SkinBioTherapeutics plc
("SkinBioTherapeutics" or "the Company")
Closure
of Convertible Bond Facility
Final
Conversion Notice and Total Voting Rights
23
July 2024 - SkinBioTherapeutics plc,
(AIM: SBTX, or the "Company"), the life science business focused on
skin health, announces that it received the final Conversion Notice
on 22 July 2024 from Macquarie ("Macquarie") for £480,000 of
Convertible Bonds from the initial £5.0 million convertible bond
facility announced on 25 January 2024.
The Company has drawn a total of
£1,600,000 under the Facility, and will not be drawing any further
funds from the facility, as announced on 28 February
2024.
SkinBioTherapeutics will issue
5,848,620 ordinary shares of £0.01 per share ("Ordinary Shares") at
a conversion price of 8.207064p per Ordinary Share.
Admission and Total Voting Rights
Application has been made for the
5,848,620 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 26 July 2024 ("Admission"). Upon Admission, the total number of
issued shares and the total number of voting rights in the Company
will be 211,210,526.
Existing investors and a new,
undisclosed institutional investor have agreed to purchase the
shares directly from Macquarie Bank.
The above figure of 211,210,526
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.
Stuart Ashman, CEO of SkinBioTherapeutics,
said:
"We are pleased that the CLN has now come to an end. Having
listened to shareholder sentiment, we made the decision not to use
the remainder of the facility. We have worked to reduce the initial
loan note as swiftly as possible. Whilst the term of the note was
designed to span two years, the entire facility has now been
converted within six months of its introduction and therefore we
have halted any further drawdowns. We are grateful for the support
from existing investors and our new institutional investor, which
has enabled us to clear the Convertible Bond facility
completely."
-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.
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For
more information please contact:
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SkinBioTherapeutics plc
Stuart J. Ashman, CEO
Manprit Randhawa, CFO
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Tel: +44 (0) 191 495
7325
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Cavendish Capital Markets Limited
(Nominated Adviser & Broker)
Giles Balleny, Dan Hodkinson
(Corporate Finance)
Charlie Combe (Broking)
Dale Bellis, Tamar Cranford-Smith
(Sales)
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Tel: +44 (0) 20 7220
0500
|
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Vigo
Consulting (financial press)
Rozi Morris
|
Tel: +44 (0) 207 390
0230
Tel: +44 (0) 7949 562
668
SkinBioTherapeutics@vigo.com
|
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Notes to Editors
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.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identified by their use of terms and phrases such as ''believe'',
''could'', "should" ''envisage'', ''estimate'', ''intend'',
''may'', ''plan'', ''potentially'', "expect", ''will'' or the
negative of those, variations or comparable expressions, including
references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current
expectations and assumptions regarding the Group's future growth,
results of operations, performance, future capital and other
expenditures (including the amount, nature and sources of funding
thereof), competitive advantages, business prospects and
opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on
information currently available to the Directors.