Conversion of Convertible Security – L1 Capital Global Opportunities Master Fund
3rd September 2020 - 10:57 amImmuPharma plc (LSE:IMM) (Euronext Growth Brussels: ALIMM), the specialist drug discovery and development company, announces that L1 Capital Global Opportunities Master Fund (“L1”) has converted $150,000 (plus accrued but unpaid interest) of the convertible security issued pursuant to the convertible security deed dated 10 June 2020, details of which were announced by the Company on 11 June 2020. The conversion price is 11p per share resulting in the issue by the Company of 1,045,046 new ordinary shares of 10p each in the Company (“New Ordinary Shares”).
New Ordinary Shares and Admission
The New Ordinary Shares will be issued credited as fully paid and will rank pari passu in all respects with the Company’s existing issued ordinary shares.
An application will be made for the New ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange (“AIM”) and Euronext Growth Brussels (“Admission”). It is anticipated that Admission to AIM will occur at 8.00am on or around 8 September 2020.
The New Ordinary Shares represent 0.43% of the Company’s enlarged issued share capital.
Total Shares in Issue
For the purposes of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority (“DTR”), the Board of ImmuPharma hereby notifies the market that following Admission, the Company’s total issued share capital will consist of 243,829,117 Ordinary Shares with a nominal value of 10p each.
This figure may be used by Shareholders as the denominator for the calculations by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the DTR.
The allotment of the New Ordinary Shares is being made pursuant to existing authorities to allot shares and other relevant securities and to disapply pre-emption rights under section 551 of the Companies Act 2006, which the Directors were given at the Company’s Annual General Meeting held on 18 June 2020.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (“MAR”). In addition, market soundings (as defined in MAR) were taken in respect of the Subscription with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this Announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.