Issue of Equity for Employee Share Incentive Plan
Source: RNS
27 April 2022
Midatech Pharma PLC
("Midatech" or the "Company")
Issue of Equity for Midatech Employee Share Incentive Plan
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, conditional on admission to trading on AIM, it has issued and allotted 25,000 new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares"), which are to be purchased at nominal value by the Midatech Pharma Share Incentive Plan, an employee share incentive trust.
Application has been made for the 25,000 new Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will take place at 8.00 a.m. on or around 3 May 2022. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares.
Following Admission, the Company will have 98,493,413 Ordinary Shares in issue, none of which are held in treasury. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the issued share capital of the Company.
For more information, please contact:
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Midatech Pharma PLC |
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Stephen Stamp, CEO, CFO |
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Tel: +44 (0)29 2048 0180 |
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Strand Hanson Limited (Nominated and Financial Adviser) |
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James Dance / Matthew Chandler / Rob Patrick |
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Tel: +44 (0)20 7409 3494 |
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Turner Pope Investments (TPI) Limited (Broker) |
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Andrew Thacker / James Pope (Corporate Broking) Tel: +44(0)20 3657 0050 |
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IFC Advisory Limited (Financial PR and UK Investor Relations) |
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Tim Metcalfe / Graham Herring |
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Tel: +44 (0)20 3934 6630 |
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Edison Group (US Investor Relations) Alyssa Factor Tel: +1 (860) 573 9637 Email: afactor@edisongroup.com
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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 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: · Q-Sphera™ platform: a disruptive micro-technology used for sustained release to prolong and control the release of therapeutics over an extended period of time (from weeks to months). · MidaSolve™ platform: an innovative nanotechnology used to dissolve insoluble drugs so that they can be administered in liquid form directly and locally into tumours. · MidaCore™ platform: a leading edge nanotechnology used for targeting medications to sites of disease.
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 |
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