Completion of Acquisition

RNS Number : 4588M

HeiQ PLC

12 January 2023

 

12 January 2023

HeiQ Plc

("HeiQ" or "the Company")

Completion of Acquisition, Share Issuance and Total Voting Rights

HeiQ Plc (LSE: HEIQ), a leading company in materials innovation and hygiene technologies, announces the completion of the acquisition of Tarn-Pure Holdings Ltd and the issuance of new ordinary shares to part satisfy consideration payable.

Further to the Company's announcement released on 4 January 2023, HeiQ will pay a total consideration of approximately £0.85m. Including closing adjustments to the consideration and repayments of debts, the Company will pay £530,000 in cash with the balance to be satisfied through the issuance of 455,435 new ordinary shares of 30p each in the Company (the "Consideration Shares") to the vendors, issued at a price of 69.6p per share which represents a significant premium to the current share price.

As previously announced, Tarn-Pure is a UK-based intellectual property company holding critical EU and UK regulatory registrations to sell elemental copper and elemental silver for use in disinfecting hygiene applications. HeiQ generates significant silver technology sales and the acquired regulatory asset will enable it to further increase these sales.

Issue of Equity and Total Voting Rights 

Applications will be made for the Consideration Shares to be admitted to the standard segment of the Official List, and to trading on the London Stock Exchange's Main Market ("Admission").

It is expected that Admission will become effective, and that dealings in the new Ordinary Shares are expected to commence, at 08.00 a.m. on 16 January 2023.

Following Admission, the total number of Ordinary Shares in issue will be 140,537,907 and the total number of voting rights will therefore be 140,537,907. This figure may be used by shareholders 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.

For further information, please contact:

HeiQ Plc Carlo Centonze (CEO)	[phone]
Cenkos Securities plc (Broker) Stephen Keys / Callum Davidson	[phone]
SEC Newgate (Media Enquiries) Elisabeth Cowell / Axaule Shukanayeva / Molly Gretton	[phone] HeiQ@s ecnewgate .co.uk

About HeiQ

HeiQ is focused on improving the lives of billions of people world-wide by innovating the materials people use every day. HeiQ has strong IP which is at the forefront of global technology in the $10 billion antimicrobial fabrics market, $24 billion textile chemicals market, the $50 billion probiotics market and the $150 billion man-made fibers market. It has also moved into the medical device, healthcare and hygiene coatings markets, to help make hospitals and healthcare environments more hygienic. HeiQ aims to deliver growth for its shareholders through a combination of increased sales of its core products and by entering additional lucrative markets through disruptive innovations and M&A.

HeiQ has created some of the most effective, durable and high-performance technologies in the market today, which cool, warm, dry, repel, purify, and destroy viruses. Since 2005, HeiQ has developed over 200 technologies in partnership with 300 major brands and it has a significant R&D pipeline containing over 50 projects. The Company has won multiple awards and gained a strong reputation for the ESG & sustainable downstream effect of its innovations. HeiQ is the only company to have won the Swiss Technology award twice. It has also won the Swiss Environmental award with an innovation that saves energy and water consumption during the textile manufacturing process.

Led by an experienced leadership team, HeiQ researches new solutions for partners, delivers scaled up manufacturing from its sites across the world and helps partners market the product to end consumers - aiming for lab to consumer in months.

 

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