Update on Placing to raise £560,000

23 March 2020

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

23 March 2020

OKYO Pharma Limited

("OKYO" or the "Company")

Update on Placing to raise £560,000

Further to the Company's announcement of 19 March 2020 that it had conditionally placed 112,000,000 new ordinary shares of no par value in the Company (the "Placing Shares") at a placing price of 0.5 pence each (the "Placing Price") to raise £560,000 (before expenses) (the "Placing"), the Company has agreed to stagger the Placing into two tranches.

In light of an issue of shares on 22 May 2019 and, accordingly, in order to avoid the need to publish a prospectus for the Placing, the Company, with the agreement of the places, will now seek Admission of 75,825,130 Placing Shares immediately, and make further applications to the FCA and to the London Stock Exchange for Admission of the balance of 36,174,870 Placing Shares for admission on or about 25 May 2020.

The terms and conditions of the Placing are unchanged in all other respects.

It is expected that Admission will become effective, and that dealings in the first tranche of 75,825,130 Placing Shares are expected to commence, at 8.00 a.m. on 24 March 2020.

The rights attaching to the Placing Shares will be uniform in all respects and all of the Placing Shares will rank pari passu, and form a single class for all purposes with, the existing issued shares of no par value in the Company.

Following Admission of the Placing Shares, the enlarged Share Capital will be 636,297,049 ordinary shares of no par value.

The Company will make a further announcement upon the closing of the second tranche of the Placing.

The person who arranged for the release of this announcement on behalf of the Company was Tiziano Lazzaretti, Chief Financial Officer of OKYO.

About OKYO

OKYO Pharma Limited (LSE: OKYO) is a life sciences and biotechnology company admitted to listing on the standard segment of the Official List of the UK Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc. OKYO is focusing on the discovery and development of novel molecules to treat inflammatory dry eye diseases and chronic pain.

Enquiries:

OKYO Pharma Limited

Willy Simon

+44 (0)20 7382 8300

Shore Capital Limited (Broker)

Antonio Bossi

David Coaten

+44 (0)20 7601 6100

For further information, please visit the Company's website at www.okyopharma.com.

 

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