Update Re: Block Listing Application

15th April 2020

London / New York 15 April 2020 – Tiziana Life Sciences plc (Nasdaq: TLSA / AIM: TILS) (the “Company” or “Tiziana”), the U.S. and U.K. biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology, announces further to the announcement made today regarding the Block Listing Application and “At The Market” Sales Agreement, an updated application has been made to AIM for a block admission in respect of 30,664,236 new ordinary shares of 3 pence each in the share capital of the Company (representing up to 20 per cent of the issued share capital) as opposed to 38,631,579 new ordinary shares, as mentioned in the previous announcement.

The new ordinary shares will rank pari passu with the existing ordinary shares in issue. It is expected that the block admission will become effective on or around 20 April 2020.

The shares being reserved under this block listing will be issued with the intention to satisfy the “At the Market” or “ATM” Sales Agreement with Think Equity (a division of Fordham Financial Management, Inc.) to raise up to US$20m from the sale of ADSs (each representing 5 new ordinary shares) pursuant to the following scheme:


Scheme Name


US ADSs ATM Placing Scheme

Think Equity, acting as sales agent, may affect sales for the benefit of the Company should the Company elect to initiate a transaction or transactions, dependent on market conditions and such other terms as the Company may specify. It is possible, and indeed likely, that multiple transactions could be affected under the ATM Sales Agreement over time. The ATM Sales Agreement is not a formal placing and any potential sales of new ordinary shares are not underwritten by the sales agent.

These new ordinary shares will be issued and allotted from time to time to settle any sales of ADSs conducted under the ATM Sales Agreement.

Following admission, the Company’s issued share capital remains unchanged at 153,741,181. The Company will make six-monthly announcements of the utilisation of the Block Admission, in line with its obligations under AIM Rule 29 and monthly announcements as to any changes to total voting rights.

About Tiziana Life Sciences plc

Tiziana Life Sciences is a UK biotechnology company that focuses on the discovery and development of novel molecules to treat human disease in oncology and immunology. We believe Foralumab is the only fully human anti-CD3 mAb in clinical development in the world. This compound has potential application in a wide range of autoimmune and inflammatory diseases, such as NASH, primary biliary cholangitis (PBS), ulcerative colitis, MS, type-1 diabetes (T1D), inflammatory bowel disease (IBD), psoriasis and rheumatoid arthritis, where modulation of a T-cell response is desirable.

For further enquiries:

Tiziana Life Sciences plc

Gabriele Cerrone, Chairman and founder

+44 (0)20 7495 2379

Cairn Financial Advisers LLP (Nominated adviser)

Liam Murray / Jo Turner

+44 (0)20 7213 0883