REG - Belluscura PLC - Trading update & commencement of strategic review

BelluscuraAnnouncement

09/05/2025 07:00

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RNS Number : 9787H  Belluscura PLC  09 May 2025

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9 May 2025

 

Belluscura plc

("Belluscura" or the "Company")

 

Trading update and commencement of strategic review

 

Belluscura plc (AIM: BELL), a UK medical device company focused on developing
oxygen enrichment technology spanning broad industries and therapies, provides
the following trading update and announces the commencement of a strategic
review.

 

The Company confirms that, subject to any future regulatory changes, the US
import tariff on its portable oxygen containers remains at zero. This
continues to support Belluscura's cost structure and reinforces its ability to
offer competitively priced products.

 

Despite challenges in late February and March in sourcing product, the Company
experienced renewed demand for the X-PLOR during April, resulting in a record
sales month of $0.52m.  Demand for the X-PLOR remains robust, reflecting the
growing need for portable oxygen solutions globally.

 

The full commercial launch of the DISCOV-R remains on track and is expected
towards the end of Q3. This product will further enhance Belluscura's offering
of next-generation respiratory support devices.

 

Belluscura remains committed to achieving profitability. The principal
constraint towards achieving this is access to sufficient working capital to
fund bulk orders of completed goods, as bulk ordering is a key factor in
significantly reducing the unit cost of goods sold.

 

To address this, the Company has initiated a strategic review, which will
evaluate a range of options to substantially strengthen its capital position,
including potential strategic investment, partnerships, alternative funding
structures and other corporate initiatives. The review is aimed at supporting
both the Company's short-term cash requirements and its longer-term growth and
accelerating its path to sustainable profitability.

 

As at 30 April 2025, the Company's cash balance was $1.00m and its working
capital bank debt balance stood at $0.79m.

 

There can be no certainty that the strategic review will result in any
specific outcomes, and the Company will provide further updates as
appropriate.

 

For the avoidance of doubt, the strategic review is not for the purposes of
soliciting offers for the Company pursuant to the City Code on Takeovers and
Mergers.

 

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 - Nominated Adviser          Tel: +44 (0)20 3368 3550
 Neil Baldwin / Jade Bayat

 Dowgate Capital Limited - Joint Broker                       Tel: +44 (0)20 3903 7715
 James Serjeant / Colin Climie (Sales and Corporate Broking)
 Russell Cook / Daniel Ingram (Corporate Finance)

 Allenby Capital Limited - Joint Broker                       Tel: +44 (0)20 3328 5656
 Guy McDougall / Amrit Nahal (Sales and Corporate Broking)
 Jeremy Porter / Lauren Wright (Corporate Finance)

 MHP - Financial PR & Investor Relations                      Tel: +44 (0)20 3128 8100
 Katie Hunt / Matthew Taylor                                  email: Belluscura@mhpgroup.com

 

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

 

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