This Announcement contains Inside Information
Al l er gy Therapeu tics p lc
(" A l l ergy Ther apeut ics", the "Group" or the "C o mpany ")
Exercise of Warrants
Repayment of the Entire Balance under the Shareholder Facility
New Loan Facility through 2030
- Lenders exercise 1,375,000,000 warrants, providing aggregate proceeds of £55 million to the Company.
- Proceeds used to fully repay the principal and accrued interest under the Shareholder Facility.
- New £50 million uncommitted loan facility agreed with the Lenders, providing long-term financial flexibility through to 2030.
- Transaction further strengthens the balance sheet and demonstrates continued support from the Company's long-term shareholders.
29 October 2025 - Allergy Therapeutics plc (AIM: AGY), the fully integrated commercial biotechnology company specialising in allergy immunotherapy, today announces the exercise of existing shareholder warrants, the repayment of all of its shareholder debt and the establishment of a renewed funding facility, strengthening its balance sheet and financial flexibility as it continues to advance its portfolio of allergy immunotherapies.
Manuel Llobet, CEO of Allergy Therapeutics, said: "This transaction leaves Allergy Therapeutics with a strengthened balance sheet and renewed financial flexibility as we enter an important period for the Company. With the continued backing of our core investors, we can focus on near-term milestones such as the upcoming regulatory decision on Grass MATA MPL in Germany and ongoing progress with our peanut allergy vaccine programme. These are key opportunities to demonstrate the strength of our science and deliver long-term value for shareholders."
Proceeds from Exercise of Warrants and Repayment of the Entire Balance under the Shareholder Facility
As previously announced, pursuant to the terms of the facility agreement dated 6 April 2023 (as amended from time to time) with SkyGem Acquisition Limited ("SkyGem") and Southern Fox Investments Limited ("Southern Fox", and, together with SkyGem, the "Lenders") (the "Shareholder Facility"), the Company agreed to issue 25 warrants for every £1 drawn under the Shareholder Facility . The entire amount has been drawn down by the Company and a total of 1,375,000,000 warrants have now been issued to the Lenders .
The Company has received exercise notices from the Lenders in respect of the 1,375,000,000 warrants, which would generate aggregate proceeds of £55 million on exercise of those warrants . In satisfaction of the exercise price payable by the Lenders for the warrants, the Lenders have transferred the entire Shareholder Facility to the Company. As a result, all financial indebtedness owed to the Lenders under the Shareholder Facility has effectively been repaid.
As a result of the issuance of the warrants to the Lenders, the Company has also issued 1,180,207 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 Hayfin and the Company dated 15 October 2024.
Renewed Shareholder Facility
The Lenders have agreed to provide a new £50 million unsecured loan facility (the "Renewed Shareholder Facility") on an uncommitted basis. The Renewed Shareholder Facility is available to draw down from 29 October 2025 until 15 July 2030, with interest payable at 12 per cent. per annum and a repayment date of 15 October 2030. There are no warrants attached to the drawdown of the facility extended under the Renewed Shareholder Facility.
Admission and Total Voting Rights
Application has been made for the 1,375,000,000 new Ordinary Shares being issued to the Lenders following exercise of their warrants, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8:00 a.m. on 30 October 2025.
Following Admission, the Company's total issued and voting share capital will consist of 6,141,439,951 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. The total number of voting rights in the Company is therefore 6,141,439,951 .
The above figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Related Party Transaction
The Renewed Shareholder Facility is deemed to be a related party transaction pursuant to Rule 13 of the AIM Rules for Companies by virtue of ZQ Capital (together with its affiliates, SkyGem, ZQ Capital and Zheqing (Simon) Shen) and Southern Fox being substantial shareholders of the Company (within the meaning of the AIM Rules for Companies).
The Directors of the Company who are independent of the Renewed Shareholder Facility, being all of the Directors save for Zheqing (Simon) Shen and Anthony Parker consider, having consulted with its nominated adviser, Cavendish Capital Markets Limited, that the terms of the Renewed Shareholder Facility are fair and reasonable insofar as the Company's shareholders are concerned.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation. The person responsible for arranging for the release of this Announcement on behalf of the Company is Shaun Furlong, Chief Financial Officer.
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
About Allergy Therapeutics
Allergy Therapeutics is an international commercial biotechnology company, headquartered in the UK, focussed on the treatment and diagnosis of allergic disorders. 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, and subsequent exercise of warrants.
|
|
| c) |
Price(s) and volume(s) |
Exercise Price(s) |
Volume(s) |
| £0.04 (4 pence) per warrant |
128,281,250 (issue of warrants) |
||
| £0.04 (4 pence) per warrant |
432,500,000 (exercise of warrants) |
||
| d) |
Aggregated information · - Aggregated volume · - Price |
n/a |
|
| e) |
Date of the transaction |
27 October 2025 - issue of warrants |
|
| 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, and subsequent exercise of warrants.
|
|
| c) |
Price(s) and volume(s) |
Exercise Price(s) |
Volume(s) |
| £0.04 (4 pence) per warrant |
309,218,750 (issue of warrants) |
||
| £0.04 (4 pence) per warrant |
942,500,000 (exercise of warrants) |
||
| d) |
Aggregated information · - Aggregated volume · - Price |
n/a |
|
| e) |
Date of the transaction |
27 October 2025 - issue of warrants |
|
| f) |
Place of the transaction |
Outside a trading venue. |
|
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