IIG Intuitive Investments Group Plc

TIDMIIG

RNS Number : 4860D

Intuitive Investments Group plc

29 June 2021

29 June 2021

Intuitive Investments Group plc

Investment in Midatech Pharma PLC

Intuitive Investments Group plc (AIM: IIG) ("IIG" or the "Company"), a closed-end investment company focussed on the life sciences sector, announces an investment of GBP99,750 to acquire 350,000 ordinary shares of Midatech Pharma PLC (" Midatech ") at a price of 28.5 pence per share (the "Investment"). The Investment is part of Midatech 's fundraising as announced by Midatech on 29 June 2021 (the "Fundraising").

Midatech ( dual listed on LSE AIM: MTPH; and NASDAQ: MTP) is a drug delivery technology company focussed on improving the bio-delivery and bio-distribution of medicines. The Company combines approved and development medications with its proprietary and innovative drug delivery technologies to provide compelling products that have the potential to powerfully impact the lives of patients. Midatech reported a net loss from continuing operations for the year ended 31 December 2020 of GBP22.2 million (which includes non-cash impairment charges of GBP12.4 million), and, as at 31 December 2020, had net assets of GBP6.7m. Further information can be found on Midatech on its website www.midatechpharma.com .

As part of the Fundraising, Robert Naylor, IIG's CEO, has personally invested GBP242,250. David Evans, IIG's Chairman, has a pre-existing interest of 400,000 warrants over Midatech's ordinary shares. Accordingly, David Evans nor Robert Naylor voted as members of the Investment Team approving the Investment.

For further information, please contact:

 
 Intuitive Investments Group plc                                            www.iigplc.com 
 David Evans, Executive Chairman                                           Via Walbrook PR 
  Robert Naylor, CEO 
 
 Strand Hanson Limited - Nominated 
  Adviser                                                             +44 (0) 20 7409 3494 
 James Dance / James Bellman 
 Turner Pope Investments (TPI) Ltd 
  - Broker                                                            +44 (0) 20 3657 0050 
 Andrew Thacker / James Pope 
 
 Walbrook PR Limited - Media & Investor    +44 (0)20 7933 8780 or intuitive@walbrookpr.com 
  Relations 
                                                        +44 (0)7502 558 258 / +44 (0) 7980 
 Sam Allen / Paul McManus                                                          541 893 
 

About Intuitive Investments Group plc

The Company is a recently established investing company, seeking to provide investors with exposure to a portfolio concentrating on fast growing and/or high potential Life Sciences businesses operating predominantly in the UK, continental Europe and the US, utilising the Board's experience and in particular that of the Chairman, David Evans, to seek to generate capital growth over the long term for shareholders.

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June 29, 2021 05:56 ET (09:56 GMT)

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