hVIVO plc - Conditional Placing to raise £20.5 million 26 Nov 2015

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION IS PROHIBITED.
For immediate release 7.00 a.m: 26 November 2015
hVIVO PLC
('hVIVO' or 'the Company')
CONDITIONAL PLACING TO RAISE £20.5 MILLION
hVIVO plc (AIM: HVO), the pioneer of human challenge models of disease, announces today that it has raised, subject to certain conditions, £20.5 million (before expenses) by way of a placing of 9,111,111 new Ordinary Shares (the 'New Ordinary Shares') with existing institutional shareholders at a price of 225 pence per Ordinary Share.
The Placing Price is at a discount of 11.6 per cent. to the closing middle market price of 254.50 pence per Ordinary Share on 25 November 2015, the latest date prior to this Announcement.
The New Ordinary Shares will, upon Admission, rank pari passu in all respects with the Ordinary Shares in issue as at the date of this Announcement, including as regards the right to receive all dividends or other distributions declared, made or paid after Admission. The New Ordinary Shares will represent 11.7 per cent. of the Company's enlarged issued ordinary share capital immediately following completion of the Placing.
The net proceeds of the Placing are expected to be approximately £20.0 million and will be principally used by the Company to progress PrEP-001 to Phase IIb, commence the stratification of asthma and advance the flu pathomics outputs into product candidates.
A general meeting of the Company to approve the Placing will be held at the Group's registered office at Queen Mary BioEnterprises Innovation Centre, 42 New Road, London E1 2AX at 10.00 a.m. on 15 December 2015.
Kym Denny, Chief Executive Officer, commented: 'We are delighted at the response and immense support we have received from our shareholders to raise these funds. This has been a remarkable year, one where the growing recognition regarding the value of the hVIVO platform culminated in our PrEP Biopharm announcement and we gained access to an innovative Phase IIa compound, PrEP-001. It heralds a transformational time for our organisation as we build upon our achievements in asthma and flu.'
Further details of the Placing are below.
For further information please contact:

hVIVO plc
+44 207 756 1300
Kym Denny (Chief Executive Officer)
Graham Yeatman (Chief Financial & Business Officer)
Media Enquiries
+44 203 021 3933 / +44 7854 979 420
Colin Paterson (Director of Marketing, Communication and Public Relations)
Numis Securities Limited
+44 207 260 1000
Michael Meade / Freddie Barnfield (Nominated Adviser)
James Black / Michael Burke (Corporate Broking)

For full announcement, please click here.

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