OKYO Pharma Limited Announces Pricing for Initial Public Offering of ADS in the United States with Attendance of Directors

LONDON, May 17, 2022 (GLOBE NEWSWIRE) — OKYO Pharma Limited (Nasdaq: OKYO; LSE: OKYO) (“OKYO“or the”Company“), a life science company focused on the discovery and development of novel molecules to treat inflammatory dry eye disease (“DED”) and eye pain, is pleased to announce the price of the guaranteed IPO (the “Offer”) of its American Depositary Shares (“ads“) on the Nasdaq Capital Market. OKYO will issue 625,000 ADS (representing 40,625,000 new ordinary shares without par value (the “Ordinary actions“)) at a price of $4.00 per ADS, generating gross proceeds of approximately $2,500,000 (before deduction of subscription discount, commissions and offering costs). Each ADS offered represents 65 common shares In addition, OKYO has granted subscribers a 45-day option to purchase up to 93,750 additional ADSs on the same terms.All ADSs for sale under the Offering will be offered by the Company.

ThinkEquity LLC is acting as sole bookrunner for the Offering.

The Offering is expected to close on May 19, 2022, subject to customary closing conditions.

OKYO intends to use the net proceeds of this offering: (i) to advance OK-101 to the filing of an IND to process the DED; (ii) fund the initial Phase 2 clinical trial of OK-101 in DED patients; and (iii) for working capital and other general business purposes.

The 40,625,000 new ordinary shares underlying the ADS, together with an additional 10,000 new ordinary shares issued to a US investor (for an error in the calculation of residual interest on the Company’s old convertible notes) are expected to be admitted to trading on the standard segment of the Official List of the Financial Conduct Authority (“CIF“) and to trading on the main market for listed securities of the London Stock Exchange plc at 8:00 a.m. (BST) on 19 May 2022.

Gabriele Cerrone and Gary Jacob, both directors of the Company, are participating in the Offer for 37,500 and 12,500 ADS, respectively, for a total subscription of $200,000. Mr. Cerrone’s investment was made by Panetta Partners Limited, a company in which he has a beneficial interest.

A registration statement, including a prospectus, relating to these securities has been filed by OKYO and declared effective by the United States Securities and Exchange Commission (the “SECOND“) on May 16, 2022. Copies of the final prospectus, when available, may be obtained from ThinkEquity LLC, 17 State Street, 22nd Floor, New York, New York 10004, by telephone at (877) 436-3673 , by e-mail to prospectus@think-equity.com. Electronic copies of the final prospectus will also be available on the SEC’s website at http://www.sec.gov.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful before registration or qualification. under the securities laws of such state or territory.

Total voting rights

After the closing of the Offer, the total number of Ordinary Shares outstanding will be 1,415,040,468 and this number may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest or a change in their interest in the Company under the FCA’s disclosure guidelines and transparency rules.

For the purposes of UK MAR, the person who organized the publication of this information is Gary S. Jacob, Managing Director.


For more information, please contact:

OKYO Pharma Limited
Gary S. Jacob, General Manager

Gabriele Cerrone, Non-Executive Chairman

+44 (0)20 7495 2379
Think Equity LLC

Ramnarain Jaigobind

Priyanka Mahajan

(877) 436-3673
Companies RedChip Inc.

(Investor Relations)

David Gentry

+1 407-491-4498

Important Notices

For Readers in the European Economic Area (“EEA”)

In any EEA Member State, this announcement is directed and directed only to “accredited investors” of that EEA Member State within the meaning of Article 2(e) of Regulation (EU) 2017 /1129 (as amended) (the “EU Regulation Prospectus“). There will be no public offering of ADS in any EEA Member State.

For readers in the UK

In the UK, this announcement is directed and directed only to “accredited investors” in the UK within the meaning of Article 2(e) of the EU Prospectus Regulation, as it forms part of UK national law under the European Union (Withdrawal) Act 2018 (as amended). There will be no public offering of ADS in any EEA member state.

In addition, in the United Kingdom, this announcement, insofar as it constitutes an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000 (as amended) ( “FSMA“)) in relation to the securities which are the subject of the Offer or otherwise, is intended only for persons who (i) have professional experience in matters relating to investments falling within the scope of Article 19(5) of the Financial Services and Markets Code Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Ordered“), and/or (ii) which are high net worth companies (or persons to whom they may otherwise lawfully be communicated) falling within section 49(2)(a) to (d) of the Ordinance ( all such persons being together referred to as “persons concerned“) or otherwise in circumstances which have not resulted and will not result in an offer to the public of securities in the United Kingdom.

The ADSs offered under the Offer will only be accessible to the relevant persons and any invitation, offer or agreement to subscribe, purchase or acquire these ADSs will only be entered into with the relevant persons. Any person in the United Kingdom who is not a relevant person should not act or rely on this announcement or any of its contents. This announcement does not contain an offer or constitute part of an offer to the public within the meaning of Articles 85 and 102B of the FSMA or otherwise.

Forward-looking statements

Certain statements made in this announcement are forward-looking statements, including with respect to the creation of a trading market for ADSs representing common stock in the United States. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections regarding its industry; his beliefs; and assumptions. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the Company’s control, are difficult to predict and could cause actual results differ materially from those expressed or anticipated. in forward-looking statements, including market conditions, whether the proposed offering is completed and the satisfaction of customary closing conditions relating to the proposed offering. The Company cautions securityholders and potential securityholders not to place undue reliance on these forward-looking statements, which reflect the Company’s views only as of the date of this announcement. Forward-looking statements made in this announcement relate only to events as of the date the statements are made. The Company undertakes no obligation to publicly release revisions or updates to these forward-looking statements to reflect unforeseen events, circumstances or developments occurring after the date of this announcement, except as required by law or any applicable regulatory authority. ‘required.

The information presented below is provided in accordance with Article 19(3) of EU Regulation 596/2014.

1. Contact details of PDMR / person closely related
a) name (i) Gabrielle Cerrone

(ii) Gary Jacob

2. Reason for notification
a) Position / status (i) President

(ii) Chief Executive Officer

b) Initial Notification/Amendment Initial notification
3. Issuer Details
a) name OKYO Pharma Limited
b) LEI 213800VVN5CB56Y15A05
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 location where transactions were conducted
a) Description of the financial instrument ADS representing 65 Ordinary Shares without par value
b) Financial Instrument identification code ISIN for the underlying shares of OKYO Pharma Limited: GG00BD3FV870
vs) Nature of the operation Participation in the American offer
D) Price(s) and volume(s) Price Volume
(i) $4.00 (i) 37,500
(ii) $4.00 (ii) 12,500
F) Transaction date May 16, 2022
g) Place of transaction NASDAQ

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