REG - Belluscura PLC - Trading Update and Directorate Change

BelluscuraAnnouncement

16/04/2025 07:00

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RNS Number : 2552F  Belluscura PLC  16 April 2025

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16 April 2025

 

Belluscura plc

("Belluscura", the "Company" or "Group")

 

 

Trading Update

Directorate Change

 

Belluscura plc (AIM: BELL), a leading medical device developer focused on
lightweight and portable oxygen enrichment technology, announces that Q1 2025
sales were $912,000 (Q1 2024: $166,000).

 

Further to the statement issued on 8 April 2025, the Board anticipates that
product sold in the US will be subject to a tariff production cost impact of
up to 20%.  Under HTSUS* 9019.20.00 all imports of articles that are products
of China and Hong Kong and which are classified as providing "Ozone therapy,
oxygen therapy, aerosol therapy, artificial respiration or other therapeutic
respiration apparatus, including parts and accessories thereof" will be
assessed at an ad valorem rate of duty of 20%.

 

The Company continues to evaluate additional long-term opportunities to reduce
tariff and production costs, such as manufacturing and sourcing components
from alternative jurisdictions.

 

 

The Company is pleased to confirm that the new X-PLOR 5 was launched earlier
this month. The X-PLOR 5 is the first FDA cleared five-level portable oxygen
concentrator weighing under four pounds. The X-PLOR 5 contains the new and
patented user-replaceable aluminium sieve, providing a key advantage over
other products as well as a future recurring revenue stream for Belluscura.
Initial customer demand for the new X-PLOR 5 has been strong.  In addition,
full commercial launch of the DISCOV-R is anticipated in Q3 FY25.

 

As at close of business on 15 April 2025, Belluscura had a cash balance of
$1.1 million and debt of $0.6m.

 

 

Directorate change

 

The Company also announces that Simon Neicheril, Chief Financial Officer, has
resigned from the Company and will leave the Board and the Group with effect
from 2 May 2025 when he takes up a new position.

 

In the immediate term, Paul Tuson, Chairman, will take Board responsibility
for finance. Paul qualified as a Chartered Accountant at KPMG and brings over
thirty years' post qualification experience. He has served as Chief Financial
Officer as well as Non-Executive Director on a number of AIM quoted companies.

 

 

Paul Tuson, Chairman of the Board of Belluscura, commented:

 

"Simon joined Belluscura in October 2023. The Board greatly appreciates his
hard work, professionalism and dedication. We wish him every success in the
future.

 

"Trading in the period since completing share placing in February has been
satisfactory. The prospects for Q2 FY2025 are encouraging, despite the
uncertainties surrounding the recent imposition of US tariffs.

 

"The Company continues to monitor the seemingly fluid position of US tariffs
and is actively seeking to minimise adverse implications to the Company and
the users of its portable oxygen container products based in the USA."

 

 

* Harmonized Tariff Schedule of the United States Revision 10 (2025)

 

 

For further information please contact:

 

 Belluscura plc                                             Tel: +44 (0)20 3128 8100
 Paul Tuson, Chairman

 Robert Rauker, Chief Executive Officer

 SPARK Advisory Partners Limited                            Tel: +44 (0)20 3368 3550

 Nominated Adviser
 Neil Baldwin / Jade Bayat

 Dowgate Capital Limited                                    Tel: +44 (0)20 3903 7715

 Joint Broker
 James Serjeant (Corporate Broking)

 Russell Cook / Daniel Ingram (Corporate Finance)

 Allenby Capital Ltd                                        Tel: +44 (0)20 3328 5656

 Joint Broker
 Guy McDougall / Amrit Nahal (Sales and Corporate Broking)

 Jeremy Porter / Lauren Wright (Corporate Finance)

 MHP                                                        Tel: +44 (0)20 3128 8100

 Financial PR & Investor Relations                          email: Belluscura@mhpgroup.com (about:blank)
 Katie Hunt/Matthew Taylor

 

 

For further information, please visit https://ir.belluscura.com/
(https://ir.belluscura.com/)

 

 

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