaries the "Group")

Company registered address and if different, company trading address (including postcodes)

Registered Office:

PO Box W1J 6BD, Berkley Square House, 2nd Floor, Mayfair, London, W1J 8DJ

Trading Offices:

19 Railway Road, Dalkey, Dublin, Ireland

Queen Mary BioEnterprises (QMB) Innovation Centre, 42 New Road, London, E1 2AX

Country of incorporation

England and Wales

Company website address containing all information required by rule 26 (5.26) of the Euronext Growth Markets Rule Books

www.openorphan.com

Company business (including main country of operation) or, in the case of an investing company, details of its investing strategy. If the admission is sought as a result of a reverse takeover under rule 5.19 of the Euronext Growth Markets Rule Books, this should be stated

This is a reverse takeover under Rule 14.

Open Orphan is a Clinical Research Organisation that specialises in rare and orphan drugs. The headquarters are in Dublin, Ireland and the company also has offices in the UK, France, the Netherlands and Germany.

Details of securities to be admitted including any restrictions as to transfer of securities (i.e. where known, number of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Number of ordinary shares of 0.1 pence each in nominal value ("Ordinary Shares") for which Admission will be sought: 445,622,374

There are no restrictions as to the transferability of the Ordinary Shares and no Ordinary Shares will be held in treasury.

Capital to be raised on admission (if applicable) and anticipated market capitalisation on admission:

Expected Market Capitalisation: £29.6 million (based on an enlarged share capital of 445,622,374 and closing price per Open Orphan Shares of £[0.0665] on 15 January 2020)

No capital to be raised on admission

Percentage of Euronext Growth securities not in public hands on admission

22.8%

Details of any other exchange or trading platform to which the ex securities (or other securities of the company) are or will be admitted or traded:

AIM

Full names and functions of directors and proposed directors (underlining the first name by which each is known or including any other name by which each is known):

Directors:

Cathal Friel, Executive Chairman

Brendan Buckley, Non-executive Director

Proposed Directors:

Dr Trevor Phillips, Chief Executive Officer

Dr Mark Warne, Non-executive Director

Michael Meade, Non-executive Director

Full names and holdings of significant shareholders, expressed as a percentage of the issued share capital, before or after admission (underlining the first name by which each is known or including any other name by which each is known):

Before Admission:

After Admission:

Names of all persons to be disclosed in accordance with Chapter 5: Schedule Two, paragraph (h) of the Euronext Growth Markets Rule Book:

n/a

i anticipated accounting reference date: 31 December

ii date to which the main financial information in the admission document has been prepared: 31 December 2019

iii. dates by which it must publish its first three reports pursuant to Rules 5.14 and 5.15 in the Euronext Growth Markets Rule Book:

31 December 2019 due 30 June 2020, 30 June 2020 due September 2020, 31 December 2020 due 30 June 2021

Expected admission date: 20 January 2020

Name and address of Euronext Growth Advisor

Davy Corporate Finance, Davy House, 49 Dawson Street, Dublin 2, Ireland

Name and address of broker

Arden Partners plc., 125 Old Broad Street, London, EC2N 1AR

Other than in the case of a Quoted Applicant, details of where (postal or internet address) the admission document will be available from, with a statement that this will contain full details about the Applicant and the admission of its securities

A copy of the admission document containing full details about the applicant and the admission of its securities is available on the Company's website, www.openorphan.com

Date of notification

16 January 2020

New/update: Update