Midatech Pharma announced that further to the announcements made by the company on 20 December 2018 and 25 January 2019 regarding a potential investment and licence agreement with an Asian based strategic investor, the Company has entered into conditional agreements to raise approximately £8 million (before costs) by way of a subscription for new ordinary shares in the Company at a price of 3.85 pence per share. Pursuant to the Subscription, A&B is entitled to nominate a non-executive director to the Board of the company and a Board observer for so long as A&B shall hold in excess of 10%. of the issued share capital of the Company. It is intended that Dr. Huaizheng Peng (a director of CMS Venture and the Chief Executive Officer of A&B) will be appointed as a non-executive director of the Company following completion of the Proposed Subscription. Dr. Peng is General Manager of International Operations at CMS and director of CMS Venture. Dr. Peng joined CMS in 2011 as a General Manager of International Operations. His current responsibilities at CMS include pharmaceutical asset acquisition, product licensing, international business development, outbound investment and asset management. Prior to 2011, Dr. Peng previously served as a non-executive director of CMS for three years. Prior to joining CMS, Dr. Peng worked in London as a partner of Northland Bancorp, a private equity firm, and before that, as the head of life sciences and a director of corporate finance at Seymour Pierce. He also served as a non-executive director to China Medstar while it was listed on AIM. Earlier in his career, Dr. Peng was a senior portfolio manager, specialising in global life science and Asian technology investment at Reabourne Technology Investment Management Limited.