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    Home » Midatech Pharma PLC Announces Posting of Circular and Notice of General Assembly
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    Midatech Pharma PLC Announces Posting of Circular and Notice of General Assembly

    paydayloansallonline_110na0By paydayloansallonline_110na0January 6, 2023No Comments7 Mins Read
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    About publication of circulars Bioasis Proposed Acquisition, US$9.6 Million Equity Raise, Name Change and Notice of Shareholders Meeting

    Abingdon, UK / Accesswire / 6 January 2023 / Midatech Pharma PLC (AIM:MTPH.L) (Nasdaq:MTP), a drug delivery technology company focused on improving the biodelivery and biodistribution of pharmaceuticals, announced on December 13 and December 19, 2022 In addition to the company’s announcement, a circular (“Circular”) and a shareholder meeting notice were posted to shareholders yesterday.

    The notice contains the following details: Above allthe Company’s proposed acquisition of Bioasis Technologies Inc. (“Bioasis”), a US$9.6 million equity raising, and a name change. Above all, approval by the shareholders at the shareholders’ meeting. Shareholders are encouraged to read the entire circular, including the risk factors described in Part 2.

    The General Assembly was convened at 10:00 am (GMT) on January 23, 2023 at the Company’s offices at 1 Caspian Point, Caspian Way, Cardiff CF10 4DQ. Although the Company holds its general meeting of shareholders in its office, there may be times when a shareholder does not wish to attend the general meeting of shareholders in person and instead wishes to be represented by the chairman of the general meeting of shareholders. Details on how to vote by proxy can be found in the Notice of General Meeting.

    These documents are also available in the “Investors” section of the Company’s website at https://www.midatechpharma.com/investors/shareholder-information.

    Shareholders should be aware that if the resolution is not approved at the shareholders’ meeting, the Proposal will not be made and no net proceeds from the private placement will be received by the Company. Should this occur, Midatech Group will only have sufficient working capital to conduct the transaction until around mid-March 2023, barring substantial licensing fees and/or additional funding.

    Therefore, if the Private Placement is not expected to be completed, the Company urgently needs another source of funding. There is no assurance that we will be able to find alternative sources of potential funding. This may or may not be on similar commercial terms and may not be obtained in a timely manner or at all. If we are unable to proceed with the private placement, we may not be able to continue to develop and commercialize our assets and may not continue as a going concern. If alternative potential sources of funding are not available, the Directors believe that the Company will likely be forced to administer.

    Existing shareholders are therefore encouraged to vote in favor of the proposal as it is intended for directors to do with respect to their shareholdings at the time of the shareholders’ meeting.

    Capitalized terms not defined in this announcement have the same meaning as defined in the Circular.

    This announcement contains internal information for the purposes of Article 7 of Market Abuse Regulation (EU) 596/2014. It forms part of UK national law under the European Union (Revocation) Act 2018 (Amendment).

    For more information, please contact:

    Midatec Pharma PLC
    Stephen Stamp, CEO, CFO
    Phone: +44 (0)29 2048 0180
    www.midatechpharma.com
    Strand Hanson Limited (Nominee Advisor)
    James Dance / Matthew Chandler / Rob Patrick
    Phone: +44 (0)20 7409 3494
    Turner Pope Investments (TPI) Ltd (broker)
    Andrew Thacker / James Pope (Corporate Broking)
    Phone: +44(0)20 3657 0050
    IFC Advisory Limited (Financial PR and UK Investor Relations)
    Tim Metcalfe / Graham Herring
    Phone: +44 (0)20 3934 6630
    Email: [email protected]
    Edison Group (U.S. Investor Relations)
    Alyssa Factor
    Phone: +1 (860) 573 9637
    Email: [email protected]

    About Midatech Pharma

    Midatech Pharma PLC (dually listed on LSE AIM: MTPH; and NASDAQ: MTP) is a research and development company focused on “Making Medicines Better” by improving drug delivery in the body. We combine existing medicines with proprietary and innovative drug delivery technologies to create compelling oncology and rare medicines that have the potential to have a powerful impact on the lives of patients being treated for life-threatening diseases. We offer disease products.

    The company has developed three in-house technology platforms, each with unique mechanisms to improve drug delivery to disease sites. All of the company’s technologies have been successfully used in clinical humans, providing significant validation of the potential of each platform.

    • Q-Sphera™ Platform: A disruptive microtechnology used for sustained release to extend and control the release of therapeutics over extended periods of time (weeks to months).
    • MidaSolve™ Platform: An innovative nanotechnology used to solubilize insoluble drugs so that they can be administered directly and locally to tumors in liquid form.
    • MidaCore™ Platform: Cutting-edge nanotechnology used to target drugs to disease sites.

    By improving the biodelivery and biodistribution of existing approved molecules, Midatech’s proprietary R&D enables better medicines, reduces technical risk, accelerates regulatory approval and market introduction, It has the potential to provide new patentable products. Due to the platform nature of the technology, it has the potential to develop multiple drug assets rather than relying on a limited number of programs.

    Midatech’s technology is supported by 36 patent families, including 120 granted patents and an additional 70 patent applications.

    Midatech’s headquarters and R&D facility are located in Cardiff, UK. For more information, please visit www.midatechpharma.com.

    Forward-Looking Statements

    Certain statements in this announcement may constitute “forward-looking statements” within the meaning of the UK and/or US Private Securities Litigation Reform Act. All statements contained in this announcement that do not relate to historical fact should be considered forward-looking statements.

    In some cases, forward-looking statements may involve the use of words such as “plans,” “expects,” “does not expect,” “believe,” or variations of such words or phrases, or specific actions, An event or outcome “could”, “could”, “could”, “could” or “taken”, “occurred” or “achieved” . Among other things, this news release contains forward-looking information regarding: Statements Concerning the Proposed Acquisition of Bioasis (the “Acquisition”) and Capital Increase. the combined company (including drug delivery technology and its progress toward approval and commercialization, market presence and financial status); timing of major acquisitions and equity raising milestones and closings. The ability of Midatech and Bioasis to meet the conditions and complete the acquisition and capital increase. Expectations regarding the impact of the acquisition on Midatech and Bioasis. Consequences of failing to approve a proposal at the General Assembly. Forward-looking statements and information are subject to various known and unknown risks and uncertainties. Many of which are beyond Midatech’s ability to control or predict and may cause actual results, performance or achievements to differ materially from those expressed or implied. It is made based on assumptions regarding such risks, uncertainties and other factors mentioned herein.

    In accordance with the London Stock Exchange AIM Rules for Business (“AIM Rules”), Disclosure and Transparency Rules (“DTR”), you should refer to documents filed by Midatech from time to time or announcements that Midatech may make. I have. ) and the rules and regulations promulgated by the U.S. Securities and Exchange Commission. It includes and identifies other important factors that could cause actual results to differ materially from those contained in any projections or forward-looking statements. These forward-looking statements speak only as of the date of this announcement. All subsequent written and oral forward-looking statements by or about Midatech are expressly qualified by the cautionary statement set forth above. Midatech undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the AIM Regulations or the DTR, or relevant UK or US law. I don’t owe you. occur.

    This information is provided by RNS, the news service of the London Stock Exchange. RNS is authorized by the Financial Conduct Authority to act as the UK’s leading information provider. Terms of use and distribution of this information may apply. Please contact us for more information. [email protected] Or visit www.rns.com.

    sauce: Midatec Pharma PLC



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