MGC Pharmaceuticals Limited Consolidation and New Fund Raising (0559S)

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RNS Number : 0559S

MGC Pharmaceuticals Limited

01 November 2023

MGC Pharmaceuticals Ltd.

Consolidation and New Fund Raising

1 November 2023

ASX, LSE: MXC

MGC Pharmaceuticals Ltd ('MGC Pharma' or 'the Company') would like to provide clarification on the Company's consolidation of capital and new fund raising. Capitalised terms in this announcement have the same meaning as given in the announcements made on 25 October 2023 and 1 November 2023 (the ' Announcements ') unless the context provides otherwise.

Further to the Announcements, the Company confirms that on completion of the Consolidation (anticipated to be finalised on 2 November 2023), the Company will have 4,430,491 Shares in issue, each with one voting right. Therefore, on 2 November 2023, the total number of Shares in issue and voting rights will be 4,430,491 and this figure may be used by shareholders 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 Company under the FCA ' s Disclosure Guidance and Transparency Rules. Following the completion of the Placement (anticipated to be finalised on 7 November 2023), the Company will have 35,430,491 ordinary shares in issue, each with one voting right. Therefore, the Company ' s total number of shares in issue and voting rights will be 35,430,491. The completion of the Placement is anticipated to be finalised on 7 November 2023 and this figure may be used by shareholders 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 Company under the FCA ' s Disclosure Guidance and Transparency Rules.

Furthermore, the Company would like to clarify that following the Consolidation and Placement, only 3,067,543 ordinary shares will be admitted to the Financial Conduct Authority's Official List and to trading on the Main Market of London Stock Exchange plc. The remaining 32,362,948 ordinary shares (post completion of the Placement) that are not being admitted to trading will be issued to the Australian market and trade on the Australian Stock Exchange. These remaining ordinary shares are anticipated to be admitted to the Financial Conduct Authority's Official List and to trading on the Main Market of London Stock Exchange plc in due course and in accordance with the applicable regulatory timeframe under the FCA Listing Rules.

- Ends-

Authorised for release by the Managing Director, for further information please contact:

 
 MGC Pharmaceuticals Ltd            MGC Pharmaceuticals Ltd 
  Roby Zomer                         Rowan Harland 
  CEO & Managing Director            Company Secretary 
  +61 8 6555 2950                    +61 8 6555 2950 
  info@mgcpharma.co.uk               info@mgcpharma.co.uk 
 UK IR/PR Advisers                  UK Brokers 
  IFC Advisory                       Oberon Capital 
  Graham Herring / Tim Metcalfe /    Aimee McCusker / Adam Pollock 
  Zach Cohen                         +44 203 179 5300 
  +44 203 934 6630                   aimeemccusker@oberoninvestments.com 
  mgcpharma@investor-focus.co.uk     adampollock@oberoninvestments.com

About MGC Pharma

MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a prominent European pharmaceutical company with a strong commitment to creating accessible and ethically produced cutting-edge medicines. Our approach combines in-house research with innovative technologies, all aimed at discovering and producing treatments for currently unmet medical conditions.

The company's founders and executives are distinguished figures in the global pharmaceutical industry. Our central business strategy revolves around the development and supply of innovative medicines, responding to the increasing demand in the medical markets of Europe, North America, and Australasia.

MGC Pharma maintains a robust development pipeline that addresses two prevalent medical conditions, with additional products currently in the developmental stages. We've established strategic partnerships with renowned institutions and academia, fostering the optimization of our medicines' development. These medicines are produced in our EU-GMP Certified manufacturing facilities, ensuring the highest quality standards.

With a growing patient base in key regions like the USA, UK, Australia, and Ireland, MGC Pharma has also built a global distribution network through a wide-reaching group of commercial partners. This extensive network places us in a prime position to supply the global market effectively.

Twitter: @MGC_Pharma

Facebook: @mgcpharmaceuticals

LinkedIn: MGC Pharmaceuticals Ltd.

Instagram: @mgc_pharma

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November 01, 2023 07:30 ET (11:30 GMT)

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