OptiBiotix Health PLC Admission of ProBiotix Health plc to AQSE (6542G)
31 Marzo 2022 - 12:01AM
UK Regulatory
TIDMOPTI
RNS Number : 6542G
OptiBiotix Health PLC
31 March 2022
OptiBiotix Health plc
("OptiBiotix" or the "Company")
Admission of ProBiotix Health plc to AQSE Growth Market
OptiBiotix Health p lc (AI M: OPTI), a life sciences busi ness d
eveloping compou n ds to tackle obesity, high cholesterol, diabetes
and skin care, a nnounces the admission of its former subsidiary,
ProBiotix Health plc (AQSE: PBX), onto the AQSE Growth Market.
As part of the Admission, ProBiotix Health plc ("ProBiotix" or
"PBX") has raised GBP2.5 million through a placing and subscription
of 11,904,762 Ordinary Shares at a price of 21p per share. A total
of 121,666,666 ordinary shares of 0.05p each in PBX ("Ordinary
Shares") will be admitted to trading on the Access Segment of the
AQSE Growth Market ("Admission") today valuing ProBiotix at
approximately GBP25.5m.
PBX has a unique strain of Lactobacillus plantarum trademarked
as LPLDL which three clinical studies published in peer reviewed
journals have shown statistically significant changes to clinically
important cardiovascular risk including total cholesterol, LDL
(bad) cholesterol, and Apolipoprotein B. The company also has six
publications showing LPLDL's mechanism of action and 27 patents and
22 trademarks protecting its commercial interests, and FDA GRAS
which allows the use of LPLDL in food products.
OptiBiotix recently announced (RNS: 28 February 2022) that
preliminary unaudited results for PBX for the year ended 31
December 2021, indicated total sales of GBP1.1 million.
Distribution
The Company is pleased to confirm that OptiBiotix shareholders
on the register as at close of business on 25 March 2022 ("Record
Date") will receive 0.554673 ProBiotix share for every one
OptiBiotix ordinary share held. Entitlements will be rounded down
to the nearest whole number of PBX Shares. The legal title to the
Dividend Shares will be held by Global Prime Partners Nominees Ltd
acting as nominee on behalf of each of the Qualifying Shareholders
("Nominee") and an 'omnibus' share certificate in respect of the
Dividend Shares. The Nominee will hold the Dividend Shares on trust
for each of the Qualifying Shareholders for a minimum period of
nine months following admission to trading on AQSE of the issued
share capital of ProBiotix ("Lock-up Period"). The Lock-up Period
is intended to contribute to the creation of an orderly market in
ProBiotix Health's shares for a period after admission to trading.
At the end of the Lock-up Period, the Nominee will be entitled to
execute stock transfer forms to transfer the legal title to the
Dividend Shares to each Qualifying Shareholder (as
appropriate).
CREST Shareholders should note that, pursuant to the Dividend,
the ProBiotix shares will be transferred to the Nominee to be held
on trust for the benefit of the OptiBiotix Shareholders.
Accordingly, the automated CREST market claims process will not
be available in respect of the dividend in specie entitlements to
ProBiotix shares. Any market claims will therefore need to be
agreed bi-laterally between affected Participants for settlement
following the transfer of the Probiotix shares from the Nominee to
the entitled OptBiotix Shareholders in January 2023.
Following the distribution in specie of Ordinary Shares to its
shareholders, OptiBiotix remains interested in 53,533,333 Ordinary
Shares, representing approximately 44% of the issued share capital
of ProBiotix Health plc.
Stephen O'Hara, CEO of OptiBiotix, commented: "OptiBiotix has
been really pleased with the development of its ProBiotix Health
business and now believes that the scale of the opportunities
offered by LPLDL, particularly in dairy and pharma which require
specialist skill sets, may best be realised by a separate listing.
The separate listing and fundraise allows ProBiotix to accelerate
commercial progress and grow direct to consumer product sales, and
expand into key markets like dairy and pharma. The admission to
AQSE materialises the value of Probiotix as a valuable asset to
OptiBiotix shareholders who benefit from a dividend in species and
the potential for substantial future value enhancement of a
subsidiary."
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
For further information, please contact:
OptiBiotix Health plc www.optibiotix.com
Stephen O'Hara, Chief Executive Contact via Walbrook
below
Cairn Financial Advisers LLP (NOMAD) Tel: 020 7213 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
Cenkos Securities plc (Broker) Tel: 020 7397 8900
Callum Davidson / Neil McDonald
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd Mob: 07876 741 001
Anna Dunphy
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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END
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March 31, 2022 02:01 ET (06:01 GMT)
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