TEK Tekcapital Plc

TIDMTEK

RNS Number : 3460O

Tekcapital plc

17 May 2018

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

17 May 2018

Tekcapital plc

("Tekcapital" or the "Company")

Private Placement for Belluscura plc

Tekcapital plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from university technology, is pleased to announce that following the placement announced on 14 February 2018, Belluscura plc ("Belluscura") has completed a further tranche in the private placement to raise an additional US$603,000 through the issue of equity (the "Private Placement"), through Dowgate Capital Stockbrokers, and has converted loans equal to approximately US$78,000 to equity under the same terms as the Private Placement.

This Private Placement was priced at US$0.18 (13p) per share, giving Belluscura a post-money valuation of approximately US$4.3 million. The Private Placement will continue to remain open to enable current shareholders and additional investors to participate.

Belluscura was established in the UK in December 2015 to provide premium proprietary medical devices at affordable prices. It has already launched three products with two more products in development. The proceeds of the Private Placement will be used for further investment in Belluscura's products in development, specifically the CURV(TM) oxygen concentrator and Snap III(TM) level of consciousness monitor, and for general working capital purposes.

Tekcapital's ownership interest in Belluscura is now 8,129,488 shares, representing approximately 33% of the issued share capital.

For further information, please contact:

 
   Tekcapital Plc 
   Clifford M. Gross, Ph.D.                                                       info@tekcapital.com 
   Allenby Capital Limited (Nominated Adviser 
    & Joint Broker)                                   +44 (0) 20 3328 5656 
   Jeremy Porter / Alex Brearley 
   Dowgate Capital Stockbrokers (Joint Broker)        +44 (0) 1293 517744 
   David Poutney / James Serjeant 
   Walbrook PR Ltd                                    +44 (0) 20 7933 8780 
   Paul Cornelius / Helen Cresswell / Sam             tekcapital@walbrookpr.com 
    Allen 
 
 

Tekcapital plc - The World's Largest University Network for Open Innovation

Tekcapital's objective is to create value from investing in new, university-developed intellectual properties. Additionally, using its proprietary discovery search engine, linked to 4,500+ universities in 160 countries, coupled with expert scientific review, Tekcapital provides a range of IP investment services to make it easy for organisations to find, evaluate, acquire and license university-developed technology. Tekcapital plc is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com

LEI: 213800GOJTOV19FIFZ85

This information is provided by RNS

The company news service from the London Stock Exchange

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May 17, 2018 02:00 ET (06:00 GMT)

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