Belluscura First Day of Dealings on AIM

RNS Number : 1637A

Tekcapital plc

28 May 2021

 

 This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

28 May 2021

Tekcapital Plc

("Tekcapital", the "Company" or the "Group")

Belluscura Plc ("Belluscura") IPO

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group focused on creating valuable products from investing in university technologies that can improve quality of life, is pleased to announce that its portfolio company Belluscura plc has been admitted to the AIM Market of the London Stock Exchange and will commence trading today.  Its ordinary shares trade on the AIM market under ticker BELL.

Belluscura's announcement to this effect can be accessed via the following link:

Admission to trading on AIM; First Day of Dealings - 07:00:06 28 May 2021 - BELL News article | London Stock Exchange

Tekcapital holds 17.1m shares of Belluscura plc.  At the IPO Price of 45 pence per Belluscura share, Tekcapital's holding is worth ~ US$10.8m, which represents an uplift of ~US$8.8m, on the book value of the Company's holding in Belluscura (as at 30 November 2020).  As part of the IPO process, TekCapital's shares are subject to a 12 month lock-in period as required by AIM Rule 7.

"Our congratulations to Robert Rauker and the Belluscura team on a job well done! The IPO of Belluscura represents the first public listing of one of TekCapital's portfolio companies. It has been achieved at a valuation which is substantially higher than the book value of the Company's holding in Belluscura and we are delighted that the fundraise was oversubscribed. We look forward to following Belluscura's success on AIM going forward."  said Dr. Clifford Gross, Executive Chairman of Tekcapital.

For further information, please contact:

Tekcapital Plc		Via Flagstaff
Clifford M. Gross, Ph.D.
SP Angel Corporate Finance LLP (Nominated Adviser and Broker)		[phone]
Richard Morrison/Charlie Bouverat (Corporate Finance) Abigail Wayne / Rob Rees (Corporate Broking)
Flagstaff Strategic and Investor Communications		[phone]
Tim Thompson/Andrea Seymour/Fergus Mellon

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com .

LEI: 213800GOJTOV19FIFZ85

Forward-Looking Statements

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Tekcapital or Belluscura that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Tekcapital or Belluscura may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Tekcapital does not intend, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated .

 

END

 

 

MSCSEUSMAEFSESI