Tiziana Announces temporary reduction to exercise prices of outstanding warrants

20 November 2018 | AIM:TILS

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR
THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

Tiziana Announces temporary reduction to exercise prices of outstanding warrants

London, 20 November 2018 – Tiziana Life Sciences plc (AIM: TILS) (the "Company" or "Tiziana"), a UK biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology, announced earlier today that it had priced its underwritten initial public offering in the United States (the “Offering”). The closing of the Offering is expected to occur on 23 November 2018, subject to customary closing conditions.

In light of these developments and to potentially reduce the number of warrants outstanding, the Company has resolved to allow the holders of its warrants to exercise at reduced exercise prices in the period commencing on the date of this announcement and ending on 30 November 2018.

The Company currently has the following outstanding warrants:

Class of Warrant

Current exercise price

Current expiry date

Reduced exercise price if exercised prior to 5pm on 30 November 2018

Class A

£1.05

31/12/2021

£0.75

Class C

£1.05

31/12/2021

£0.75

Class D

£1.05

31/12/2021

£0.75

Class E

£2.50

31/12/2021

£0.80

Class F

£2.50

31/12/2021

£0.80

Class G

£1.60

20/11/2022

£0.78

Class H

£1.60

11/12/2023

£0.78

Class I

£1.60

15/12/2023

£0.78

Class J

£1.60

15/01/2024

£0.78

Class K

£1.60

22/01/2024

£0.78

Class L

£1.00

05/03/2023

£0.75

Class M

£0.80

19/04/2023

£0.75

Special class

£1.60

15/01/2024

£0.78


All warrant holders will receive individual email notifications of this change in the next 24 hours. Should warrant holders decide not to take any action then the original terms, conditions and final exercise dates will remain unaltered in respect of any warrants not exercised prior to 5pm on 30 November 2018.

All ordinary shares issued as a result of warrant holders exercising warrants at the reduced exercise prices will be aggregated at the end of the exercise period and the Company will make an application to have the ordinary shares admitted to trading on AIM on 4 December 2018.

The person who arranged for the release of this announcement on behalf of the Company was Tiziano Lazzaretti, Chief Financial Officer of Tiziana.

For further enquiries:

Tiziana Life Sciences plc

Gabriele Cerrone, Chairman and founder 

+44 (0)20 7493 2853

 

Cairn Financial Advisers LLP (Nominated adviser)

Liam Murray / Jo Turner 

+44 (0)20 7213 0883

Stockdale Securities Limited (Broker)

Andy Crossley / Antonio Bossi

+44 (0)20 7601 6125