hVIVO #HVO – Result of Secondary Placing February 14, 2024 – Posted in: Blog, hVIVO (HVO) – Tags: , , , , , ,

hVIVO plc (AIM & Euronext: HVO), the world leader in testing infectious and respiratory disease products using human challenge clinical trials, announces that it has been informed by the Selling Shareholders that, further to the announcement made at 7 a.m. today (the “ABB Announcement”), they have successfully sold a total of 29,955,178 Placing Shares at a price of 28 pence per Placing Share. The Placing Shares in aggregate represent approximately 4.40 per cent. of the Company’s issued share capital.

Capitalised terms in this announcement shall have the same meaning ascribed to them as in the ABB Announcement unless the context requires otherwise.

On completion of the Placing the Selling Shareholders, shall have the following resultant shareholdings:

Resultant holding

Selling Shareholder

Shareholding immediately prior to the Placing

Number of Placing Shares sold

Ordinary Shares

% of Issued Share Capital

Cathal Friel (Chairman)1

47,097,086

25,937,909

21,159,177

3.11%

Brendan Buckley (Non-Executive Director)

8,034,539

4,017,269

4,017,270

0.59%

1.        Shares held by Cathal Friel are held through Raglan Road Capital Limited and Raglan Securities Limited, two companies owned and controlled by Cathal Friel, Pamela Iyer, Cathal Friel’s spouse, and Horizon Medical Technologies Limited, an investment vehicle controlled by Cathal Friel.

The Selling Shareholders have agreed with Cavendish and Peel Hunt not to dispose of any further Ordinary Shares for a period of 12 months without the prior written consent of Cavendish and Peel Hunt.

The notification at the end of this announcement, set out in accordance with the requirements of MAR (as defined above), provides further details of the transactions.

The Placing was conducted through an accelerated bookbuild by Cavendish Capital Markets Limited (“Cavendish”) and Peel Hunt LLP (“Peel Hunt”) acting as placing agents. Proceeds of the Placing are payable in cash on usual settlement terms and the Placing is expected to settle on or around 21 February 2024.

For further information please contact:

hVIVO plc

+44 (0) 20 7756 1300

Yamin ‘Mo’ Khan, Chief Executive Officer

Stephen Pinkerton, Chief Financial Officer

 

Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)

+44 (0) 20 7220 0500

Geoff Nash, Charlie Beeson, Nigel Birks, Harriet Ward

Peel Hunt LLP (Joint Broker)

+44 (0)20 7418 8900

James Steel, Jock Maxwell Macdonald, Nicolas Wilks

Davy (Euronext Growth Adviser and Joint Broker)

+353 (0) 1 679 6363

Anthony Farrell, Niall Gilchrist

Walbrook PR (Financial PR & IR)

Stephanie Cuthbert / Phillip Marriage /
Louis Ashe-Jepson

+44 (0) 20 7933 8780 or hvivo@walbrookpr.com

+44 (0) 7796 794 663 / +44 (0) 7867 984 082 /
+44 (0) 7747 515 393

 

Notes to Editors

About hVIVO

hVIVO plc (ticker: HVO) (formerly Open Orphan plc) is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and therapeutics using human challenge clinical trials. The Group provides end-to-end early clinical development services to its large, established and growing repeat client base, which includes four of the top 10 largest global biopharma companies.

The Group’s fast-growing services business includes a unique portfolio of 11 human challenge models, with a number of new models under development, to test a broad range of infectious and respiratory disease products. The Company has world class challenge agent manufacturing, specialist drug development and clinical consultancy services via its Venn Life Sciences brand, and a lab offering via its hLAB brand, which includes virology, immunology biomarker and molecular testing. The Group offers additional clinical field trial services such as patient recruitment and clinical trial site services.

hVIVO runs challenge studies in London from its Whitechapel quarantine clinic, its state-of-the-art QMB clinic with its highly specialised on-site virology and immunology laboratory, and its clinic in Plumbers Row. To recruit volunteers / patients for its studies, the Company leverages its unique clinical trial recruitment capability via its FluCamp volunteer screening facilities in London and Manchester.