10 January 2023
Partial AOP Loan Conversion
London, UK, 09 January 2023: Shield Therapeutics plc (LSE:STX), a commercial stage pharmaceutical company with a focus on addressing iron deficiency with its lead product Accrufer®/Feraccru® (ferric maltol), confirms that, AOP Health International Management AG ("AOP") has requested the conversion of a portion of the convertible shareholder loan facility between the Company and AOP (the "Shareholder Loan") into 31,438,189 ordinary shares of £0.015 each in Shield ("New Ordinary Shares"). The conversion price is 6p per New Ordinary Share, calculated pursuant to the terms of the Shareholder Loan, is equal to the price at which new Ordinary Shares were issued pursuant to the recent equity fundraise completed by the Company on 6 January 2023. The loan balance converted at this time therefore has a value of US$2,241,291 at the exchange rate of $1.1882: £1, determined pursuant to the terms of the Shareholder Loan.
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