Light Science Technologies - Intention To Float

RNS Number : 7971O

Intuitive Investments Group plc

12 October 2021

 

Intuitive Investments Group plc

Light Science Technologies Holdings plc's Intention To Float Announcement

Intuitive Investments Group plc (AIM: IIG) ("IIG" or the "Company"), a closed-end investment company focussed on the life sciences sector, notes the intention to float announcement, released today by Light Science Technologies Holdings plc ("LSTH"), in relation to the proposed admission of LSTH's ordinary shares to trading on AIM ("Admission").

IIG's investment in LSTH consists of £1 million of convertible loan notes, which have a 7.25% coupon and will convert automatically at a 20% discount to LSTH's ordinary share price at Admission. IIG has also subscribed for an amount of ordinary shares equal to the interest and non-executive directors' fees due up to the date of Admission of £78,000 in the conditional placing associated with the flotation. IIG expects to receive, in aggregate, 13,280,000 ordinary shares in LSTH, representing 7.6% of its issued share capital on Admission. Admission is expected to take place on 15 October 2021.

LSTH was IIG's first investment from its pipeline of opportunities, following its successful IPO and Admission to AIM in December 2020.

For further information, please contact:

Intuitive Investments Group plc	www.iigplc.com
David Evans, Executive Chairman Robert Naylor, CEO	Via Walbrook PR
Strand Hanson Limited - Nominated Adviser	[phone]
James Dance / James Bellman
Turner Pope Investments (TPI) Ltd - Broker	[phone]
Andrew Thacker / James Pope
Walbrook PR Limited - Media & Investor Relations	[phone] or [e-mail]
Paul McManus	[phone]

About Intuitive Investments Group plc

The Company is a recently established investing company, seeking to provide investors with exposure to a portfolio concentrating on fast growing and/or high potential Life Sciences businesses operating predominantly in the UK, continental Europe and the US, utilising the Board's experience and in particular that of the Chairman, David Evans, to seek to generate capital growth over the long term for shareholders. 

 

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