Exercise of Warrants & Issue of Ordinary Shares and Total Voting Rights

Rhea-AI Summary

Amryt (Nasdaq: AMYT) announced the exercise of warrants for 283,389 Ordinary Shares on March 11, 2021. This issuance follows the company's AIM Market listing in 2016, where each warrant allowed subscription at £1.44 per share. Post-issuance, Amryt's total Ordinary Shares are 183,593,296, with 4,508,314 held in treasury, resulting in total voting rights of 179,084,982. This number is crucial for shareholders to gauge their notification responsibilities under FCA regulations.

Exercise of Warrants & Issue of Ordinary Shares and Total Voting Rights

DUBLIN, Ireland, and Boston MA, March 11, 2021, Amryt (Nasdaq: AMYT, AIM: AMYT), a global, commercial-stage biopharmaceutical company dedicated to acquiring, developing and commercializing novel treatments for rare diseases, announces that subscription rights relating to warrants to acquire 283,389 Ordinary Shares (the “Warrants”) have been exercised. In order to satisfy the exercise of the Warrants, the Company on 11 March 2021 issued 283,389 ordinary shares of £0.06 each (“Ordinary Shares”) from treasury.

The Warrants were issued in connection with the listing of the Company on the AIM Market of the London Stock Exchange in 2016. Each warrant entitles the warrant holder to exercise subscription rights to subscribe for Ordinary Shares at a subscription price of £1.44 per Ordinary Share.

The issued share capital of the Company comprises 183,593,296 Ordinary Shares. Following the above transfer from treasury, the Company now holds 4,508,314 Ordinary Shares in treasury. Therefore, the total number of voting rights in the Company is 179,084,982. This figure may be used by shareholders as the denominator for the calculation 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 FCA’s Disclosure Guidance and Transparency Rules. 

About Amryt
Amryt is a global commercial-stage biopharmaceutical company focused on acquiring, developing and commercializing innovative treatments to help improve the lives of patients with rare and orphan diseases.  Amryt comprises a strong and growing portfolio of commercial and development assets.  

Amryt’s commercial business comprises two orphan disease products – metreleptin (Myalept®/ Myalepta®) and lomitapide (Juxtapid®/ Lojuxta®).

Myalept® / Myalepta® (metreleptin) is approved in the US (under the trade name Myalept®) as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy (GL) and in the EU (under the trade name Myalepta®) as an adjunct to diet for the treatment of leptin deficiency in patients with congenital or acquired GL in adults and children two years of age and above and familial or acquired partial lipodystrophy (PL) in adults and children 12 years of age and above for whom standard treatments have failed to achieve adequate metabolic control.  For additional information, please follow this link. 

Juxtapid®/ Lojuxta® (lomitapide) is approved as an adjunct to a low-fat diet and other lipid-lowering medicinal products for adults with the rare cholesterol disorder, Homozygous Familial Hypercholesterolaemia ("HoFH") in the US, Canada, Columbia, Argentina and Japan (under the trade name Juxtapid®) and in the EU, Israel and Brazil (under the trade name Lojuxta®).  For additional information, please follow this link.

Amryt's lead development candidate, Filsuvez® (Oleogel-S10) is a potential treatment for the cutaneous manifestations of Junctional and Dystrophic Epidermolysis Bullosa (“EB”), a rare and distressing genetic skin disorder affecting young children and adults for which there is currently no approved treatment.  Filsuvez® has been selected as the brand name for Oleogel-S10. The product does not currently have regulatory approval to treat EB.

Amryt’s pre-clinical gene therapy platform, AP103, offers a potential treatment for patients with Dystrophic EB, and is also potentially relevant to other genetic disorders. 

For more information on Amryt, including products, please visit www.amrytpharma.com.

The person making this notification on behalf of Amryt is Rory Nealon, CFO/COO and Company Secretary.

Financial Advisors

Shore Capital (Edward Mansfield, Daniel Bush, John More) are NOMAD and Joint Broker to Amryt in the UK. Stifel (Ben Maddison) are Joint Broker to the company in the UK.  Davy (John Frain, Daragh O’Reilly) act as Joint Broker to the company.

Forward-Looking Statements

This press release may contain forward-looking statements containing the words "expect", "anticipate", "intends", "plan", "estimate", "aim", "forecast", "project" and similar expressions (or their negative) identify certain of these forward-looking statements. The forward-looking statements in this announcement are based on numerous assumptions and Amryt's present and future business strategies and the environment in which Amryt expects to operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These statements are not guarantees of future performance or the ability to identify and consummate investments. Many of these risks and uncertainties relate to factors that are beyond each of Amryt's ability to control or estimate precisely, such as future market conditions, the course of the COVID-19 pandemic, currency fluctuations, the behaviour of other market participants, the outcome of clinical trials, the actions of regulators and other factors such as Amryt's ability to obtain financing, changes in the political, social and regulatory framework in which Amryt operates or in economic, technological or consumer trends or conditions. Past performance should not be taken as an indication or guarantee of future results, and no representation or warranty, express or implied, is made regarding future performance. No person is under any obligation to update or keep current the information contained in this announcement or to provide the recipient of it with access to any additional relevant information that may arise in connection with it. Such forward-looking statements reflect the Company’s current beliefs and assumptions and are based on information currently available to management.

Contacts

Joe Wiley, CEO / Rory Nealon, CFO/COO, +353 (1) 518 0200, ir@amrytpharma.com

Edward Mansfield, Shore Capital, NOMAD, +44 (0) 207 468 7906, edward.mansfield@shorecap.co.uk

Tim McCarthy, LifeSci Advisors, LLC, +1 (212) 915 2564, tim@lifesciadvisors.com

Amber Fennell, Consilium Strategic Communications, +44 (0) 203 709 5700, fennell@consilium-comms.com

FAQ

What are the details of the warrant exercise by Amryt on March 11, 2021?

On March 11, 2021, Amryt exercised warrants for 283,389 Ordinary Shares at a subscription price of £1.44 each.

How many total voting rights are there for Amryt after the warrant exercise?

After the exercise of the warrants, Amryt has a total of 179,084,982 voting rights.

What was the price per Ordinary Share for the exercised warrants by Amryt?

The subscription price for each Ordinary Share under the warrants was £1.44.

What is the significance of the total voting rights for Amryt's shareholders?

The total voting rights figure is used by shareholders to determine their notification requirements under FCA regulations.