REG - OptiBiotix Health - Placing, Subscription and Director Dealing

OptiBiotix HealthAnnouncement

25/03/2024 07:00

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RNS Number : 0510I  OptiBiotix Health PLC  25 March 2024

 

OptiBiotix Health plc

("OptiBiotix" or the "Company")

 

Placing, Subscription and Director Dealing

 

OptiBiotix Health plc (AIM: OPTI), a life sciences business developing
compounds to tackle obesity, cardiovascular disease, diabetes and skincare,
announces it has raised in aggregate £1,350,500 through the issue of
6,752,500 new ordinary shares of 2 pence each in the Company ("Fundraise
Shares") at a price of 20 pence per share ("Issue Price") (together, the
"Fundraise") handled by Peterhouse Capital Limited.

 

The Fundraise comprises a placing of 6,627,500 new ordinary shares at the
Issue Price, raising gross proceeds of £1,325,500 (the "Placing") and a
subscription for 125,000 new ordinary shares at the Issue Price, raising gross
proceeds of £25,000, by Graham Myers, a director of the Company (the
"Subscription").

 

Following the Subscription, Graham Myers will be interested in 125,000
ordinary shares in the Company, representing 0.13 per cent. of the Company's
issued share capital following Admission (as defined below).

 

The net proceeds of the Fundraise will be utilised to invest in driving sales
growth by:-

 

1.   active account management of existing partners by co-investing in
publicity, marketing, and promotions to increase sales;

2.   increased presence of the Company's stands at major exhibitions to
attract new partners, particularly in the USA and India to mitigate dependency
on a small number of partners;

3.   investing in marketing the Company's products to grow sales on
e-commerce platforms in India, China, USA, Europe, and the Gulf States; and

4.    launch its second generation SweetBiotix and MicroBiome Modulator
products.

 

Related Party Transaction

The participation of Graham Myers in the Subscription is a related party
transaction pursuant to AIM Rule 13 (the "Transaction").  The directors
independent of the Transaction, having consulted with the Company's nominated
adviser, believe that the terms of the Transaction are fair and reasonable
insofar as shareholders are concerned.

 

Admission

Application will be made to the London Stock Exchange to admit the 6,752,500
new Fundraise Shares to trading on AIM ("Admission"). Admission of the new
Ordinary Shares is expected to occur on or around 28 March 2024. The new
Ordinary Shares will rank pari passu with the existing Ordinary Shares.

 

Total Voting Rights

For the purpose of the Disclosure and Transparency Rules, following the issue
of shares detailed above the enlarged issued share capital of the Company will
comprise 97,943,161 ordinary shares of 2p each. The above 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 Company, under the Disclosure and Transparency Rules.

 

Stephen O'Hara, CEO of OptiBiotix, commented: "The Company has made strong
progress over the last 12 months with our first-generation products returning
to sales growth, a number of well-known corporate partners reaching agreements
(e.g. Tata, Brenntag, Morepen) and the launch of new products with major
brands (MuscleTech, Dr Morepen) in new channels. We are also seeing growth of
online sales, particularly in China, and the potential to replicate this
success in other territories, such as India and the USA.

 

"More recently we have seen strong interest in SlimBiome from partners in the
USA looking for a natural, clinically proven alternative to the anti-obesity
drugs currently available. Given the scale of the opportunities, the Board has
decided to raise additional capital to capitalise on these growth
opportunities and build shareholder value."

 

This announcement contains information which, prior to its disclosure, was
considered inside information for the purposes of the UK Market Abuse
Regulation and the Directors of the Company are responsible for the release of
this announcement.

 

For further information, please contact:

 

 OptiBiotix Health plc                             www.optibiotix.com (http://www.optibiotix.com/)
 Neil Davidson, Chairman  Contact via Walbrook below
 Stephen O'Hara, Chief Executive

 Cairn Financial Advisers LLP (NOMAD)              Tel: 020 7213 0880
 Liam Murray / Jo Turner / Ludovico Lazzaretti

 Peterhouse Capital Limited (Joint Broker)         Tel: 020 7220 9797
 Duncan Vasey/ Lucy Williams

 Walbrook PR Ltd                                   Mob: 07876 741 001
 Anna Dunphy

 

 

About OptiBiotix - www.optibiotix.com (http://www.optibiotix.com/)

OptiBiotix Health plc (AIM: OPTI), which was formed in March 2012, brings
science to the development of compounds which modify the human microbiome -
the collective genome of the microbes in the body - in order to prevent and
manage human disease and promote wellness.

 

OptiBiotix has an extensive R&D programme working with leading academics
in the development of microbial strains, compounds, and formulations which are
used as active ingredients and supplements. More than twenty international
food and healthcare supplement companies have signed agreements with
OptiBiotix to incorporate their human microbiome modulators into a wide range
of food products and drinks.

 

OptiBiotix is also developing its own range of consumer supplements and health
products. The Company's current areas of focus include obesity, cardiovascular
health, and diabetes.

 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions.  These forward looking statements are
not based on historical facts but rather on the Directors' current
expectations and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures (including the
amount, nature and sources of funding thereof), competitive advantages,
business prospects and opportunities. Such forward looking statements reflect
the Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

 

 Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
 596/2014
 1   Details of the person discharging managerial responsibilities/person closely
     associated
 a.  Name                                                         Graham Myers
 2   Reason for notification
 a.  Position/Status                                              Finance Director
 b.  Initial notification/                                        Initial Notification

     Amendment
 3   Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a.  Name                                                         OptiBiotix Health Plc
 b.  LEI                                                          213800UKYQFT941QHS14
 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 2p each

Identification Code

                                                                  ISIN: GB00BP0RTP38
 b.  Nature of the transaction                                    Subscription of 125,000 ordinary shares in the Company

 c.  Price(s) and volume(s)
                                                                               Price(s) per share  Volume(s)
     20p                                                                       125,000

 d.  Aggregated information

     -      Volume

     -      Price
 e.  Date of the transaction                                      22 March 2024
 f.  Place of the transaction                                     London Stock Exchange, AIM

 

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