Announcement in respect of market speculation

RNS Number : 0263I

Provexis PLC

27 June 2013

 



27 June 2013

Provexis plc

("Provexis" or "The Company")

Announcement in respect of market speculation

The board of Provexis today announces that further to speculation it is in the advanced stages of negotiating and preparing documentation for the demerger of its Science in Sport division ("SiS").

As part of the demerger, SiS will be seeking its own listing on the AIM market and will also be raising new money principally from institutions. Post demerger, Provexis will remain listed on AIM and solely focus on the commercialisation of its Fruitflow IP. Shareholders in Provexis are expected to receive one ordinary share in SiS for every ordinary share held in Provexis. The Company will be seeking shareholder approval for the demerger.

A further announcement on the above will be made by the Company at the appropriate time.

-ends-

For further information please contact:

Stephen Moon, Chief Executive

Provexis plc                                                          Tel: [phone]

Max Hartley / Bobbie Hilliam

Cenkos Securities plc                                         Tel: [phone]

Peter Rigby

Haggie Partners                                                   Tel: [phone]

 

END

 

 

MSCKMGZVMNZGFZM