REG - Byotrol PLC - Completion of Convertible Loan Note Fundraising

ByotrolAnnouncement

28/07/2022 07:16

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RNS Number : 9940T  Byotrol PLC  28 July 2022

 

28 July 2022

 

Byotrol plc

("Byotrol" or the "Company")

 

Completion of Convertible Loan Note Fundraising

 

 

Byotrol plc (AIM: BYOT), the developer of anti-microbial hygiene technologies,
is pleased to announce that it has completed a fundraising of £1,000,000 (the
"Fundraising") by the issue of convertible loan notes ("Loan Notes") to new
and existing investors in the Company, including Board directors. The net
proceeds of the Fundraising will be used to underpin the growth initiatives of
the Company, including to finance ongoing regulatory approvals in the UK and
EU.

 

The Loan Notes have a term of five years, are senior in ranking, unsecured and
convertible at investors' option into ordinary shares in the capital of the
Company ("Ordinary Shares") at a price of 3.25 pence per Ordinary Share,
representing a 30% premium to the mid-price of the Company's share price at
close of business on 26 July 2022. The Loan Notes carry a coupon of 9% per
annum, payable quarterly in arrears.

 

Based on the issue size of £1,000,000, the Loan Notes would, if converted,
represent approximately 30,769,230 Ordinary Shares, amounting to 6.8% of the
current issued share capital of the Company

 

The following directors and PDMRs of Byotrol (the "Participating Directors")
have participated in the Fundraising:

 

 Name       Position                 Loan Notes Subscribed For  Number of Ordinary Shares to be issued if Loan Notes are Converted  Existing number of Ordinary Shares Owned  Percentage holding following conversion of the Loan Notes
 D Traynor  Chief Executive Officer  £50,000.00                 1,538,461                                                           9,935,297                                 2.37%
 C Sedwell  Chief Financial Officer  £50,000.00                 1,538,461                                                           Nil                                       0.32%
 V Pinto    Chief Growth Officer     £100,000.00                3,076,923                                                           300,000                                   0.70%
 S Gogarty  Non-Executive Director   £100,000.00                3,076,923                                                           Nil                                       0.63%
 T Francis  Non-Executive Director   £200,000.00                6,153,846                                                           4,470,214                                 2.19%

 

Their participation constitutes a related party transaction for the purpose of
the AIM Rules for Companies. The AIM rules require there to be an independent
director of the Company to consider the terms of the Loan Notes on behalf of
the shareholders; John Langlands (Chairman), having consulted with the
Company's nominated adviser finnCap considers the terms upon which the
Participating Directors are participating in the Fundraising to be fair and
reasonable insofar as the Company's shareholders are concerned.

 

 

Commenting on the fundraising, David Traynor, Chief Executive of Byotrol,
said:

 

"These funds will allow Byotrol to continue investing in its growth plans,
without accessing equity markets at current low levels and without offering
the high interest rates and levels of security currently being sought by debt
investors and banks.  The high level of participation by the Directors
confirms the Directors' continued confidence in the future of the Company."

 

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.

 

 

For further Information visit www.byotrolplc.com (http://www.byotrolplc.com) ,
follow on twitter @byotrol or contact

 

 Byotrol Plc
 David Traynor - Chief Executive Officer                               +44 (0)1925 742 000
 Chris Sedwell - Chief Financial Officer

 finnCap Limited (Nominated Adviser and Broker)                        +44 (0)20 7220 0500
 Geoff Nash/James Thompson - Corporate Finance
 Richard Chambers - ECM

 Flagstaff Strategic and Investor Communications                       +44 (0)20 7129 1474
 Tim Thompson/Andrea Seymour/Fergus Mellon                             byotrol@flagstaffcomms.com (mailto:byotrol@flagstaffcomms.com)

 

 

Notes to Editors:

 

Byotrol plc (BYOT.L), quoted on AIM, is a leading infection prevention and
control company, operating globally in the animal health, human health,
facilities management, and consumer sectors.

 

Byotrol develops unique antimicrobial technologies for use on surfaces, skin
and instruments, which it then commercialises through market-leading
distribution partners in each sector.

 

Byotrol's antimicrobial technologies can be licensed for use in leading
brands, to significantly improve their product claims, while reassuring
consumers and end-users of their efficacy and quality.

 

Founded in 2005, the Company develops technologies and products with the aim
of providing easier, safer and cleaner lives for everyone.

 

 

The below notification is made in accordance with the requirements of the EU
Market Abuse Regulation.

 1.    Details of the person discharging managerial responsibilities/person closely
       associated
 a)    Name:                                                         David Traynor
 2.    Reason for the notification
 a)    Position/status:                                              Chief Executive Officer
 b)    Initial notification/Amendment:                               Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name:                                                         Byotrol plc
 b)    LEI:                                                          213800AJMTSTIPA59A34
 4.    Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a)    Description of the financial instrument, type of instrument:  Ordinary shares of 0.25 pence per share

       Identification code:                                          GB00B0999995
 b)    Nature of the transaction:                                    Issue of Convertible Loan Notes
 c)    Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                     3.25      1,538,461
 d)    Aggregated information:                                       See 4c) above

       ·Aggregated volume:

       ·Price:
 e)    Date of the transaction:                                      27/07/2022
 f)    Place of the transaction:                                     Off Market Transaction

d)

Aggregated information:

·Aggregated volume:

·Price:

See 4c) above

 

e)

Date of the transaction:

27/07/2022

f)

Place of the transaction:

Off Market Transaction

 

 

 

 1.    Details of the person discharging managerial responsibilities/person closely
       associated
 a)    Name:                                                         Chris Sedwell
 2.    Reason for the notification
 a)    Position/status:                                              Chief Financial Officer
 b)    Initial notification/Amendment:                               Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name:                                                         Byotrol plc
 b)    LEI:                                                          213800AJMTSTIPA59A34
 4.    Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a)    Description of the financial instrument, type of instrument:  Ordinary shares of 0.25 pence per share

       Identification code:                                          GB00B0999995
 b)    Nature of the transaction:                                    Issue of Convertible Loan Notes
 c)    Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                     3.25      1,538,461
 d)    Aggregated information:                                       See 4c) above

       ·Aggregated volume:

       ·Price:
 e)    Date of the transaction:                                      27/07/2022
 f)    Place of the transaction:                                     Off Market Transaction

d)

Aggregated information:

·Aggregated volume:

·Price:

See 4c) above

 

e)

Date of the transaction:

27/07/2022

f)

Place of the transaction:

Off Market Transaction

 

 

 

 1.    Details of the person discharging managerial responsibilities/person closely
       associated
 a)    Name:                                                         Vivan Pinto
 2.    Reason for the notification
 a)    Position/status:                                              Chief Growth Officer
 b)    Initial notification/Amendment:                               Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name:                                                         Byotrol plc
 b)    LEI:                                                          213800AJMTSTIPA59A34
 4.    Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a)    Description of the financial instrument, type of instrument:  Ordinary shares of 0.25 pence per share

       Identification code:                                          GB00B0999995
 b)    Nature of the transaction:                                    Issue of Convertible Loan Notes
 c)    Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                     3.25      3,076,923
 d)    Aggregated information:                                       See 4c) above

       ·Aggregated volume:

       ·Price:
 e)    Date of the transaction:                                      27/07/2022
 f)    Place of the transaction:                                     Off Market Transaction

d)

Aggregated information:

·Aggregated volume:

·Price:

See 4c) above

 

e)

Date of the transaction:

27/07/2022

f)

Place of the transaction:

Off Market Transaction

 

 

 

 1.    Details of the person discharging managerial responsibilities/person closely
       associated
 a)    Name:                                                         Sean Gogarty
 2.    Reason for the notification
 a)    Position/status:                                              Non-Executive Director
 b)    Initial notification/Amendment:                               Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name:                                                         Byotrol plc
 b)    LEI:                                                          213800AJMTSTIPA59A34
 4.    Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a)    Description of the financial instrument, type of instrument:  Ordinary shares of 0.25 pence per share

       Identification code:                                          GB00B0999995
 b)    Nature of the transaction:                                    Issue of Convertible Loan Notes
 c)    Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                     3.25      3,076,923
 d)    Aggregated information:                                       See 4c) above

       ·Aggregated volume:

       ·Price:
 e)    Date of the transaction:                                      27/07/2022
 f)    Place of the transaction:                                     Off Market Transaction

d)

Aggregated information:

·Aggregated volume:

·Price:

See 4c) above

 

e)

Date of the transaction:

27/07/2022

f)

Place of the transaction:

Off Market Transaction

 

 

 

 1.    Details of the person discharging managerial responsibilities/person closely
       associated
 a)    Name:                                                         Trevor Francis
 2.    Reason for the notification
 a)    Position/status:                                              Non-Executive Director
 b)    Initial notification/Amendment:                               Initial Notification
 3.    Details of the issuer, emission allowance market participant, auction
       platform, auctioneer or auction monitor
 a)    Name:                                                         Byotrol plc
 b)    LEI:                                                          213800AJMTSTIPA59A34
 4.    Details of the transaction(s): section to be repeated for (i) each type of
       instrument; (ii) each type of transaction; (iii) each date; and (iv) each
       place where transactions have been conducted
 a)    Description of the financial instrument, type of instrument:  Ordinary shares of 0.25 pence per share

       Identification code:                                          GB00B0999995
 b)    Nature of the transaction:                                    Issue of Convertible Loan Notes
 c)    Price(s) and volume(s):                                       Price(s)  Volume(s)
                                                                     3.25      6,153,846
 d)    Aggregated information:                                       See 4c) above

       ·Aggregated volume:

       ·Price:
 e)    Date of the transaction:                                      27/07/2022
 f)    Place of the transaction:                                     Off Market Transaction

d)

Aggregated information:

·Aggregated volume:

·Price:

See 4c) above

 

e)

Date of the transaction:

27/07/2022

f)

Place of the transaction:

Off Market Transaction

 

 

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