Nuformix plc (LON:NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, has announced a subscription to raise gross proceeds of £150,000 through a subscription for 75,000,000 new ordinary shares of 0.1 pence in the capital of the Company at a price of 0.20 pence per share. The New Ordinary Shares will represent approximately 9.2 per cent. of the Company’s enlarged issued share capital and are being issued pursuant to the Company’s existing share issuance authorities.
The net proceeds of the Subscription will be used by the Company primarily to further advance its NXP002 programme for the inhaled treatment of idiopathic pulmonary fibrosis (IPF).
Commenting, Dr Dan Gooding, Executive Director of Nuformix, said: “The funds raised through the Subscription will support the Company as we focus on discussions with potential licensees and the overall progression of the NXP002 programme to improve the treatment of IPF via inhalation. I look forward to providing further updates in due course.”
Admission and Total Voting Rights
Application will be made for the 75,000,000 New Ordinary Shares to be admitted to the Official List of the FCA and to trading on the Main Market of the London Stock Exchange (“Admission”). It is expected that Admission will become effective and that unconditional dealings will commence on the London Stock Exchange at 8.00 a.m. on 6 March 2024.
Following Admission of the New Ordinary Shares, the total number of Ordinary Shares in issue will be 819,309.368, each with one voting right. Nuformix does not hold any rights in treasury. The total voting rights figure is therefore 819,309,368 and can be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change of their interest in, the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
