REG - Intuitive Invests.Gp - Investment in Ocutec Limited

Intuitive InvestmentsAnnouncement

14/02/2022 07:00

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RNS Number : 5063B  Intuitive Investments Group plc  14 February 2022

Intuitive Investments Group plc

("IIG" or the "Company")

Investment in Ocutec Limited

Intuitive Investments Group plc (AIM: IIG) ("IIG" or the "Company"), a
closed-end investment company focussed on the life sciences sector, announces
an investment of £250,000 to acquire 156,250 new ordinary shares in Ocutec
Limited ("Ocutec"), representing a 6.04 per cent. interest in Ocutec's
enlarged share capital, as part of a £1.36 million fundraising round.

Ocutec has patented technology covering the formulation of novel contact lens
products, contact lens comfort solutions and injection moulding technology for
rapid manufacturing. Ocutec is based in Glasgow, and has been operating since
2006, having been spun out of the University of Strathclyde. Further
information can be found on its website: https://www.ocutec.com/
(https://www.ocutec.com/) .

According to its unaudited management accounts for the six months to 31
October 2021, Ocutec had no revenue and a loss after tax of £377,386 and, at
31 October 2021, had unaudited net assets of £4,447,137.

Stewart White, Chairman of IIG's Advisory Panel and a member of the Company's
Investment Team, acts as a consultant to Ocutec.

As part of Ocutec's fundraising, Robert Naylor, IIG's CEO, and Malcolm
Gillies, IIG's Senior Non-Executive Director, have each personally invested
£50,000 giving each of them a 1.21 per cent. interest in Ocutec's enlarged
share capital. Accordingly, neither Robert Naylor nor Malcolm Gillies voted
as members of the Board approving the Investment.

For further information, please contact:

 Intuitive Investments Group plc                       www.iigplc.com (http://www.iigplc.com/)
 David Evans, Executive Chairman                       Via Walbrook PR

 Robert Naylor, CEO

 SP Angel Corporate Finance LLP - Nominated Adviser    +44 (0) 20 3470 0470
 Jeff Keating / David Hignell / Kasia Brzozowska

 Turner Pope Investments (TPI) Ltd - Broker            +44 (0) 20 3657 0050
 Andrew Thacker / James Pope

 Walbrook PR Limited - Media & Investor Relations      +44 (0)20 7933 8780 or intuitive@walbrookpr.com
                                                       (mailto:intuitive@walbrookpr.com)
 Paul McManus / Sam Allen                              +44 (0) 7980 541 893 / +44 (0) 7502 558 258

 

About Intuitive Investments Group plc

Intuitive is an investment company seeking to provide investors with exposure
to a portfolio concentrating on fast growing and/or high potential Life
Sciences businesses operating predominantly in the UK, continental Europe and
the US, utilising the Board's experience and in particular that of the
Chairman, David Evans, to seek to generate capital growth over the long term
for shareholders.

 

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