SkinBioTherapeutics plc
("SkinBioTherapeutics" or "the Company")
Conversion Notice and Total Voting Rights
5 April 2024 - SkinBioTherapeutics
plc, (AIM: SBTX, or the "Company"), the life science business
focused on skin health, announces that it received a Conversion
Notice on 28 March 2024 from Macquarie ("Macquarie") for £500,000
of Convertible Bonds from the £5.0 million convertible bond
facility announced on 25 January 2024. The Company has drawn a
total of £1.6 million under the Facility and further commited to
cap the facility at this amount.
SkinBioTherapeutics will issue
7,583,958 ordinary shares of £0.01 per share ("Ordinary Shares") at
a conversion price of 6.592863p per Ordinary Share.
Long term shareholders, including
Tyndall Investement Management who have invested in the Company
since IPO, have agreed to purchase the shares directly from
Macquarie Bank.
Stuart Ashman, CEO of
SkinBioTherapeutics said: "This
conversion means that £0.71m of the £1.6m we drew down for the
acquisition of Dermatonics has converted. We appreciate the
continued support we have received from the shareholders who have
been with us since IPO. We see this as a validation of what we have
achieved so far and the ongoing strategy to build scale and
financial strength."
Admission and Total Voting
Rights
Application has been made for the
7,583,958 new ordinary shares, which will rank pari passu in all respects with the
existing ordinary shares of the Company, to be admitted to AIM,
which is expected to occur on or around 8.00 a.m. on 8 April 2024
("Admission"). Upon Admission, the total number of issued shares
and the total number of voting rights in the Company will be
200,379,907.
The above figure of 200,379,907
should be used by shareholders in the Company as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in, the share capital of the Company under the Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.
-Ends-
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For
more information please contact:
|
SkinBioTherapeutics plc
Stuart J. Ashman, CEO
Manprit Randhawa, CFO
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Tel:
+44 (0) 191 495 7325
|
|
Cavendish Capital Markets Limited
(Nominated Adviser & Broker)
Giles Balleny, Dan Hodkinson
(Corporate Finance)
Charlie Combe (Broking)
Dale Bellis, Tamar Cranford-Smith
(Sales)
|
Tel:
+44 (0) 20 7220 0500
|
|
Instinctif Partners (financial press)
Melanie Toyne-Sewell / Jack
Kincade
|
Tel:
+44 (0) 20 7457 2020
SkinBioTherapeutics@instinctif.com
|
About SkinBioTherapeutics plc
SkinBioTherapeutics is a life
science company focused on skin health. The Company's proprietary
platform technology, SkinBiotix®, is based upon
discoveries made by the translational dermatology team at the
University of Manchester.
The Company is targeting a number of
skin healthcare sectors, the most advanced of which are cosmetic
skincare and food supplements to modulate the immune system by
harnessing the gut-skin axis. In each area SkinBioTherapeutics
plans to exemplify its technology through human studies. The
Company's first product, AxisBiotix-Ps™, a food supplement to
address the symptoms of mild to moderate psoriasis.
The Company listed on AIM in April
2017 and is based in Newcastle, UK. For more information,
visit: www.skinbiotherapeutics.com
and www.axisbiotix.com.