REG - Proteome Sciences - Loan Amendment

Proteome SciencesAnnouncement

30/03/2021 07:00

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RNS Number : 8662T  Proteome Sciences PLC  30 March 2021

30 March 2021

 

Proteome Sciences plc

("Proteome Sciences" or the "Company")

 

Loan amendment

 

On 3 July 2018, the Company entered into a £1 million loan facility with
Vulpes Investment Management Private Limited ("VIM") (the "Loan").  The
Directors of Proteome Sciences are now pleased to announce that the Loan has
been amended such that the Loan (of which £700,000 is currently drawn) and
all accrued interest is now repayable on 1 May 2022 (previously 1 May 2021)
(the "Loan Amendment").  All other terms of the Loan remain the same as
announced on 3 July 2018, including that interest will accrue at the annual
rate of 2.5 per cent. above the UK sterling base rate of Barclays Bank plc.

 

Mr Martin Diggle, Non-Executive Director of Proteome Sciences, is a director
and partner of VIM.  VIM manages the Vulpes Life Sciences Fund, which is the
shareholder of 22.3 per cent. of Proteome Sciences. By virtue of Mr Diggle
being a director of the Company and a partner and director of VIM, the Loan
Amendment constitutes a related party transaction in accordance with the AIM
Rules for Companies.  Accordingly, the directors independent of the
transaction, being all directors of the Company save for Mr Diggle, consider,
having consulted with the Company's nominated adviser, that the Loan Amendment
is fair and reasonable insofar as the Company's shareholders are concerned.

 

 

For further information please contact:

 Proteome Sciences plc

 Mariola Soehngen, M.D., Chief Executive Officer
 Dr Ian Pike, Chief Scientific Officer     Tel: +44 (0)20 7043 2116

 Richard Dennis, Chief Commercial Officer

 Allenby Capital Limited (AIM Nominated Adviser & Broker)
 John Depasquale / Jeremy Porter           Tel: +44 (0) 20 3328 5656

About Proteome Sciences plc. (www.proteomics.com (http://www.proteomics.com/)
)

 

Proteome Sciences plc is a specialist provider of contract proteomics services
to enable drug discovery, development and biomarker identification, and
employs proprietary workflows for the optimum analysis of tissues, cells and
body fluids.  SysQuant® and TMT®MS2 are unbiased methods for identifying
and contextualising new targets and defining mechanisms of biological
activity, while analysis using Super-Depletion and TMTcalibrator™ provides
access to over 8,500 circulating plasma proteins for the discovery of
disease-related biomarkers. Targeted assay development using mass spectrometry
delivers high sensitivity, interference-free biomarker analyses in situations
where standard ELISA assays are not available.

 

The Company has its headquarters in London, UK, with laboratory facilities in
Frankfurt, Germany.

 

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