Motif Bio plc (AIM: MTFB) the clinical stage biopharmaceutical company specialising in developing novel antibiotics announces, that it has issued, in aggregate, 14,510,770 new ordinary shares in the Company (“Ordinary Shares”) following the conversion by Amphion Innovations plc and Amphion Innovations US Inc., (the “Amphion Parties”) of the Convertible Promissory Notes (“CPNs”). The CPNs which totalled US$3,550,786 were converted in accordance with their terms at US$0.2447 per share.
Following the conversion, the Amphion Parties will hold no further CPNs and their holding will total 43,240,645 ordinary shares being 22 per cent. of the Company.
Richard Morgan and Robert Bertoldi, Non-Executive Chairman and Executive Director of the Company respectively, are also directors of Amphion Innovations plc (the “Amphion Directors”). Amphion Innovations plc is therefore a “Person Closely Associated” with the Amphion Directors under the Market Abuse Regulation.
Application has been made for the 14,510,770 new Ordinary Shares to be admitted to trading on AIM (“Admission”), which is expected to occur at 8.00 a.m. on 29 December 2016. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares. Following Admission, and for the purposes of the Disclosure and Transparency Rules, the Company’s total issued share capital will consist of 195,741,528 Ordinary Shares. 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.
Motif Bio plc
Graham Lumsden, Chief Executive Officer
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