Conversion of Loan Notes and Issue of Equity

RNS Number : 2020P

Byotrol PLC

29 August 2017

29 August, 2017

Byotrol plc

('Byotrol', the 'Group' or the 'Company')

Conversion of Loan Notes and Issue of Equity

Byotrol plc, the specialist anti-microbial technology company, is pleased to announce that following the Placing & Open Offer announced on 3 August 2017, the Company has reached an agreement with all the holders of its Convertible Loan Notes that they will convert all of the outstanding Convertible Loan Notes ("CLNs") into 10,857,139 new Ordinary Shares ("Conversion Shares"). The holders of the CLNs have also agreed not to sell any Ordinary Shares that they hold prior to 31 December 2017. The conversion of the CLNs into new Ordinary Shares, will allow the Company to retain £380,000 that would otherwise have been required to redeem the CLNs. In reaching agreement, the Company has agreed to reduce the conversion price from 3.7p per new Ordinary Share (as detailed in the announcement of 3 August 2017) to 3.5p per new Ordinary Share.

Accordingly, application has been made to London Stock Exchange for the 10,857,139 Conversion Shares to be admitted to trading on AIM. It is expected that admission will become effective and trading will commence in the new Ordinary Shares at 8.00 a.m. on 1 September 2017. On admission the Company's issued share capital will comprise 278,908,704 Ordinary Shares, of which none are held in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 278,908,704. This figure may 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 FCA's Disclosure Guidance and Transparency Rules

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the announcement released earlier today unless the context requires otherwise.

Contacts:

Byotrol plc 01925 742 000

David Traynor - Chief Executive

finnCap Ltd 020 7220 0500 (Nominated Adviser & Broker)

Geoff Nash/Carl Holmes/James Thompson - Corporate Finance

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

Notes to Editors:

Byotrol plc (BYOT.L), quoted on AIM, is a specialist developer of residual antimicrobial technologies, identifying, developing, formulating and commercialising cutting-edge antimicrobial solutions.

Our patented suite of technologies deliver powerful broad-spectrum efficacy with residual performance optimised against commonly occurring and industry-specific pathogens