Open Orphan – Exercise of Investor Warrants by Investors and Issue of Shares July 7, 2020 – Posted in: Open Orphan (ORPH) – Tags: , , ,

7 July 2020
 

Open Orphan plc

(“Open Orphan” or the “Company”)

Exercise of Investor Warrants by Investors and Issue of Shares

Open Orphan plc (ORPH), the rapidly growing specialist CRO pharmaceutical services company which is the world leader in the testing of vaccines and antivirals using human challenge study models, has received notices of exercise of warrants by investors who participated in the Venn loan note financing in December 2018 over 1,749,732 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 619,448 Ordinary Shares and at a price of 2.2 pence per share for 1,130,284 Ordinary Shares. The gross proceeds of this exercise received by the Company amounts to £25,485.72.

Following the warrant exercise, the outstanding warrants over Ordinary Shares are as follows:

Number of Ordinary Shares

Exercise Price per share

Date awarded

Expiry Date

Beneficiary

166,666

30 pence

7 June 2011

6 June 2021

An advisor

949,253

0.1 pence

11 December 2018

10 December 2023

Venn loan note investors

1,732,053

2.2 pence

11 December 2018

10 December 2023

Venn loan note investors

1,607,142

5.6 pence

28 June 2019

27 June 2024

An advisor


The Company has made application for 1,749,732 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 10 July 2020.

Total Voting Rights

Following the admission of 1,749,732 new Ordinary Shares, the Company’s total issued ordinary share capital will consist of 665,609,830 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.

 

ENDS

For further information please contact

 

Open Orphan plc

Cathal Friel, Executive Chairman

+353 (0)1 644 0007

Arden Partners plc (Nominated Adviser and Joint Broker)

+44 (0)20 7614 5900

John Llewellyn-Lloyd / Benjamin Cryer

finnCap Ltd (Joint Broker)

+44 (0)20 7220 0500

Geoff Nash / James Thompson / Richard Chambers

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0)1 679 6363

Anthony Farrell

Camarco (Financial PR)

+44 (0)20 3757 4980

Tom Huddart / Hugo Liddy