Tiziana Life Sciences plc: Early notification of proposed admission to the Official List and cancellation of trading on AIM
Tiziana Life Sciences plc announced its intention to apply for a standard listing of its ordinary shares on the Official List and admission to trading on the London Stock Exchange's main market. The directors believe this move will enhance the company's global profile, increase trading liquidity, and attract a broader base of investors. Importantly, the company will not issue new shares or raise capital through this listing. A formal notice regarding the cancellation of trading on the AIM market will follow, with expectations to publish a prospectus by late Q3 or early Q4 2020.
- The standard listing on the London Stock Exchange may increase global profile and trading liquidity.
- The company will not dilute existing shares by issuing new shares for this listing.
- Formal notice of intended cancellation of trading on AIM may lead to reduced trading volume and investor interest.
- Potential uncertainty associated with transitioning from AIM to the main market.
NEW YORK and LONDON, July 30, 2020 (GLOBE NEWSWIRE) -- Tiziana Life Sciences plc the dual listed (NASDAQ:TLSA & UK AIMS:TILS) today announces its intention to apply for admission to listing of its ordinary shares (the "Ordinary Shares") on the standard listing segment of the Official List of the Financial Conduct Authority (the "Official List") and admission to trading on the London Stock Exchange plc's (the "London Stock Exchange") main market (the "Main Market") for listed securities (together, "Admission").
The Company directors believe that a standard listing in conjunction with its NASDAQ dual listing will support the long-term strategy of the Company by providing the Company with a more appropriate platform for its growth as an international company. In addition, the Company directors believe that Admission will raise the Company's global profile, increase its trading liquidity and provide the Company with a greater range of potential investors for its ordinary shares.
Admission will be through an introduction of the existing Ordinary Shares. The Company will not be issuing new shares in conjunction with the proposed Admission or the publication of the related prospectus, and has no current intention to raise capital through the issue of new shares in the UK.
Pursuant to Rule 41 of the AIM Rules for Companies, the Company will, in due course, give formal notice of the intended cancellation of trading of its Ordinary Shares on the AIM market of the London Stock Exchange ("AIM").
It is expected that the Company will publish its prospectus in connection with Admission in late Q3 or early Q4 2020 and that the Ordinary Shares will be admitted to the Official List, commence trading on the Main Market and simultaneously trading will be cancelled on AIM (and at least 20 business days after the formal announcement under Rule 41 of the AIM Rules for Companies), subject to the receipt of the necessary approvals from the UK Listing Authority and the London Stock Exchange.
The Company's shares will continue to be registered with their existing ISIN number GB00BKWNZY55. The Company's ticker symbol in the UK will continue to be TILS. The prospectus will, when issued, be made available on the Company's website at www.tizianalifesciences.com.
About Tiziana Life Sciences
Tiziana Life Sciences plc is a dual listed (NASDAQ: TLSA & UK AIMS: TILS) biotechnology company that focuses on the discovery and development of novel molecules to treat human diseases in oncology, inflammation and infectious diseases. In addition to milciclib, the Company will be shortly initiating phase 2 studies with orally administered foralumab for Crohn's Disease and nasally administered foralumab for progressive multiple sclerosis. Foralumab is the only fully human anti-CD3 monoclonal antibody (mAb) in clinical development in the world. This phase II compound has potential application in a wide range of autoimmune and inflammatory diseases, such as Crohn's Disease, multiple sclerosis, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable. The company is accelerating development of anti-Interleukin 6 receptor (IL6R) mAb, a fully human monoclonal antibody for treatment of IL6-induced inflammation, especially for treatment of COVID-19 patients.
For further enquiries:
United Kingdom:
| Tiziana Life Sciences plc Gabriele Cerrone, Chairman and founder | +44 (0)20 7495 2379 |
| Cairn Financial Advisers LLP (Nominated adviser) Liam Murray / Jo Turner | +44 (0)20 7213 0880 |
| Optiva Securities Limited (Broker) Robert Emmet United States: Investors: Dave Gentry, CEO RedChip Companies Inc. 407-491-4498 dave@redchip.com | +44 (0)20 3981 4173 |
FAQ
What is Tiziana Life Sciences' intention regarding its shares?
Will Tiziana Life Sciences issue new shares for the London Stock Exchange listing?
When is the prospectus for Tiziana Life Sciences expected to be published?
What will happen to Tiziana Life Sciences' shares on the AIM market?
How does Tiziana plan to enhance its trading liquidity?
