THIS
ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND
IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES,
AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL.
THIS
ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE
RELEASE.
24 July 2024
Science in Sport
plc
("Science in
Sport" or the "Company")
Result of General Meeting and
Total Voting Rights
On 4 July 2024, Science in Sport plc
(AIM: SIS), the premium performance nutrition company serving elite
athletes, sports enthusiasts and the gym lifestyle community,
announced a conditional Placing and Retail Offer.
The Company is pleased to announce
that all Resolutions, as set out in the circular sent to its
shareholders dated 8 July 2024 (the "Circular") and proposed at the General
Meeting held earlier today, were passed.
Further to this, the Company can now
confirm that, pursuant to the terms and conditions of the Placing
and the Retail Offer, it will issue 49,999,999 new Ordinary Shares
at 17 pence per share, raising gross proceeds of approximately £8.5
million (in aggregate). The New Ordinary Shares will be issued as
follows:
·
47,058,823 shares pursuant to the Placing, raising
gross proceeds of approximately £8.0 million; and
·
2,941,176 shares pursuant to the Retail Offer,
raising gross proceeds of approximately £0.5 million.
The Company has applied to the London
Stock Exchange for the 49,999,999 New Ordinary Shares to be
admitted to trading on AIM ("Admission"). It is expected that the
Admission will occur at 8:00 a.m. on 25 July 2024.
Upon Admission, the Company's
Enlarged Issued Share Capital will consist of 232,272,606 Ordinary
Shares with one voting right each. The Company does not hold any
Ordinary Shares in treasury. Therefore, from Admission the total
number of Ordinary Shares and voting rights in the Company will be
232,272,606.
Commenting, Daniel Wright, Executive Chair of Science in
Sport, said: "We're very pleased to
have been able to complete this equity raise with significant
support from our existing shareholder base and new investors. The
Board would like to thank investors for their continued support.
The additional funds raised will enable us to invest in inventory,
capital expenditure to improve operational efficiency and develop
'go-to' market strategies in key regions and customer groups, which
will drive controlled margin improvements for the Company.
Directors have participated significantly in the raise,
highlighting both our commitment to and belief in the Company's
prospects and opportunities for growth. We look forward to a
productive second half of FY24, and beyond, as we continue to
execute our strategy."
Terms used but not defined in this
announcement have the same meaning as set out in the
Circular.
For
further information:
|
Science in Sport plc
|
T: +44
(0) 20 7400
3700
|
|
Daniel Wright, Executive
Chairman
Daniel Lampard, Chief Operating
Officer
Christopher Welsh,
Chief Financial Officer
|
|
|
|
|
|
Panmure Liberum Limited (Nominated Adviser and
Broker)
|
T: +44
(0) 20 3100
2000
|
|
Richard Lindley
John More
Anake Singh
|
|
About Science in Sport plc
Headquartered in London,
Science in Sport plc is a leading sports nutrition business that
develops, manufactures, and markets innovative nutrition products
for professional athletes, sports and fitness enthusiasts and the
active lifestyle community. The Company has two highly regarded
brands, PhD Nutrition, a premium active-nutrition brand targeting
the active lifestyle community, and SiS, a leading endurance
nutrition brand among elite athletes and professional sports
teams.
The two brands sell through the
Company's phd.com and scienceinsport.com digital platforms,
third-party online sites, including Amazon and eBay, and extensive
retail distribution in the UK and internationally, including major
supermarkets, high street chains and specialist sports retailers.
This omnichannel footprint enables the Company to address the full
breadth of the sports nutrition market.
PhD is one of
the UK's leading active nutrition brands with a
reputation for high quality and product innovation. The brand has
grown rapidly since its launch in 2005. The range now comprises
powders, bars, and supplements, including the high protein, low
sugar range, PhD Smart.
SiS, a leading endurance nutrition
business founded in 1992, has a core range comprising gels, powders
and bars focused on energy, hydration, and recovery. SiS is an
official endurance nutrition supplier to over 320 professional
teams, organisations, and national teams worldwide. SiS supplies
more than 150 professional football clubs in
the UK, Europe, and the USA.
SiS is Performance Solutions partner
to Ineos Grenadiers cycling team, and Tottenham Hotspur and CGC
Nice football clubs.
For further information, please
visit phd.com and scienceinsport.com