13 May, 2021

Retail Offer

e-therapeutics plc is pleased to announce a conditional offer for subscription via PrimaryBid (the "Retail Offer") of new ordinary shares of 0.1p each in the Company ("Retail Shares") at an issue price of 24 pence per new ordinary share (the "Issue Price"), being a discount of approximately 17 per cent to the closing mid-price of 28.8 pence per new ordinary share on 12 May 2021, being the latest practicable date prior to the time and date of this announcement.

The Company is also conducting a conditional placing and subscription of new ordinary shares at the Issue Price by way of a placing by SP Angel Corporate Finance LLP (the "Placing") and direct subscriptions with the Company by individual investors (the "Subscription"), as announced earlier today. The price payable by investors for shares in the Placing, as well as for shares in the Subscription, is equal to the Issue Price.

The Retail Offer, the Placing and the Subscription (together the "Fundraise") are conditional on, inter alia, shareholder approval being received at the Company's Annual General Meeting to be held on or around 16 June 2021. The new ordinary shares to be issued pursuant to the Fundraise will be admitted to trading on the AIM market of the London Stock Exchange ("Admission"). Admission is expected to take place at 8.00 a.m. on or around 17 June 2021. The Retail Offer will not be completed without the Placing and Subscription also being completed.

The Company will use the funds raised to facilitate a number of initiatives, with a focus on expanding its proprietary, disease-agnostic, drug discovery and development platform capabilities and asset pipeline, and in particular to:

  • Generate experimental hepatocyte specific proprietary data for the Company's in silico discovery engine;
  • Advance two to three RNAi therapeutic programmes through preclinical development;
  • Aim to complete a First in Human (FIH) clinical study for one RNAi asset to provide additional validation;
  • Further development of the Company's computational platform and general working capital including team expansion; and
  • Explore RNAi in other cell types.

Retail Offer

The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the Retail Offer by applying exclusively through the PrimaryBid mobile app available on the Apple App Store and Google Play.

The Retail Offer, via the PrimaryBid mobile app, will be open to individual and institutional investors from 4.50 p.m. to 9.00 p.m. on 13 May 2021. The Retail Offer may close early if it is oversubscribed.

Subscriptions under the Retail Offer will be considered by the Company on a pro rata basis, although preference to be given to the Company's existing shareholders, subject to conditions which are available to view on www.PrimaryBid.com and the PrimaryBid Mobile app.

The Company reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the Retail Offer without giving any reason for such rejection.

No commission is charged to investors on applications to participate in the Retail Offer made through PrimaryBid. It is vital to note that once an application for Retail Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.

For further information on PrimaryBid or the procedure for applications under the Retail Offer, visit www.PrimaryBid.com or email PrimaryBid at enquiries@primarybid.com. 

The Retail Shares will be issued free of all liens, charges and encumbrances and will, when issued and fully paid, rank pari passu in all respects with the Company's existing Ordinary Shares.

This Announcement should be read in its entirety. In particular, the information provided in the "Important Notices" section of this Announcement should be read and understood.