8 Sep 2014 16:18
8 September 2014
Plethora Solutions Holdings PLC
("Plethora" or the "Company")
Issue of Equity
Plethora (AIM: PLE) announces that it has received a notice on behalf of Capital for Enterprise Fund A LP to convert £200,000 of the fund's holdings in convertible loan notes of the Company, at a conversion price of 2p per ordinary share, in accordance with the terms of the debt restructuring agreements announced on 18 March 2013. The liability to be converted inclusive of principal, redemption premium of 25% and accrued interest from 1 March 2013 is £292,652 giving rise to an issue of 14,632,600 new ordinary shares (the "Conversion Shares").
Application has been made for the Conversion Shares to be admitted to trading on the AIM Market of the London Stock Exchange ("Admission") at 8:00am on 15 September 2014.
Following Admission, the Company's enlarged issued ordinary share capital will comprise 429,907,178 ordinary shares with one voting right per share. The total number of voting rights in the Company will therefore be 429,907,178. The total of 429,907,178 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Enquiries:
Plethora Solutions Jamie Gibson, CEO Mike Wyllie, CSO Mike Collis, CFO
| Tel : +44(0) 20 3077 5400 |
Daniel Stewart (Nomad & Joint Broker) Emma Earl / Alex Brearley (Nomad) Martin Lampshire (Broker)
| Tel : +44(0) 20 7776 6550
|
Hybridan LLP (Joint Broker) Claire Louise Noyce William Lynne |
Tel: +44(0) 20 7947 4350 Tel: +44(0) 20 7947 4361
|
About Plethora:
Plethora is headquartered in the UK and is listed on the London Stock Exchange (AIM: PLE.L). Further information is available at www.plethorasolutions.co.uk
Plethora is focussed on seeking to launch PSD502 for the treatment of premature ejaculation.
About PSD502 & Premature Ejaculation:
PSD502 is a topical spray for the treatment of premature ejaculation containing lidocaine and prilocaine in a eutectic-like mixture. The Company anticipates launch in 2014.
Premature ejaculation is possibly the most common form of sexual dysfunction in men. Epidemiological studies conducted in the US and in Europe indicate a prevalence of 20 - 30% in men of all ages. There is currently no globally approved and effective pharmaceutical treatment for this condition.
In the absence of any widely approved pharmaceutical therapy with good patient acceptance, the premature ejaculation market offers significant potential for development and growth. An effective drug therapy for premature ejaculation may have a comparable commercial potential to the erectile dysfunction drugs.