Full Press Release Details
("Midatech" or the "Company")
Amendment to Relationship Agreement
Midatech Pharma PLC (AIM: MTPH.L; Nasdaq:
MTP), a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines announces that
China Medical System Holdings Ltd (0867.HK) ("CMS"), its concert parties and the Company have mutually agreed to amend
the relationship agreement entered into on 29 January 2019 ("Relationship Agreement").
Relationship Agreement governs the relationship between Midatech, CMS and various CMS affiliates ("CMS Concert Party").
Midatech and the CMS Concert Party have agreed to amend the Relationship Agreement to remove CMS' rights to appoint a director
and observer to the Board of Midatech. In addition, in the event that a vote at a general meeting or election is required, the
CMS Concert Party has agreed to vote their Ordinary Shares in the same manner and proportion as all other Ordinary Shares are voted
by shareholders other than the CMS Concert Party.
The Company remains in an "Offer Period"
as defined in the Takeover Code in relation to the previously announced Formal Sale Process that is underway as part of the Company's
For more information, please contact:
(UK) Limited (Nominated Adviser and Broker)
Emma Earl (Corporate Finance)
Markets, Inc. (M&A adviser)
Tel. +1 978 697 9753
Limited (Financial PR and UK Investor Relations)
Edison Group (US Investor Relations)
Joseph Green/ Laine Yonker
Tel: (646) 653-7030/ 7035
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 diseases.
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 biodelivery 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 headquarters and R&D facility
is in Cardiff, UK. For more information please visit www.midatechpharma.com
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, including, but not limited to, statements regarding
the development of products by CMS, any payments that may be received, the strategic review and formal sale process.
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