Hemogenyx Pharmaceuticals PLC Announces Conversion of Convertible Loan Notes
Hemogenyx Pharmaceuticals announced the conversion of £900,000 in Convertible Loan Notes issued on February 3, 2021, into 29,850,746 new ordinary shares at a conversion price of £0.03015 each. Following the conversion, the company will have 524,193,766 ordinary shares in issue with voting rights. The admission of these new shares is expected on or around May 5, 2021. No immediate plans for further drawdowns from the facility have been indicated. This step is part of the company's ongoing efforts in developing treatments for blood and autoimmune diseases.
- Conversion of £900,000 in Convertible Loan Notes enhances liquidity.
- Issuance of 29,850,746 new shares increases market capitalization.
- Company has no immediate plans for further drawdowns, indicating financial prudence.
- None.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU AS IT FORMS PART OF LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Conversion of Convertible Loan Notes
LONDON, UK / ACCESSWIRE / April 26, 2021 / Hemogenyx Pharmaceuticals plc (LSE:HEMO) announces that it has received a conversion notice from Mint Capital Advisors Ltd in respect of £900,000 in principal amount of the Convertible Loan Notes issued by the Company on 3 February 2021.
Pursuant to the conversion, the Company will issue, in aggregate, 29,850,746 new ordinary shares of £0.01 each in the capital of the Company (the "New Ordinary Shares") at a conversion price of £0.03015 per Ordinary Share.
Application will be made to the Financial Conduct Authority and to the London Stock Exchange for the admission of the New Ordinary Shares to the standard segment of the Official List and to trading on the London Stock Exchange's main market for listed securities, respectively ("Admission"). It is expected that Admission will occur at 8.00 a.m. on or around 5 May 2021. The New Ordinary Shares will rank pari passu with the existing issued Ordinary Shares in the Company.
The Company does not have any immediate plans for further drawdowns from the Convertible Notes Facility.
Total Voting Rights
Following Admission of the New Ordinary Shares, the Company will have 524,193,766 Ordinary Shares of £0.01 each in issue with voting rights. The Company does not hold any shares in treasury. This figure may then be used by shareholders in the Company 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 share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Unless defined herein, or the context requires otherwise, capitalised terms used in this announcement carry the same meaning as those ascribed to them in the Company's announcement of 18 November 2020
The person responsible for arranging for the release of this announcement on behalf of the Company is Dr Vladislav Sandler, Chief Executive Officer & Co-Founder.
Enquiries:
Hemogenyx Pharmaceuticals plc | |
Dr Vladislav Sandler, Chief Executive Officer & Co-Founder | |
Peter Redmond, Director | |
SP Angel Corporate Finance LLP | Tel: +44 (0)20 3470 0470 |
Matthew Johnson, Vadim Alexandre, Adam Cowl | |
Peterhouse Capital Limited | Tel: +44 (0)20 7469 0930 |
Lucy Williams, Duncan Vasey, Charles Goodfellow | |
About Hemogenyx Pharmaceuticals plc
Hemogenyx Pharmaceuticals is a publicly traded company (LSE: HEMO) headquartered in London, with its US operating subsidiaries, Hemogenyx Pharmaceuticals LLC and Immugenyx LLC, located in New York City at its state-of-the-art research facility.
The Company is a pre-clinical stage biopharmaceutical group developing new medicines and treatments to treat blood and autoimmune disease and to bring the curative power of bone marrow transplantation to a greater number of patients suffering from otherwise incurable life-threatening diseases. Hemogenyx Pharmaceuticals is developing several distinct and complementary product candidates, as well as platform technologies that it uses as engines for novel product development.
For more than 50 years, bone marrow transplantation has been used to save the lives of patients suffering from blood diseases. The risks of toxicity and death that are associated with bone marrow transplantation, however, have meant that the procedure is restricted to use only as a last resort. The Company's technology has the potential to enable many more patients suffering from devastating blood diseases such as leukemia and lymphoma, as well as severe autoimmune diseases such as multiple sclerosis, aplastic anemia and systemic lupus erythematosus (Lupus), to benefit from bone marrow transplantation.
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.
SOURCE: Hemogenyx Pharmaceuticals PLC
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FAQ
What is the conversion price of the Convertible Loan Notes for Hemogenyx Pharmaceuticals?
How many new ordinary shares will Hemogenyx Pharmaceuticals issue?
When is the expected admission date for the new shares of Hemogenyx Pharmaceuticals?
What will be the total number of ordinary shares in issue after the conversion?
Are there any plans for further drawdowns from the Convertible Notes Facility by Hemogenyx Pharmaceuticals?
