Open Orphan PLC Update on Placing (6596A)
23 Janvier 2020 - 8:00AM
UK Regulatory
TIDMORPH
RNS Number : 6596A
Open Orphan PLC
23 January 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF
SUCH JURISDICTION.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
ITSELF CONSTITUTE AN OFFER FOR SALE OR SUBSCRIPTION OF ANY
SECURITIES IN THE COMPANY.
Update on Placing
Open Orphan plc (ORPH), a rapidly growing specialist
pharmaceutical services company which has a focus on orphan drugs,
confirms that as previously announced it is currently undertaking
meetings with investors in connection with its proposed placing of
GBP5 million. While the Company hopes to complete the placing at,
or close to, the implied offer price of 6.3 pence per Ordinary
Share in line with the authorities granted by shareholders to raise
up to GBP10 million at the general meeting on 6 January 2020, there
can be no certainty as to the outcome of the placing until such
time as the placing is concluded.
Discussions with potential investors remain ongoing and a
detailed announcement will be made in due course.
ENDS
Enquiries:
Open Orphan plc Tel: +353 1 644 0007
Cathal Friel, Executive Chairman
Trevor Phillips, Chief Executive Officer Tel: +44 (0)20 7347
5350
Arden Partners (Nominated Adviser and Joint Broker) Tel: +44
(0)20 7614 5900
John Llewellyn-Lloyd / Ruari McGirr / Benjamin Cryer
Davy (Euronext Growth Adviser and Joint Broker) Tel: +353 (0)1
679 6363
Anthony Farrell (Corporate Finance)
Camarco (Financial PR) Tel: +44 (0)20 3757 4980
Tom Huddart / Dan Sherwen
Notes to Editors on Open Orphan:
Open Orphan is a rapidly growing European full pharmaceutical
services company with a focus on orphan drug and specialist
services, comprising two commercial specialist CRO services
businesses (Venn and hVIVO) and a developing early stage orphan
drug genomics data platform business capturing valuable genetic
data from patient populations with specific diseases with
designated orphan drug status and incorporating AI tools. In June
2019, Open Orphan acquired AIM-listed Venn Life Sciences Holdings
plc in a reverse take-over and in January 2020 it completed the
merger with hVIVO plc. Venn, as an integrated drug development
consultancy, offers CMC (chemistry, manufacturing and controls) ,
preclinical, phase I & II clinical trials design and execution
and hVIVO, as an industry leading services provider in viral
challenge studies and laboratory services, supports product
development for customers developing antivirals, vaccines and
respiratory therapeutics. The merger with hVIVO created a European
full pharma services company broadening the Company's customer base
and with complementary specialist CRO services, widened the range
of the Company's service offerings.
IMPORTANT NOTICE
This Announcement and the information contained herein is not
for release, publication or distribution, directly or indirectly,
in whole or in part, in or into or from any jurisdiction where to
do so would constitute a violation of the relevant laws of such
jurisdiction.
This Announcement is for information purposes only and does not
constitute or form part of any offer to sell, or any solicitation
of an offer to buy, securities in the Company.
No statement in this Announcement is intended to be a profit
forecast and no statement in this Announcement should be
interpreted to mean that earnings per share of the Company for the
current or future financial years would necessarily match or exceed
the historical published earnings per share of the Company.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
IOESESEDEESSEEF
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