Change in major shareholding

RNS Number : 4990K

Provexis PLC

21 April 2010

 



Provexis PLC

Change in major shareholding

Provexis plc (PXS.L) ("Provexis" or the "Company"), which focuses on the discovery, development and licensing of scientifically-proven functional food, medical food and dietary supplement technologies announces it has today been informed that DSM Venturing, a significant shareholder in Provexis, has sold 33,000,000 ordinary shares of 0.1p pence ("Ordinary Shares"). Following this sale, DSM Venturing have a shareholding of 197,769,230 Ordinary Shares, representing 17.8 per cent. of the issued share capital of the Company.

DSM Venturing acquired its holding in the Company in August 2008. The directors of the Company (the "Directors") have been informed that the above sale is in-line with DSM's prudent investment policy and does not detract from their long-term stated commitment as a strategic investor in Provexis.

The directors believe it is important to clarify that DSM Venturing, while part of the DSM wider group, is independent of DSM Nutritional Products who the company is currently in negotiations with in relation to a long-term alliance. DSM Venturing operates as an active investor in emerging companies. DSM Nutritional Products is a leading supplier of vitamins, carotenoids and other fine chemicals to the feed, food, pharmaceutical and personal care industries.

The directors are happy to confirm to shareholders that discussions between Provexis and DSM Nutritional Products in relation to a long term alliance for the commercialisation of Fruitflow and other emerging technologies are on track and in line with the Letter of Intent announced on 12 February 2010.

21 April 2010

Enquiries:

Provexis Plc    Stephen Moon, Chief Executive Ian Ford, Finance Director	Tel: [phone]
Evolution Securities Ltd Sam Plumptre/Bobbie Hilliam	Tel: [phone]
Haggie Financial LLP Nicholas Nelson/Alex Parry	Tel: [phone] [e-mail]

 

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