Full Press Release Details
("Midatech" or the "Company")
Exercise of Warrants and Issue
Midatech Pharma PLC (AIM: MTPH.L; Nasdaq:
MTP), a drug delivery technology company focused on improving the bio-delivery and biodistribution of medicines, announces that
it has issued to certain US investors 500,000 American Depositary Shares ("ADSs"), representing 2,500,000 ordinary
shares of 0.1p each in the Company ("New Ordinary Shares"), in connection with the exercise of pre-existing warrants
by such investors at an exercise price of $2.05 per ADS. Each ADS represents five ordinary shares. The gross proceeds received
by the Company from the exercise of these warrants is $1,025,000.
Application has been made for admission of
2,500,000 New Ordinary Shares to trading on the AIM Market of the London Stock Exchange ("Admission"), which is expected
to become effective at 8.00am on or around 21 August 2020. The New Ordinary Shares will rank pari
passu with the existing ordinary shares.
The Company's issued share capital following the issue
of equity noted above, will comprise 63,048,852 Ordinary Shares each with voting rights. The Company does not hold any shares in
treasury. This figure of 63,048,852 may be used by shareholders in the Company as the denominator for the calculations by which
they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the
Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside
information for the purposes of Article 7 of EU Regulation 596/2014.
For more information, please
Stephen Stamp, CEO, CFO
Tel: +44 (0)1235 888300
Panmure Gordon (UK) Limited
(Nominated Adviser and Joint Broker)
Freddy Crossley, Emma Earl (Corporate
James Stearns (Corporate Broking)
Tel: +44 (0)20 7886 2500
Turner Pope Investments (TPI)
Limited (Joint Broker)
Andrew Thacker (Corporate Broking)
Tel: +44(0)20 3657 0050
IFC Advisory Limited
(Financial PR and UK Investor Relations)
Tim Metcalfe / Graham Herring
Tel: +44 (0)20 3934 6630
Edison Group (US Investor Relations)
Email: mpaul@edisongroup.com
About Midatech Pharma PLC
Midatech Pharma PLC (dual listed on LSE AIM: MTPH; and
NASDAQ: MTP) is an R&D company focused on Making Medicines Better' by improving delivery of drugs in the body. The
Company combines existing medications with its proprietary and innovative drug delivery technologies to provide compelling oncology
and rare disease products that have the potential to powerfully impact the lives of patients undergoing treatment for life threatening
The Company has developed three in-house technology platforms,
each with its own unique mechanism to improve delivery of medications to sites of disease. All of the Company's technologies
have successfully entered human use in the clinic, providing important validation of the potential for each platform:
By improving bio-delivery and biodistribution of approved
existing molecules, Midatech's unique R&D has the potential to make medicines better, lower technical risks, accelerate
regulatory approval and route to market, and provide newly patentable products. The platform nature of the technologies allows
the potential to develop multiple drug assets rather than being reliant on a limited number of programmes.
Midatech's technologies are supported by 36 patent
families including 120 granted patents and an additional 70 patent applications.
Midatech's headquarters and R&D facility is in Cardiff,
UK. For more information please visit www.midatechpharma.com
Forward-Looking Statements
Certain statements in this press release may constitute
"forward-looking statements" within the meaning of legislation in the United Kingdom and/or United States Private Securities
Litigation Reform Act. All statements contained in this press release that do not relate to matters of historical fact should be
considered forward-looking statements.
Reference should be made to those documents that Midatech
shall file from time to time or announcements that may be made by Midatech in accordance with the London Stock Exchange AIM Rules
for Companies ("AIM Rules"), the Disclosure and Transparency Rules ("DTRs") and the rules and regulations promulgated
by the US Securities and Exchange Commission, which contains and identifies other important factors that could cause actual results
to differ materially from those contained in any projections or forward-looking statements. These forward-looking statements speak
only as of the date of this announcement. All subsequent written and oral forward-looking statements by or concerning Midatech
are expressly qualified in their entirety by the cautionary statements above. Except as may be required under the AIM Rules or
the DTRs or by relevant law in the United Kingdom or the United States, Midatech does not undertake any obligation to publicly
update or revise any forward-looking statements because of new information, future events or otherwise arising.