Open Orphan PLC Exercise of Investor Warrants and Issue of Shares (6457Z)
22 Septembre 2020 - 8:30AM
UK Regulatory
TIDMORPH
RNS Number : 6457Z
Open Orphan PLC
22 September 2020
22 September 2020
Open Orphan plc
("Open Orphan" or the "Company")
Exercise of Investor Warrants by Investor and Issue of
Shares
Total Voting Rights
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 a notice of exercise of warrants by an
investor who participated in the Venn loan note financing in
December 2018 over 269,866 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 95,539 Ordinary Shares and at a price of 2.2 pence
per share for 174,327 Ordinary Shares. The gross proceeds of this
exercise received by the Company amounts to GBP3,930.74.
Following the warrant exercise, the outstanding warrants over
Ordinary Shares are as follows:
Number of Exercise Date awarded Expiry Date Beneficiary
Ordinary Price per
Shares share
---------- ----------- ------------- ------------ ------------------------
166,666 30 pence 7 June 2011 6 June 2021 An advisor
853,711 0.1 pence 11 December 10 December Venn loan note investors
2018 2023
1,557,729 2.2 pence 11 December 10 December Venn loan note investors
2018 2023
1,607,142 5.6 pence 28 June 2019 27 June 2024 An advisor
The Company has made application for 269,866 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 25
September 2020.
Total Voting Rights
Following the admission of 269,866 new Ordinary Shares, the
Company's total issued ordinary share capital will consist of
665,879,696 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.
For further information please contact
Open Orphan plc +353 (0)1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser and +44 (0)20 7614
Joint Broker) 5900
John Llewellyn-Lloyd / Benjamin Cryer /
Dan Gee-Summons
+44 (0) 20 7220
finnCap plc (Joint Broker) 500
Geoff Nash / James Thompson/ Richard Chambers
Davy (Euronext Growth Adviser and Joint
Broker) +353 (0)1 679 6363
Anthony Farrell
+44 (0)20 3757
Camarco (Financial PR) 4980
Tom Huddart / Hugo Liddy
Notes to Editors - Open Orphan:
Open Orphan is a rapidly growing niche CRO pharmaceutical
services company which is a world leader in the testing of vaccines
and antivirals through the use of human challenge clinical trials.
Conducted from Europe's only 24-bedroom quarantine clinic with
onsite virology providing individually isolated rooms and connected
to our specialist laboratory facility. hVIVO's challenge studies
require healthy volunteers to take part, volunteers are recruited
through FluCamp, learn more at www.FluCamp.com . The hVIVO facility
offers highly specialised virology and immunology laboratory
services to support pre-clinical and clinical respiratory drug,
antiviral, and vaccine discovery and development. Reliable
laboratory analysis underpinned by scientific expertise is
essential when processing and analysing clinical samples. Robust
quality processes support our team of scientists in the delivery of
submission ready data.
The Company has a leading portfolio of 8 viral challenge study
models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 COPD
viral challenge models. As announced in early March, Open Orphan is
rapidly advancing a number of Coronavirus challenge study models
and expects to be helping many COVID-19 vaccine development
companies to test their vaccines. No other company in the world has
such a portfolio, with only two competitors globally having 1
challenge study model each. hVIVO also works with companies in the
UK and Ireland to provide COVID-19 testing to staff to protect
staff and customers from a workplace COVID-19 outbreak through its
COVID Clear offering.
Open Orphan comprises of two commercial specialist CRO services
businesses, hVIVO and Venn Life Sciences and is also building out a
valuable data platform business. hVIVO has built up one of the
world's largest databases of infectious disease progression data
and we are populating our Open Orphan Health Data platform with
this historical hVIVO data. In our clinical trials going forward,
we are also planning to collect data on volunteer's via wearables
during clinical trials. Therefore, Open Orphan's data, which may
yield valuable digital biomarkers, could be one of the more
sought-after datasets by many of the large wearables /smart watch
wearables providers around the world. 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 in January 2020. Venn is an integrated drug development
consultancy firm which offers CMC (chemistry, manufacturing and
controls), preclinical, Phase I & II clinical trials design and
execution. 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.
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