REG - SkinBioTherapeutics - Conversion Notice & Total Voting Rights

SkinbiotherapeuticsAnnouncement

05/04/2024 07:00

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RNS Number : 4122J  SkinBioTherapeutics PLC  05 April 2024

 

SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")

 

Conversion Notice and Total Voting Rights

 

5 April 2024 - SkinBioTherapeutics plc, (AIM: SBTX, or the "Company"), the
life science business focused on skin health, announces that it received a
Conversion Notice on 28 March 2024 from Macquarie ("Macquarie") for £500,000
of Convertible Bonds from the £5.0 million convertible bond facility
announced on 25 January 2024. The Company has drawn a total of £1.6 million
under the Facility and further commited to cap the facility at this amount.

 

SkinBioTherapeutics will issue 7,583,958 ordinary shares of £0.01 per share
("Ordinary Shares") at a conversion price of 6.592863p per Ordinary Share.

 

Long term shareholders, including Tyndall Investement Management who have
invested in the Company since IPO, have agreed to purchase the shares directly
from Macquarie Bank.

 

Stuart Ashman, CEO of SkinBioTherapeutics said: "This conversion means that
£0.71m of the £1.6m we drew down for the acquisition of Dermatonics has
converted. We appreciate the continued support we have received from the
shareholders who have been with us since IPO. We see this as a validation of
what we have achieved so far and the ongoing strategy to build scale and
financial strength."

 

 

Admission and Total Voting Rights

 

Application has been made for the 7,583,958 new ordinary shares, which will
rank pari passu in all respects with the existing ordinary shares of the
Company, to be admitted to AIM, which is expected to occur on or around 8.00
a.m. on 8 April 2024 ("Admission"). Upon Admission, the total number of issued
shares and the total number of voting rights in the Company will be
200,379,907.

 

The above figure of 200,379,907 should be used by shareholders in the Company
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 Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

-Ends-

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.

 

 

For more information please contact:

 

 SkinBioTherapeutics plc                            Tel: +44 (0) 191 495 7325

 Stuart J. Ashman, CEO

 Manprit Randhawa, CFO

 Cavendish Capital Markets Limited                  Tel: +44 (0) 20 7220 0500

 (Nominated Adviser & Broker)

 Giles Balleny, Dan Hodkinson (Corporate Finance)

 Charlie Combe (Broking)

 Dale Bellis, Tamar Cranford-Smith (Sales)

 Instinctif Partners (financial press)              Tel: +44 (0) 20 7457 2020

 Melanie Toyne-Sewell / Jack Kincade                SkinBioTherapeutics@instinctif.com

 

About SkinBioTherapeutics plc

SkinBioTherapeutics is a life science company focused on skin health. The
Company's proprietary platform technology, SkinBiotix(®), is based upon
discoveries made by the translational dermatology team at the University of
Manchester.

The Company is targeting a number of skin healthcare sectors, the most
advanced of which are cosmetic skincare and food supplements to modulate the
immune system by harnessing the gut-skin axis. In each area
SkinBioTherapeutics plans to exemplify its technology through human studies.
The Company's first product, AxisBiotix-Ps™, a food supplement to address
the symptoms of mild to moderate psoriasis.

The Company listed on AIM in April 2017 and is based in Newcastle, UK. For
more information, visit: www.skinbiotherapeutics.com
(http://www.skinbiotherapeutics.com) and www.axisbiotix.com
(http://www.axisbiotix.com) .

 

 

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