Share Subscription and Proposed Board Appointment

Probiotix Health PLC
04 September 2024
 

4 September 2024

                                                                                                                                 

ProBiotix Health plc

("ProBiotix" or the "Company" or, together with its subsidiary, the "Group")

 

Share Subscription and Proposed Board Appointment

 

ProBiotix Health plc (AQSE: PBX), the life sciences business developing probiotics to support cardiometabolic health, announces that is has raised £1,226,400 through a share subscription with the Company (the "Subscription"). Following completion of the Subscription, the Company expects to be fully funded enabling it to fulfil all its working capital requirements with no recourse for further funding.

 

Subscription

ProBiotix is pleased to announce that Holdingselskabet af 29. Juni 2010 Aps, the family office vehicle of successful Denmark based investor and entrepreneur, Frederik Bruhn-Petersen, has subscribed for 36,500,000 new ordinary shares of 0.05p each in the Company ("Ordinary Shares", "New Ordinary Shares") at a subscription price of 3.36p per share, raising £1,226,400 (before expenses).

 

The net proceeds of the Subscription will be used to fund working capital and help the Company further its expansion by accelerating a number of significant growth opportunities.

 

The New Ordinary Shares will represent approximately 23% of the Company's issued share capital following the Subscription and will rank pari passu in all respects with the existing Ordinary Shares. Application will be made for the New Ordinary Shares to be admitted to trading on the Access Segment of the Aquis Growth Market and dealings in the New Ordinary Shares are expected to commence on 10 September 2024 ("Admission").

 

Proposed Board Appointment

Following the Subscription, the Company plans to appoint Frederik Bruhn-Petersen, the identically named son of Frederik Bruhn-Petersen, to the Board of Directors of ProBiotix as a Non-Executive Director (subject to completion of satisfactory due diligence). Frederik Bruhn-Petersen, who is currently working in a managing role for Holdingselskabet af 29. Juni 2010 Aps, has a Masters of Law Degree from Copenhagen University and is the co-founder of one of Denmark's most successful real estate companies, driving the business from a start-up phase to a national online operator.

 

Total Voting Rights

Following Admission, the Company's enlarged share capital will comprise 158,166,666 Ordinary Shares. The figure of 158,166,666 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change in their overall interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

 

Steen Andersen, CEO of ProBiotix, commented: "On behalf of the Board, I would like to thank Frederik for his support and welcome him (and his family office) as a significant new shareholder in ProBiotix, and also welcome his son Frederik as a proposed new Non-Executive Director. I have known both individuals for many years.

 

"With the business now on a strong financial footing, I look forward to working with Frederik, his son and the rest of the Board as we continue to accelerate the growth of the business."

 

This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

 

For further information, please contact:

 

ProBiotix Health plc

https://probiotixhealth-ir.com/

Steen Andersen, Chief Executive Officer

Contact via Walbrook below



Peterhouse Capital Limited (Aquis Corporate Adviser and Broker)

Tel: 020 7220 9793

Mark Anwyl

Duncan Vasey

Tel: 020 7469 0930

 


Walbrook PR Ltd

probiotix@walbrookpr.com

Anna Dunphy

Mob: 07876 741 001

 

 

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