Portfolio news 0

Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, is pleased to announce that further to the oversubscribed Placing which was announced by the Company on 9 October 2020, at the General Meeting held earlier today, each of the Resolutions were duly passed.

The Company is also pleased to announce that the Open Offer, which closed for receipt of applications at 11.00 a.m. on 27 October 2020 in accordance with its terms, has received valid acceptances and excess applications from Qualifying Shareholders in respect of a total of 2,975,335 Open Offer Shares. This represents approximately 89.0 per cent. of the 3,342,923 Open Offer Shares.

Accordingly, the Company has raised approximately £ 9.79 million in aggregate (before expenses) through the issue of 16,308,668 New Ordinary Shares pursuant to the Placing and Open Offer. Issue of the New Ordinary Shares remains conditional on Admission.

Applications have been made for  16,308,668 New Ordinary Shares to be admitted to trading on AIM. Admission of the New Ordinary Shares is expected at 8.00 a.m. on 29 October 2020. The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares.

Total Voting Rights

Following Admission of the New Ordinary Shares, the Company will have 138,325,386 Ordinary Shares in issue.  The Company does not currently hold any shares in treasury.  Therefore, the total number of voting rights in the Company following Admission will be 138,325,386. 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, under the FCA's Disclosure Guidance and Transparency Rules.

The capitalised terms used in this announcement have the same meanings as in the announcement published by the Company at 7.00 a.m. on 9 October 2020 unless otherwise stated.

 

For further information, please visit www.diurnal.co.uk or contact:

 

Diurnal Group plc	+44 (0)20 3727 1000
Martin Whitaker, Chief Executive Officer Richard Bungay, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated Adviser and Sole Broker)	+44 (0) 20 7886 2500
Corporate Finance: Freddy Crossley, Emma Earl Corporate Broking: Rupert Dearden
FTI Consulting (Investor Relations)	+44 (0)20 3727 1000
Simon Conway Victoria Foster Mitchell

Notes to Editors

About Diurnal Group plc

Founded in 2004, Diurnal is a UK-headquartered, European specialty pharma company developing high quality products for the global market for the life-long treatment of chronic endocrine conditions, including congenital adrenal hyperplasia, adrenal insufficiency and hypogonadism. Its expertise and innovative research activities focus on circadian-based endocrinology to yield novel product candidates in the rare and chronic endocrine disease arena.