Circular and Notice of General Meeting

RNS Number : 3967U

Port Erin Biopharma Investments Ltd

29 March 2019

 

7.00am 29 March 2019

Port Erin Biopharma Investments Limited

(the "Company")

Circular and Notice of General Meeting

The Company is pleased to announce that it has today posted a Circular to Shareholders seeking approval for a change of its Investing Policy and a name change to Agronomics Limited. The General Meeting ("GM") will be held at the Claremont Hotel, Loch Promenade, Douglas, Isle of Man IM1 2LX, at 11:00 a.m. on 16 April 2019. A copy of the Circular is being posted to Shareholders and is available on the Company's website, https://www.porterinbiopharma.com.

The proposed new Investing Policy is as follows:

''The Company will invest in opportunities within the Life Sciences sector, concentrating on, but not being limited to, environmentally friendly alternatives to the traditional production of meat and plant-based nutrition sources ("Clean Food"). The Company will focus on investments that provide scalable and commercially viable opportunities.

The Company will invest in equity and equity related products in both quoted companies, which offer the benefits of liquidity, and in unquoted companies which offer the attraction of additional capital gains upon completion of a successful IPO. The Company may also invest in shares of collective investment schemes with exposure to the Life Science sector and in long-term equity anticipation securities the underlying securities of which will be based on Life Science sector securities and/or indices relating to the Life Science sector. The Fund may invest in Life Science Sector debt. Investments in Life Science sector debt shall not exceed 15 per cent. of the Net Asset Value of the Company.

The Company will be ungeared. The Company will be a passive investor.

The Company aims to deliver capital growth by realising capital gains when it considers that the valuation of individual investments looks to be excessive or, as is often the case in this sector, as a result of trade sales.

Assets and investments will be held by the Company directly or through the individual share custodians of the brokers used by the Company to acquire the shares.

Any material variation to the Investing Policy will require the approval of Shareholders at a general meeting of the Company in accordance with the AIM Rules for Companies.''

As an Investing Company, the Company's investing policy is subject to annual renewal by Shareholders to the extent it has not been fully implemented.

The expected timetable of principal events and details of the name change are as follows:

	28 March 2019
Publication of this Document	28 March 2019
Posting to Shareholders of this Document	30 March 2019
Latest time and date for receipt of Forms of Proxy	13:00 p.m. on 12 April 2019
General Meeting	11.00 a.m. on 16 April 2019
Trading expected to commence under new name and ISIN	9:00 a.m. on 23 April 2019
New Name of Company after the General Meeting	Agronomics Limited
New TIDM following the General Meeting	ANIC
New website if change of name is approved	www.agronomics.im

For further information, please contact:

Port Erin Biopharma Investments Limited	Beaumont Cornish Limited	Optiva Securities Limited
The Company	Nomad	Broker
Denham Eke [phone]	Roland Cornish/James Biddle [phone]	Jeremy King [phone]

 

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