REG - HeiQ PLC - Increased interest in HeiQ Chrisal to 71%

HeiqAnnouncement

14/12/2022 07:00

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RNS Number : 6117J  HeiQ PLC  14 December 2022

14 December 2022

 

HeiQ Plc

("HeiQ" or "the Company")

 

Increased interest in HeiQ Chrisal to 71%

 

HeiQ Plc (LSE: HEIQ), an established global brand in materials and textile
innovation which operates in high-growth markets, is pleased to announce that
it has increased its interest in HeiQ Chrisal from 51% to 71%.

On 3 March 2021, HeiQ announced the acquisition of 51% of the share capital
and voting rights of Chrisal N.V., Belgium, now called HeiQ Chrisal, a
biotechnology company and a leader in innovative ingredients and consumer
products that incorporate the benefits of probiotics and synbiotics.

HeiQ will pay €2.9 million for the additional 20% shareholding to the
vendors of Chrisal through the issue of 3,348,164 new ordinary shares in the
Company, at a price of 0.751p per share, which represents the average 5 day
closing price prior to exercise of the options by HeiQ Chrisal's minority
holders. This stake is valued on the same basis as the initial 51% interest
acquired in HeiQ Chrisal in March 2021. The purchase follows the decision by
four minority shareholders to exercise their option on December 2(nd) to sell
their shares to HeiQ.

HeiQ Chrisal is the developer of HeiQ Synbio, one of four potential
blockbuster technologies in HeiQ's portfolio. HeiQ Synbio allows hospital
detergents to become much more effective than the disinfectants used today. It
significantly reduces surface pathogens and antimicrobial resistance which is
particularly important in hospitals. In H1 2022, HeiQ achieved significant
milestones on the way to establishing synbiotic detergents as a new standard
in hospital cleaning. An independent study by the opinion leading Charité
University Hospital Berlin, and the Robert Koch-Institute proved synbiotic
cleaners far more effective than disinfectants alone. This positions the HeiQ
Synbio platform ideally, given that upcoming European Union regulations are
expected to favour synbiotic cleaners.

HeiQ co-founder and CEO Carlo Centonze said:

"This deal increases our exposure to the significant potential upside
available from HeiQ Synbio. To have achieved this on the same valuation terms
as our original transaction nearly two years ago is pleasing, particularly
given that since then we have achieved a major milestones in establishing
synbiotic detergents as a new standard in hospital cleaning.

HeiQ Chrisal continues to provide us with revenue from additional growth
markets as well as multiple cross-selling opportunities for both Company's
core product range. With this in mind, we are pleased to strengthen our
shareholding through this latest transaction."

Issue of Equity and Total Voting Rights

The Company will issue 3,348,164 new ordinary shares ("Consideration Shares")
to the sellers at a price of £0.751 per share, which is the average 5 day
closing price prior to option exercise in order to satisfy the consideration
due. Applications have been made for the Consideration Shares to be admitted
to the standard segment of the Official List, and to trading on the London
Stock Exchange's Main Market ("Admission").

It is expected that Admission will become effective, and that dealings in the
new Ordinary Shares are expected to commence, at 08.00 a.m. on 15 December
2022.

Following Admission, the total number of Ordinary Shares in issue will be
140,082,472 and the total number of voting rights will therefore be
140,082,472. This figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the share capital of the
Company under the FCA's Disclosure and Transparency Rules.

 

This announcement contains inside information.

 

For further information, please contact:

 HeiQ Plc                                                +41 56 250 68 50

 Carlo Centonze (CEO)
 Cenkos Securities plc (Joint Broker)                    +44 (0) 207 397 8900

 Stephen Keys / Callum Davidson
 SEC Newgate (Media Enquiries)                           +44 (0) 20 3757 6882

 Elisabeth Cowell / Axaule Shukanayeva / Molly Gretton   HeiQ@s (mailto:HeiQ@secnewgate.co.uk) ecnewgate (mailto:HeiQ@secnewgate.co.uk)
                                                         .co.uk (mailto:HeiQ@secnewgate.co.uk)

 

About HeiQ

HeiQ is focused on improving the lives of billions of people world-wide by
innovating the materials people use every day. HeiQ has strong IP which is at
the forefront of global technology in the $10 billion antimicrobial fabrics
market, $24 billion textile chemicals market, the $50 billion probiotics
market and the $150 billion man-made fibers market. It has also moved into the
medical device, healthcare and hygiene coatings markets, to help make
hospitals and healthcare environments more hygienic. HeiQ aims to deliver
growth for its shareholders through a combination of increased sales of its
core products and by entering additional lucrative markets through disruptive
innovations and M&A.

HeiQ has created some of the most effective, durable and high-performance
technologies in the market today, which cool, warm, dry, repel, purify, and
destroy viruses. Since 2005, HeiQ has developed over 200 technologies in
partnership with 300 major brands and it has a significant R&D pipeline
containing over 50 projects. The Company has won multiple awards and gained a
strong reputation for the ESG & sustainable downstream effect of its
innovations. HeiQ is the only company to have won the Swiss Technology award
twice. It has also won the Swiss Environmental award with an innovation that
saves energy and water consumption during the textile manufacturing process.

Led by an experienced leadership team, HeiQ researches new solutions for
partners, delivers scaled up manufacturing from its sites across the world and
helps partners market the product to end consumers - aiming for lab to
consumer in months.

 

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