REG - Science in Sport PLC - Result of General Meeting and Total Voting Rights

Science in SportAnnouncement

24/07/2024 12:45

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RNS Number : 6885X  Science in Sport PLC  24 July 2024

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THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.

24 July 2024

Science in Sport plc

("Science in Sport" or the "Company")

Result of General Meeting and Total Voting Rights

On 4 July 2024, Science in Sport plc (AIM: SIS), the premium performance
nutrition company serving elite athletes, sports enthusiasts and the gym
lifestyle community, announced a conditional Placing and Retail Offer.

The Company is pleased to announce that all Resolutions, as set out in the
circular sent to its shareholders dated 8 July 2024 (the "Circular") and
proposed at the General Meeting held earlier today, were passed.

Further to this, the Company can now confirm that, pursuant to the terms and
conditions of the Placing and the Retail Offer, it will issue 49,999,999 new
Ordinary Shares at 17 pence per share, raising gross proceeds of approximately
£8.5 million (in aggregate). The New Ordinary Shares will be issued as
follows:

·    47,058,823 shares pursuant to the Placing, raising gross proceeds of
approximately £8.0 million; and

·    2,941,176 shares pursuant to the Retail Offer, raising gross proceeds
of approximately £0.5 million.

The Company has applied to the London Stock Exchange for the 49,999,999 New
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected
that the Admission will occur at 8:00 a.m. on 25 July 2024.

Upon Admission, the Company's Enlarged Issued Share Capital will consist of
232,272,606 Ordinary Shares with one voting right each. The Company does not
hold any Ordinary Shares in treasury. Therefore, from Admission the total
number of Ordinary Shares and voting rights in the Company will be
232,272,606.

Commenting, Daniel Wright, Executive Chair of Science in Sport, said: "We're
very pleased to have been able to complete this equity raise with significant
support from our existing shareholder base and new investors. The Board would
like to thank investors for their continued support. The additional funds
raised will enable us to invest in inventory, capital expenditure to improve
operational efficiency and develop 'go-to' market strategies in key regions
and customer groups, which will drive controlled margin improvements for the
Company. Directors have participated significantly in the raise, highlighting
both our commitment to and belief in the Company's prospects and opportunities
for growth. We look forward to a productive second half of FY24, and beyond,
as we continue to execute our strategy."

Terms used but not defined in this announcement have the same meaning as set
out in the Circular.

For further information:

 Science in Sport plc                                     T: +44 (0) 20 7400 3700
 Daniel Wright, Executive Chairman

 Daniel Lampard, Chief Operating Officer

 Christopher Welsh, Chief Financial Officer

 Panmure Liberum Limited (Nominated Adviser and Broker)   T: +44 (0) 20 3100 2000
 Richard Lindley

 John More

 Anake Singh

 

About Science in Sport plc

Headquartered in London, Science in Sport plc is a leading sports nutrition
business that develops, manufactures, and markets innovative nutrition
products for professional athletes, sports and fitness enthusiasts and the
active lifestyle community. The Company has two highly regarded brands, PhD
Nutrition, a premium active-nutrition brand targeting the active lifestyle
community, and SiS, a leading endurance nutrition brand among elite athletes
and professional sports teams.

The two brands sell through the Company's phd.com and scienceinsport.com
digital platforms, third-party online sites, including Amazon and eBay, and
extensive retail distribution in the UK and internationally, including major
supermarkets, high street chains and specialist sports retailers. This
omnichannel footprint enables the Company to address the full breadth of the
sports nutrition market.

PhD is one of the UK's leading active nutrition brands with a reputation for
high quality and product innovation. The brand has grown rapidly since its
launch in 2005. The range now comprises powders, bars, and supplements,
including the high protein, low sugar range, PhD Smart.

SiS, a leading endurance nutrition business founded in 1992, has a core range
comprising gels, powders and bars focused on energy, hydration, and recovery.
SiS is an official endurance nutrition supplier to over 320 professional
teams, organisations, and national teams worldwide. SiS supplies more than 150
professional football clubs in the UK, Europe, and the USA.

SiS is Performance Solutions partner to Ineos Grenadiers cycling team, and
Tottenham Hotspur and CGC Nice football clubs.

For further information, please visit phd.com and scienceinsport.com

 

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