30 Jun 2016 12:47
Tiziana Life Sciences PLC
("Tiziana" or the "Company")
Result of Annual General Meeting ("AGM") and Issue of Equity
London, 30 June 2016 - Tiziana Life Sciences plc (AIM: TILS), a clinical stage biotechnology company focused on targeted drugs to treat diseases in oncology and immunology, announces that at the AGM held today, all resolutions proposed at the meeting were duly passed.
Pursuant to the terms of the deferred share buyback approved by Resolution 8 at the AGM, the Company has issued one ordinary share for cash and utilised the proceeds in buying back all of the outstanding deferred shares. The Company will now proceed to make an application to the High Court to approve the capital reduction approved by shareholders pursuant to Resolution 9 at the AGM.
Application has been made to the London Stock Exchange for the admission to trading of one new ordinary share. It is expected that admission will become effective on 5 July 2016.
Following this allotment, the issued ordinary share capital of the Company has increased to 94,393,401 ordinary shares of 3p each with voting rights, which 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 and Transparency Rules.
Contacts:
Tiziana Life Sciences plc Gabriele Cerrone, Chairman and founder
| +44 (0)20 7493 2853 |
Cairn Financial Advisers LLP (Nominated adviser) Liam Murray / Avi Robinson
| +44 (0)20 7148 7900 |
Beaufort Securities Limited (Broker) Saif Janjua
| +44 (0)20 7382 8300 |
FTI Consulting Simon Conway / Rob Winder / Natalie Garland-Collins | +44 (0)20 3727 1000 |
About Tiziana Life Sciences
Tiziana Life Sciences plc is a UK biotechnology company that focuses on the discovery and development of novel molecules that treat human disease in oncology and immunology.
The Company is focused on its lead compound, milciclib, a molecule which blocks the action of specific enzymes called cyclin-dependent kinases (CDK) involved in cell division as well as a number of other protein kinases. Milciclib is currently completing phase II clinical trials for thymic carcinoma in patients previously treated with chemotherapy and preparing and IND to enroll patients in an exploratory trial in Hepatic Cellular Carcinoma (HCC).
The Company is also in clinical development of foralumab. Foralumab is the only fully human engineered anti-human CD3 antibody in clinical development. This phase II compound has potential application in a wide range of autoimmune and inflammatory diseases, such as ulcerative colitis, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable.
Tiziana Life Sciences' clinical development teams are working on its Bcl-3 candidate; which has a prominent role in the metastasis of mammary cancers, and has elucidated the mechanism of Bcl-3 action to be a regulator of cancer cell motility and has also determined that Bcl-3 inhibition suppresses cell motility in triple-negative, HER-2-positive PR- and ER-positive breast cancer sub-types, suggesting that Bcl-3 may be a master regulator of this metastatic property not only in aggressive breast cancers, but across the clinical spectrum of breast disease. The Company is preparing the IND package with the intention of progressing to clinical trials this year.
For more information go to http://www.tizianalifesciences.com