Cathal Friel of Poolbeg Pharma discusses results of the proposal to purchase shares from distribution in specie shareholders
Episode 685, Apr 27, 2022, 07:03 AM
Cathal Friel Chairman of Poolbeg Pharma #POLB discusses the results of the proposal to purchase shares from distribution in specie shareholders, with 97% deciding to remain invested in the company following the end of the lock-up period.
Cathal Friel Chairman of Poolbeg Pharma #POLB discusses the results of the proposal to purchase shares from distribution in specie shareholders, with 97% deciding to remain invested in the company following the end of the lock-up period.
Highlights
Poolbeg Pharma , a clinical stage infectious disease pharmaceutical company with a unique capital light clinical model, announces the results of the proposal from a number of New Investors to purchase shares from distribution in specie shareholders ahead of the end of the lock-up period.
As published via an RNS on 11 April 2022, the Company sourced a number of New Investors that offered to purchase up to £1.6m distribution in specie shares at a price of 5.9 pence being the closing price on 8 April 2022 (the last trading day prior to that announcement). The Company can now confirm that these proposals have been accepted by distribution in specie shareholders seeking to sell a total of £366k of Poolbeg shares, representing only 3% of the distribution in specie shares.
The vast majority, representing 97% of distribution in specie shareholders, have decided to remain invested in Poolbeg following the end of the lock-up period. Overall, the proposals have demonstrated strong shareholder confidence in the Company as it enters the exciting clinical phase of its development.