London - ValiRx Plc (AIM: VAL), the clinical stage biotechnology company announces an application of a block listing of securities to facilitate the potential exercise of warrants; a summary of the terms of Fundraise Warrants in relation to the Conditional Fundraise announcement made by the Company on 4 May 2020 and an update in respect of the Company's clinical programmes.

Block Listing Application

Application has been made to the London Stock Exchange for the block listing of securities in respect of 9,034,732 ordinary shares of 0.1 pence each ('New Ordinary Shares') to be admitted to trading on AIM.

The block listing application relates to 9,034,732 ordinary shares of 0.1 pence each to be issued from time to time in order to satisfy the potential exercise of the Fundraise Warrants granted by the Company in relation to the Conditional Fundraise announced on 4 May 2020 ('ValiRx plc Fundraise Warrants May 2020').

It is expected that admission will become effective on or around 24 August 2020.

When issued, the New Ordinary Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 0.1 pence each in the capital of the Company ('Ordinary Shares').

As at today, there are 54,062,373 Ordinary Shares in issue with one voting right per share. The Company does not hold any shares in treasury. The Company will make six-monthly announcements of the utilisation of the block admission, in line with its obligations under AIM Rule 29 and monthly announcements as to any changes to total voting rights.

Summary of Fundraise Warrant terms

The Company announced on 4 May 2020 it had undertaken a Fundraise with a warrant attached ('Fundraise Warrant') allowing the holder of a Fundraise Share to subscribe for an additional ordinary share in the Company for every two Fundraise Shares held at an exercise price of 13 pence per share.

The Company may serve notice (the 'Notice') on the Fundraise Warrant holder to exercise their Fundraise Warrant in the event that closing mid-market share price of the Company exceeds 15p over a 5-consecutive day period within 12 months of the date of the Fundraise Shares are admitted to trading on AIM ('Notice Event'). In the event the Company serves Notice, any Fundraise Warrants remaining unexercised following the expiry of the length of the period of the Notice will be cancelled.

The Company will notify Fundraise Warrant holders of a Notice Event both in writing and by regulatory notification. Failure to exercise the Fundraise Warrants within the time limit prescribed in the Notice following the Notice Event will result in the cancellation of the Fundraise Warrants that remain unexercised.

As at the date of this notification the Fundraise Warrants remain capable of being exercised at 13p in accordance with the terms of the Warrant Instrument and associated Certificate.

Contact:

Suzanne Dilly

Tel: +44 (0) 20 7073 2628

Email: Suzanne.Dilly@valirx.com

Web: www.valirx.com

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