REG - Belluscura PLC - Update re Strategic Review and Proposed Fundraise

BelluscuraAnnouncement

Mon 07:00

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RNS Number : 7660U  Belluscura PLC  11 August 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

11 August 2025

 

Belluscura plc

("Belluscura" or the "Company")

 

Update re Strategic Review and Proposed Fundraising

 

Belluscura plc (AIM: BELL), a UK medical device company focused on developing
oxygen enrichment technology spanning broad industries and therapies, provides
an update further to the announcement of 30 June 2025 detailing a Proposed
Fundraising (the "Announcement").

 

Omaha Value, Inc ("Omaha")

 

Despite ongoing dialogue with Omaha since the Announcement, and
notwithstanding the Company having requested from Omaha on several occasions
draw down of the initial $250,000 subscribed by Omaha under the $1.5 million
Loan Note, to date no funds have been received. Consequently, the Company has
notified Omaha that the Loan Note is terminated in accordance with its terms.
 

 

As a result of the termination of the Loan Note agreement, any warrants issued
or to be issued in connection with the Loan Note facility are deemed invalid
and cancelled with immediate effect.

 

Non Binding Letter of Intent to dispose of certain assets of the Company

 

The Company has been actively reviewing financial and strategic alternatives
with the objective of achieving value for creditors, convertible loan note
holders and shareholders of the Company.

 

The Company has signed a non-binding letter of intent with a US medical device
company ("Potential Acquirer") whereby the Potential Acquirer proposes,
subject to, inter alia, completion of due diligence and entering into an asset
purchase agreement, to acquire certain assets and liabilities of the Company
relating to its X-PLOR and DISCOV-R product offering, and/or other products,
Intellectual Property, Shenzhen Belluscura Technology Company Limited, and
regulatory and manufacturing registrations in US, China, Hong Kong and
Singapore (the "Assets").

 

The Potential Acquirer has been granted a 15 day exclusivity period from 11
August 2025 to undertake due diligence on the Assets.

 

It is expected that the detailed terms of the proposed purchase will be agreed
by the Company and the Potential Acquirer during the exclusivity period.

 

Disposal of the Assets will be subject to approval by shareholders at a
general meeting of Company as required by AIM Rule 15 of the AIM Rules for
Companies.

 

The ongoing funding discussions means that the Company is not yet able to
finalise the 2024 Annual Report and Accounts and as a result trading in the
Company's shares remains suspended.

 

A further announcement will be made in due course.

 

Capitalised terms not otherwise defined in the text of this announcement have
the same meanings ascribed to them as in the "Update regarding Strategic
Review and proposed Fundraising" announcement published by the Company at 7.00
a.m. on 30 June 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

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

 Joint Broker

 Russell Cook / Daniel Ingram

 Allenby Capital Limited                                     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

 

 

 

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