SkinBioTherapeutics plc
("SkinBioTherapeutics" or "the Company")
Exercise
of Warrants and Total Voting Rights
24
February 2025 - SkinBioTherapeutics
plc, (AIM: SBTX, or the "Company"), the life science business
focused on skin health, announces that it received an exercise
notice for warrants from David Brierwood, following the loan
drawdown in October for the acquisition of Bio-Tech Solutions
Limited. The proceeds from the exercise of warrants into ordinary
shares will be used to reduce the amount of outstanding debt with
David Brierwood from £950,000 down to £600,000, as previously
announced on 11 October 2024.
Admission and Total Voting Rights
Application has been made for the
3,289,474 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 25 February 2025 ("Admission"). Upon Admission, the total number
of issued shares and the total number of voting rights in the
Company will be 231,725,383.
The above figure of 231,725,383
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 to continue to have the support of David
Brierwood who assisted with the financing for the acquisition of
Bio-Tech Solutions last year. This exercise reduces the amount of
outstanding debt on the balance sheet, and also the amount of
interest the Company pays. The acquisition has proved to be
an excellent addition to the Group and performance is in line with
expectations. We will update the market in due course with our
interim results which will include the financial performance of
Bio-Tech Solutions from the date of acquisition through to 31
December 2024."
-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)
|
Tel: +44 (0) 20 7220
0500
|
|
Vigo
Consulting (financial press)
Rozi Morris
|
Tel: +44 (0) 20 7390 0230
SkinBio@vigoconsulting.com
|
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Notes to Editors
About SkinBioTherapeutics plc
SkinBioTherapeutics is a life
science company focused on skin health. The Group's proprietary
platform technology, SkinBiotix®, is based upon
discoveries made by the translational dermatology team at the
University of Manchester.
The Group's foundation business is
targeting the skin healthcare market via five pillars, the most
advanced of which are cosmetic skincare (SkinBiotix) and food
supplements to modulate the immune system by harnessing the
gut-skin axis (AxisBiotix). The cosmetic pillar has a partnership
with Croda plc and the Group's first in-house product,
AxisBiotix-Ps™, is a food supplement to address the symptoms of
mild to moderate psoriasis.
The Group is also acting as a
consolidator and is making acquisitions in complementary areas such
as skin care and cosmetic applications, that also bring new
distribution and geographical platforms, and manufacturing
capabilities through which it can funnel its in-house pillar
products.
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.
