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Allergy Therapeutics plc announced on 11 July 2025 the issue of 250,674,403 warrants. On 10 July 2025, 175,343,750 warrants were issued to SkyGem and 74,656,250 warrants to Southern Fox, both at an exercise price of 4 pence, following a £10 million loan drawdown on 1 May 2025. Additionally, 674,403 warrants were issued to Hayfin Healthcare Opportunities LuxCo S.a.r.l. at an exercise price of 0.1 pence.
| Date | 11 Jul 2025 |
| Time | 07:00:08 |
| Category | Director/PDMR dealings |
| ID | 6406Q |
Allergy Therapeutics plc
("Allergy Therapeutics" or the "Company")
Issue of 250,674,403 warrants
PDMR Dealings
11 July 2025 - Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy vaccines, announces that it has issued 250,674,403 warrants to subscribe for new ordinary shares in the Company.
As previously announced, pursuant to the terms of the £50 million loan facility under the facility agreement dated 6 April 2023 with SkyGem Acquistion Limited (an affiliate of ZQ Capital Management Limited) ("SkyGem") and Southern Fox Investments Limited ("Southern Fox"), as amended from time to time, ("the Amended Loan Facility") the Company is required to issue 25 warrants for every £1 drawn under the Amended Loan Facility at an exercise price of 4 pence per warrant and exercisable on or prior to 15 October 2030. The Company drew down £10 million under the Amended Loan Facility on 1 May 2025 and is therefore required to issue 175,343,750 warrants to SkyGem and 74,656,250 warrants to Southern Fox in accordance with the terms of the Amended Loan Facility.
As a result of the issuance of the warrants to SkyGem and Southern Fox, the Company is also required to issue 674,403 warrants with an exercise price of 0.1 pence per warrant to Hayfin Healthcare Opportunities LuxCo S.a.r.l., a fund advised by Hayfin Capital Management LLP ("Hayfin") pursuant to anti-dilution rights held by Hayfin under the terms of the warrants issued to Hayfin in connection with the senior secured loan facility entered into between it and the Company dated 15 October 2024.
Following the issue of the warrants as detailed above, the Company has the following warrants in issue:
|
Number of warrants |
Percentage (%) of enlarged share capital[1] |
Exercise price |
Date of expiry |
|
937,500,000
|
15.97 |
4.0 pence |
15 October 2030 |
|
132,278,019 |
2.25 |
0.1 pence |
15 October 2034 |
|
33,333,332 |
0.57 |
30 pence |
28 February 2028 |
For further information, please contact:
Allergy Therapeutics
Manuel Llobet, Chief Executive Officer
Shaun Furlong, Chief Financial Officer
+44 (0)1903 845 820
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
Geoff Nash /Giles Balleny/ Seamus Fricker
Nigel Birks - Life Science Specialist Sales
+44 (0)20 7220 0500
ICR Healthcare
Mary-Jane Elliott / David Daley / Davide Salvi
+44 (0)20 3709 5700
allergytherapeutics@icrhealthcare.com
Notes for editors:
About Allergy Therapeutics
Allergy Therapeutics is an international commercial biotechnology company, headquartered in the UK, focussed on the treatment and diagnosis of allergic disorders, including aluminium free immunotherapy vaccines that have the potential to cure disease. The Group sells proprietary and third-party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries. For more information, please see www.allergytherapeutics.com.
Notification and public disclosure of transactions by Director/persons discharging managerial responsibilities ("PDMR") and persons closely associated with them ("PCA")
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
Southern Fox Investments Limited
|
|
|
2 |
Reason for the notification |
|
|
|
a) |
Position/status |
Persons closely associated Mr. Anthony Parker, Non-Executive Director of Allergy Therapeutics Plc. |
|
|
b) |
Initial notification/Amendment |
Initial notification. |
|
|
3 |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
||
|
a) |
Name |
Allergy Therapeutics Plc |
|
|
b) |
LEI |
213800PQ7AHK7KGVOE23 |
|
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||
|
a) |
Description of the financial instrument, type of instrument
|
Warrant Instrument |
|
|
b) |
Nature of the transaction |
Issue of warrants representing subscription rights for ordinary shares of £0.001 each.
|
|
|
c) |
Price(s) and volume(s) |
Exercise Price(s) |
Volume(s) |
|
£0.04 (4 pence) per warrant |
74,656,250 |
||
|
|
|||
|
d) |
Aggregated information · - Aggregated volume · - Price |
n/a |
|
|
e) |
Date of the transaction |
10 July 2025 |
|
|
f) |
Place of the transaction |
Outside a trading venue. |
|
|
1 |
Details of the person discharging managerial responsibilities/person closely associated |
||
|
a) |
Name |
ZQ Capital Management Limited |
|
|
2 |
Reason for the notification |
|
|
|
a) |
Position/status |
Persons closely associated Mr. Zheqing Shen, Non-Executive Director of Allergy Therapeutics Plc. |
|
|
b) |
Initial notification/Amendment |
Initial notification. |
|
|
3 |
Details of the issuer, UK emission allowance market participant, auction platform or auctioneer |
||
|
a) |
Name |
Allergy Therapeutics Plc |
|
|
b) |
LEI |
213800PQ7AHK7KGVOE23 |
|
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
||
|
a) |
Description of the financial instrument, type of instrument
|
Warrant Instrument |
|
|
b) |
Nature of the transaction |
Issue of warrants representing subscription rights for ordinary shares of £0.001 each.
|
|
|
c) |
Price(s) and volume(s) |
Exercise Price(s) |
Volume(s) |
|
£0.04 (4 pence) per warrant |
175,343,750 |
||
|
|
|||
|
d) |
Aggregated information · - Aggregated volume · - Price |
n/a |
|
|
e) |
Date of the transaction |
10 July 2025 |
|
|
f) |
Place of the transaction |
Outside a trading venue. |
|
[1] As enlarged by the issue of ordinary shares on exercise of the warrants