Half-year Report

RNS Number : 9506X

Nuformix PLC

24 December 2019

 

Nuformix plc

("Nuformix" or "the Group"),

Unaudited Half Year Results

for the six months ended 30 September 2019

Significant Progress in Lead Programmes

Cambridge, UK, 24 December 2019: Nuformix (LSE: NFX), the pharmaceutical development Group using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs, announces the Group's unaudited results for the six months ended 30 September 2019.

Financial Highlights

·     Net assets at period end of £3,980,126 (2018: £4,616,176) which includes cash at bank of £132,764 (2018: £32,660).

·     Total revenue in the period of £535,000 (2018: £610,000).

·     Loss on ordinary activities in the period of £131,842 (2018: loss of £642,633) and the loss per share was 0.03p (2018: loss of 0.14p). The reported loss in 2019 included share-and warrant-based charges of £56,933 (2018: £765,667).

·     Successful placing on 23 December 2019 raising cash of £1.25 million before issue expenses.

Operational Highlights

·     Successful outcome of NXP001 pilot bioequivalence study

o  NXP001 programme completed in accordance with Newsummit Biopharma agreement

o  Additional out-licensing and development opportunities for NXP001 are currently under evaluation

·     Completion of Ebers Strategic Cannabinoid Development agreement

o  First patent filed from the collaboration and progress remains on track to deliver further milestones within the current financial year

·     NXP002 progression towards clinic

o  Partnerships in place to support development of NXP002 as an inhaled therapy for Idiopathic Pulmonary Fibrosis ("IPF") and IPF-induced cough

o  Discussions with development partners commenced

o  Assembling expert team to progress to patient studies

·     Pipeline Update

o  Continued growth of early-stage portfolio following discovery of new drug cocrystals with applications in fibrosis and oncology

o  NXP004 entered into pipeline for a new indication with a high unmet need

Commenting on the outlook, Dr Dan Gooding, CEO, Nuformix plc said: "We have achieved significant progress during the period, both operationally and within our lead programmes. Our results strongly validate the Group's strategy to retain low operational costs whilst generating revenues from both out-licensing and collaborative development. We have reached a significant milestone for our NXP001 programme and our attention now turns to NXP002 and progression towards the clinic and patients. Commercially, we look forward to further progress in our cannabinoid development agreement with Ebers whilst progressing out-licensing discussions with multiple parties for NXP002 and our wider portfolio."

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries:

Nuformix plc Dr Dan Gooding, Chief Executive Officer Email: [e-mail]	[phone]
Novum Securities Limited Jon Belliss / Colin Rowbury	[phone]

About Nuformix plc

Nuformix is a pharmaceutical development Group using cocrystal technology to unlock the therapeutic potential of approved small molecule drugs. Nuformix's risk-mitigated development strategy has resulted in a pipeline of discoveries through which it has developed and patented novel cocrystal forms of approved small molecules.

Nuformix has created an IP portfolio of granted patents covering cocrystal forms of five small molecule drugs. Nuformix is targeting high-value unmet needs with its lead programmes in oncology supportive care: NXP001 and fibrosis: NXP002.

Nuformix was established in Cambridge in 2009 and has invested in pharmaceutical cocrystal R&D, establishing world-class capability and know-how in cocrystal discovery and development, yielding multiple product opportunities. 

Nuformix plc shares are traded on the London Stock Exchange's Official List under the ticker: NFX.L.

For further information please visit www.nuformix.com 

Half Year Report

Nuformix plc ("the Company") and its subsidiary (together, "the Group") is pleased to update shareholders regarding the Group's developments during the first half of the year ending 30 September 2019 and subsequent events to date in the second half.

Operational Highlights

·     NXP001

o  NXP001 programme completed in accordance with Newsummit Biopharma agreement

o  NSB has provided written confirmation of its intention to pay the remaining amounts owed

·     Completion of Ebers Strategic Cannabinoid Development agreement

o  Partnership with Ebers for cannabinoid therapeutics development, licensing and commercialisation for up to £51 million in upfront, R&D and milestone payments, plus long-term royalties of 20% of net sales

o  £535,000 income received year-to-date

o  First patent filed from the collaboration and progress remains on track to deliver further milestones within the current financial year

·     NXP002 progression towards clinic

o  Partnerships in place to support development of NXP002 as an inhaled therapy for Idiopathic Pulmonary Fibrosis (IPF) and IPF-induced cough

o  Discussions with development partners commenced

o  Assembling expert team to progress to patient studies

·     Continued pipeline development

o  Growth of early-stage portfolio following discovery of new drug cocrystals with applications in fibrosis and oncology

o  NXP004 entered into pipeline for a new indication with a high unmet need

Half Year Overview

The Group operates in the field of complex scientific research, specifically drug development through the use of cocrystallisation.

H1 2020 was a year of progress. The Group has focused all efforts and resources into progressing its lead programmes and successfully completed its first clinical development study for Nuformix's lead product NXP001, demonstrating rapid translation of its applications of cocrystal technology into human use in line with its strategy.

The Group is developing an innovative pipeline of products using its cocrystal technology platform. This exciting platform can unlock the potential of existing small molecule drugs for new uses in areas of high unmet medical need. Nuformix is working with drugs already shown to be safe and accesses existing pre-clinical and clinical data to progress its programmes. This approach significantly de-risks the traditional biopharma business model by enabling dramatically accelerated entry into clinical trials at reduced cost with drug safety already demonstrated.

The Group is focused on creating value from its growing intellectual property portfolio. It aims to out-licence lead programmes after proof-of-concept studies and to reinvest revenue into its pipeline to maximise mid- to long-term shareholder value. IP licensing and collaborative development revenues are sufficient to fund further pipeline development into 2021 thereby maximising shareholder value.

Nuformix is operating under a lean burn business model as a semi-virtual organisation. The discovery of new cocrystals is conducted in-house, with onward development then managed through external expert CROs to minimise costs. Speed is a key differentiator in clinical development; known drug compounds allow for shorter clinical trial pathways with known approval hurdles at lower cost.

During H1 2020 the Group has completed a significant new deal, generated revenues and hit important milestones within its partnerships, with further payments expected to come in H2 2020.

As a result, the Group is able to report net assets at period end of £3,980,126 (2018: £4,616,176) which includes cash at bank of £132,764 (2018: £32,660). Total revenue in the period is £535,000 (2018: £610,000). Loss on ordinary activities in the period is £131,842 (2018: loss of £642,633) and which in 2019 included share- and warrant-based charges of £56,933 (2018: £765,667). The loss per share is 0.03p (2018: loss of 0.14p).

Team

During the period, the Group has begun to broaden and strengthen its team as it prepares to commence clinical activities in IPF, with Dr Muhunthan Thillai joining the Group's Advisory Panel. This addition provides the Group with invaluable experience in the design and execution of clinical studies in IPF.

Outlook

Going forward the Group expects an exciting H2 2020. The first major milestone for this year has already been achieved following the successful completion of the first clinical trial with NXP001, validating the Group's platform and demonstrating it can rapidly translate its applications of cocrystal technology into human use.

The pre-clinical and clinical data generated for NXP001 completes Nuformix's activities within the programme in accordance with its agreement with Newsummit Biopharma and Nuformix has received written confirmation of Newsummit Biopharma's intention to pay the amounts owed as part of ongoing discussions to extend its working relationship with the Group. Nuformix continues to explore additional development opportunities within oncology supportive care programmes with discussions at an early stage with additional development partners.

A second major achievement for the year involves the deal with Ebers Tech Inc to develop cannabinoid cocrystals covering a wide range of cannabinoid molecules and potential indications. The deal has brought in immediate revenue, with further payments driven by on-going research activities, patent filings and pre-clinical milestones. Multiple cannabinoids are currently under development using Nuformix's technology platform. Income from Ebers-related activities continues to support Nuformix's low operating costs. After the period, Ebers raised an undisclosed sum to support the development of products emerging from this collaboration which are at an early stage whilst Nuformix and Ebers focus on securing further IP.

In fibrosis, the Group has recently announced its intentions to develop NXP002 as a potential inhaled therapy for IPF and IPF-induced cough, an untreated side effect of IPF that severely affects over 80 per cent of patients. Inhaled IPF treatment offers the prospect of reduced competition, increased efficacy and reduced side effects; overall a more commercially attractive product. The inclusion of IPF-induced cough reduces development risk with proof-of-concept demonstrated. Nuformix will continue to work with its advisors and partners to finalise its overall clinical development strategy. The Group aims to secure development partnerships that will accelerate its path to clinic and inflection points in its key fibrosis programmes.

After the period, the Group announced completion of a placing to raise £1.25 million before expenses, allowing Nuformix to strengthen its overall position during negotiations for NXP002 and accelerate progress within two promising programmes following recent research results. Funds from the Placing will allow Nuformix to drive progress in its NXP002 and NXP004 programmes.

NXP004 is a new breakthrough entry to the Nuformix pipeline and is based on a recently approved targeted oncology therapy currently experiencing significant sales growth. The Group has identified innovative applications for NXP004 in multiple new indications with high unmet needs. Placing proceeds will be used to fast-track NXP004 research and development activities, generating data to secure patent protection and further validate the envisaged applications, thus supporting commencement of commercial discussions.

The validation in clinic established for our underlying technology, the subsequent de-risking of Nuformix's growing pipeline and the completion of the Ebers deal confirm our business model is working to deliver significant growth in shareholder value in 2019/2020.

Dr Dan Gooding, CEO 24 December 2019

Dr David Tapolczay, Chairman

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

Nuformix plc

Dr Dan Gooding, Chief Executive Officer                                            [phone]

Nuformix plc

Unaudited Interim Results

Consolidated Income Statement and Statement of Comprehensive Income for the

Half Year Ended 30 September 2019

	Note	30 September 2019 Unaudited £	30 September 2018 Unaudited £	31 March 2019 Audited £
Revenue		535,000	610,000	610,000
Cost of sales		(105,417)	(79,433)	(537,527)
Gross profit		429,583	530,567	72,473
Administrative expenses before exceptional items		(500,110)	(419,410)	(911,683)
Exceptional items	4	(56,933)	(765,667)	(975,926)
Total administrative expenses		(557,043)	(1,185,077)	(1,887,609)
Other operating income		1,800	2,863	4,624
Operating loss		(125,660)	(651,647)	(1,810,512)
Finance costs		(6,182)	(10,986)	(32,210)
Loss before tax		(131,842)	(662,633)	(1,842, 722)
Income tax receipt		-	20,000	181,495
Loss for the period and total comprehensive income for the period		(131,842)	(642,633)	(1,661,227)
Loss per share - basic and diluted	5	0.03p	0.14p	0.36p

Nuformix plc

Registration number: 09632100

Unaudited Interim Results

Consolidated Statement of Financial Position as at 30 September 2019

	Note	30 September 2019 Unaudited £	30 September 2018 Unaudited £	31 March 2019 Audited £
Assets
Non-current assets
Property, plant and equipment	6	28,628	32,904	27,520
Intangible assets	7	4,255,755	4,272,257	4,260,353
		4,284,383	4,305,161	4,287,873
Current assets
Trade and other receivables		134,152	702,640	162,865
Income tax asset		-	146,796	179,850
Cash and cash equivalents		132,764	32,660	4,261
		266,916	882,096	346,976
Total assets		4,551,299	5,187,257	4,634,849
Equity and liabilities
Equity
Share capital	8	469,467	460,750	460,750
Share premium		3,163,578	2,932,590	2,932,590
Merger relief reserve		10,950,000	10,950,000	10,950,000
Reverse acquisition reserve		(8,005,195)	(8,005,195)	(8,005,195)
Share option reserve		1,765,185	1,490,504	1,708,252
Retained earnings		(4,362,909)	(3,212,473)	(4,231,067)
Total equity		3,980,126	4,616,176	3,815,330
Current liabilities
Trade and other payables		556,121	530,394	804,408
Loans and borrowings		15,052	40,687	15,111
		571,173	571,081	819,519
Total equity and liabilities		4,551,299	5,187,257	4,634,849

Nuformix plc

Unaudited Interim Results

Consolidated Statement of Changes in Equity for the Half Year Ended 30 September 2019

	Share capital £	Share premium £	Merger Relief Reserve £	Reverse acquisition reserve £	Share option reserve	Retained earnings £	Total £
At 31 March 2018	460,750	2,932,590	10,950,000	(8,005,195)	724,837	(2,569,840)	4,493,142
Loss for the half year and total comprehensive loss	-	-	-	-	-	(642,633)	(642,633)
Share and warrant based payment	-	-	-	-	765,667	-	765,667
As at 30 September 2018	460,750	2,932,590	10,950,000	(8,005,195)	1,490,504	(3,212,473)	4,616,176
Loss for the half year and total comprehensive loss	-	-	-	-	-	(1,018,594)	(1,018,594)
Issue of share capital	-	-	-	-	-	-	-
Share and warrant based payment	-	-	-	-	210,259	-	210,259
Equity element of convertible loan note	-	-	-	-	7,489	-	7,489
At 31 March 2019	460,750	2,932,590	10,950,000	(8,005,195)	1,708,252	(4,231,067)	3,815,330
Loss for the half year and total comprehensive income	-	-	-	-	-	(131,842)	(131,842)
Issue of share capital	8,717	230,988	-	-	-	-	239,705
Share and warrant based payment	-	-	-	-	56,933	-	56,933
As at 30 September 2019	469,467	3,163,578	10,950,000	(8,005,195)	1,765,185	(4,362,909)	3,980,126

Nuformix plc

Unaudited Interim Results

Consolidated Statement of Cash Flows for the Half Year Ended 30 September 2019

	Note	30 September 2019 Unaudited £	30 September 2018 Unaudited £	31 March 2019 Audited £
Cash flows from operating activities
Loss for the year		(131,842)	(642,633)	(1,661,227)
Adjustments to cash flows from non-cash items
Depreciation and amortisation		27,804	26,377	52,815
Finance costs/ (income)		6,182	(10,986)	32,208
Income tax expense		-	(20,000)	(181,495)
Share and warrant based payment		56,933	765,667	975, 926
Equity element of convertible loan note		-	-	7,489
		(40,923)	118,425	(774,284)
Working capital adjustments
(Increase) decrease in trade and other receivables		28,713	360,650	17,457
Increase (decrease) in trade and other payables		(249,991)	(785,020)	260,604
Cash generated from operations		(262,201)	(305,945)	(496,223)
Income taxes (paid)/received		181,495	-	196,881
Net cash flow from operating activities		(80,706)	(305,945)	(299,342)
Cash flows from investing activities
Acquisitions of property plant and equipment		(24,314)	-	(1,277)
Disposals of property plant and equipment		-	-	149
Acquisition of intangible assets		(24,314)	-	(26,148)
Net cash flows from investing activities		(24,314)	-	(27,276)
Cash flows from financing activities
Proceeds of share issue		239,705	-	-
Interest paid		(5,112)	(774)	(3,483)
Foreign exchange gains / (losses)		(1,070)	1,212	(3,805)
Net cash flows from financing activities		233,523	438	(7,288)
Net increase in cash and cash equivalents		128,503	(305,507)	(333,906)
Cash and cash equivalents at start of period		4,261	338,167	338,167
Cash and cash equivalents at end of period		132,764	32,660	4,261

Nuformix plc

Unaudited Interim Results

Notes to the Consolidated Financial Statements for the Half Year Ended

30 September 2019

1. Basis of preparation of interim financial information

The consolidated interim financial statements have been prepared in accordance with the recognition and measurement principles of International Financial Reporting Standards as endorsed by the European Union ("IFRS") and expected to be effective at the year-end of 31 March 2019.

Accounting policies remain unchanged from the financial statements for the year ended 31 March 2019.

The interim financial statements are unaudited and do not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. Statutory accounts for the year ended 31 March 2019, prepared in accordance with IFRS, have been filed with the Registrar of Companies. The Auditors' Report on these accounts was unqualified and included a reference to which the Auditors drew attention by way of an emphasis of matter, without qualifying their report, that a material uncertainty existed that might cast significant doubt on the Group's ability to continue as a going concern at that time. The Auditors' Report did not contain any statements under section 498 of the Companies Act 2006.

The consolidated interim financial statements are for the 6 months to 30 September 2019.

The interim consolidated financial information do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the group's annual financial statements for the year ended 31 March 2019, which were prepared in accordance with IFRS's as adopted by the European Union.

2. Basis of consolidation

On 16 October 2017 the Company acquired the entire issued ordinary share capital of Nuformix Technologies Limited and became the legal parent of Nuformix Technologies Limited. The accounting policy adopted by the Directors applies the principles of IFRS 3 (Revised) "Business Combinations" in identifying the accounting parent as Nuformix Technologies Limited and the presentation of the Group consolidated statements of the Company (the legal parent) as a continuation of financial statements of the accounting parent or legal subsidiary (Nuformix Technologies Limited).

The interim consolidated financial statements cover the six months ended 30 September 2019. The interim financial statements for the comparative period ended 30 September 2018 represent the substance of the reverse acquisition and are those of Nuformix Technologies Limited.

3. Going concern

The financial statements have been prepared on the going concern basis of preparation which, inter alia, is based on the directors' reasonable expectation that the Group has adequate resources to continue to operate as a going concern for at least twelve months from the date of their approval. In forming this assessment, the directors have prepared cashflow forecasts covering the period ending 31 December 2020 which take into account the likely run rate on overheads and research expenditure and the prudent expectations of income from its lead programmes.

Whilst there can be no guarantee of the successful outcome of future trials, in compiling the cashflow forecasts the directors have made cautious estimates of the likely outcome of such trials, when income might be generated and have considered alternative strategies should projected income be delayed or fails to materialise. These strategies include postponing non-committed research expenditure, securing alternative licensing arrangements from those currently planned and using the Group's established network of licensed brokers for fundraising.

After careful consideration, the directors consider that they have reasonable grounds to believe that the Group can be regarded as a going concern and, for this reason, they continue to adopt the going concern basis in preparing the Group's financial statements.

4 Exceptional Item

As part of the reverse acquisition the Group issued a number of options and warrants to existing directors, new directors and for the provision of professional services in relation to the successful completion of the transaction and in respect of the new directors' future service. Details of the share-based payments can be found in note 9.

	30 September 2019 Unaudited £	30 September 2018 Unaudited £	31 March 2019 Audited £
Share option charge	6,175	765,667	828,427
Warrant charge	50,758	-	147,499
	56,933	765,667	975,926

5 Loss per Share

Loss per share is calculated by dividing the loss after tax attributable to the equity holders of the Group by the weighted average number of shares in issue during the period.

The basic earnings per share for each comparative period is calculated by dividing the loss of the legal entity in each of those periods by the legal entities historical weighted average number of shares outstanding multiplied by the exchange ratio.

	30 September 2019 Unaudited £	30 September 2018 Unaudited £	31 March 2019 Audited £
Loss after tax	(131,842)	(642,633)	(1,661,227)
Weighted average number of shares - basic and diluted	467,323,107	460,750,000	460,750,000
Basic and diluted loss per share	0.03p	0.14p	0.36p

6 Property, Plant and Equipment

	Leasehold improvements £	Computer equipment £	Laboratory equipment £	Total £
Cost or valuation
At 31 March 2018	32,204	17,344	8,762	58,310
Additions	-	-	970	970
At 30 September 2018	32,204	17,344	9,732	59,280
Additions	-	308	-	308
Disposals	-	(165)	-	(165)
At 31 March 2019	32,204	17,487	9,732	59,423
Additions	-	751	6,448	7,199
At 30 September 2019	32,204	18,238	16,180	66,622
Depreciation
At 31 March 2018	5,367	8,189	7,261	20,817
Charge	3,220	1,930	409	5,559
At 30 September 2018	8,587	10,119	7,670	26,376
Charge	3,220	1,912	409	5,541
Eliminated on disposal	-	(14)	-	(14)
At 31 March 2019	11,807	12,017	8,079	31,903
Charge	3,220	1,741	1,130	6,091
At 30 September 2019	15,027	13,758	9,209	37,994
Carrying amount
At 30 September 2018	23,617	7,225	2,062	32,904
At 31 March 2019	20,397	5,470	1,653	27,520
At 30 September 2019	17,177	4,480	6,971	28,628

7 Intangible Assets

	Goodwill £	Patents £	Total £
Cost
At 31 March 2018	4,023,484	390,993	4,414,477
Additions	-	16,448	16,448
At 30 September 2018	4,023,484	407,441	4,430,925
Additions	-	9,700	9,700
At 31 March 2019	4,023,484	417,141	4,440,625
Additions	-	17,115	17,115
At 30 September 2019	4,023,484	434,256	4,457,740
Amortisation
At 31 March 2018	-	138,557	138,557
Amortisation charge	-	20,111	20,111
At 30 September 2018	-	158,668	158,668
Amortisation charge	-	21,604	21,604
At 31 March 2019	-	180,272	180,272
Amortisation charge	-	21,713	21,713
At 30 September 2019	-	201,985	201,985
Net book value
At 30 September 2018	4,023,484	248,773	4,272,257
At 31 March 2019	4,023,484	236,869	4,260,353
At 30 September 2019	4,023,484	232,271	4,255,755

For impairment testing purposes, management consider the operations of the Group to represent a single cash-generating unit ("CGU") focused on research and development. Consequently, the goodwill is effectively allocated and considered for impairment against the business as a whole being the single CGU.

8 Share Capital

Allotted, called up and fully paid shares

	30 September 2019 Unaudited		30 September 2018 Unaudited		31 March 2019 Audited
	No.	£	No.	£	No.	£
Ordinary shares of £0.001 each	469,466,512	469,467	460,750,000	460,750	460,750,000	460,750

On 16 May 2019 8,716,512 Ordinary shares of £0.001 each were issued fully paid at an exercise price of 2.75p each under the terms of a Convertible Loan Agreement dated 18 April 2017 (as amended).

On 24 October 2019 following the receipt of Notice of Exercise, 250,000 Ordinary shares of £0.001 each were issued to the warrant holder following exercise at the agreed price of 4p per share.

On 23 December 2019 a share placing raising cash of £1.25 million before expenses via the issue of 17,857,142 new Ordinary Shares of £0.001 each. Additionally the Group issued 1,321,429 new Ordinary Shares in settlement of certain expenses of the placing and other corporate overheads.

9 Share Options and Warrants

The Group operates share-based payments arrangements to remunerate directors and key employees in the form of a share option scheme. Equity-based share-based payments are measured at fair value (excluding the effect of non-market based vesting conditions) at the date of grant. The fair value is determined at the grant date of the equity-settled share-based payments is expensed on a straight line basis over the vesting period, based on the Group's estimate of shares that will eventually vest and adjusted for the effect of non-market based vesting conditions.

On 10 May 2019 Dr Chris Blackwell was granted warrants to subscribe for 3,000,000 new Ordinary shares of £0.001 at an exercise price of 4p each and exercisable at any time within two years under the terms of his appointment as director of the Group. The fair value of the warrants was determined using the Black-Scholes option pricing model at 1.085p per warrant.

On 16 May 2019 warrants to subscribe for 8,716,512 new Ordinary shares of £0.001 were issued at 2.75p each exercisable at any time within five years under the terms of a Convertible Loan Agreement dated 18 April 2017 (as amended). 134,694 of these warrants were awarded during this period and the fair value of the warrants was determined using the Black-Scholes option pricing model and was an average of 4.515p per warrant.

On 3 September 2019 the Group agreed to grant Dr Muhunthan Thillai options to subscribe for up to 6,000,000 new ordinary shares of £0.001 conditional upon the achievement of various clinical development milestones. The directors' assessment of the accounting value of the likelihood of achievement attributable to the period from 3 September to the period end is £6,175.

Statement of Directors Responsibilities

We confirm that to the best of our knowledge:

1.    the interim condensed set of financial statements has been prepared in accordance with IAS 34 'Interim Financial Reporting' as issued by the IASB and adopted by the EU;

2.    the interim management report includes a fair review of the information required by:

2.1.  DTR 4.2.7R of the Disclosure Guidance and Transparency Rules, being an indication of important events that have occurred during the first six months of the financial year and their impact on the condensed set of financial statements; and a description of the principal risks and uncertainties for the remaining six months of the year; and

2.2.  DTR 4.2.8R of the Disclosure Guidance and Transparency Rules, being related party transactions that have taken place in the first six months of the current financial year and that have materially affected the financial position or performance of the entity during that period; and any changes in the related party transactions described in the last annual report that could do so.

The directors of Nuformix PLC are listed in the Group's 2019 Annual Report and Accounts.

D Gooding

Chief Executive

Further copies of this document are available from the company's registered address and will be available on the company's website later today.

Nuformix plc

Registration number: 09632100

 

END

 

 

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