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Belluscura plc announced that shareholders approved all resolutions at its General Meeting held on 16 February 2023. For each of the three resolutions, 45,373,293 votes (99.94%) were cast in favour, and 25,010 votes (0.06%) were cast against. As a result of this approval, the company confirmed it has raised total gross proceeds of approximately $5.8 million (£4.7 million) from the recent Placing and Broker Option.
| Date | 16 Feb 2023 |
| Time | 11:59:58 |
| Category | AGMs and other meetings |
| ID | 1817Q |
16 February 2023
Belluscura plc
("Belluscura", the "Company" or the "Group")
Result of General Meeting
Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces that at the General Meeting held earlier today all the resolutions put to the meeting were duly approved by Shareholders:
|
Resolution |
Votes for |
% of shares voted |
Votes against |
% of shares voted |
|
Resolution 1: To allot Shares re. Loan Notes. |
45,373,293 |
99.94% |
25,010 |
0.06% |
|
Resolution 2*: To disapply Statutory |
45,373,293 |
99.94% |
25,010 |
0.06% |
|
Resolution 3*: To amend Articles of Association re. Article 23 and limit on borrowing powers. |
45,373,293 |
99.94% |
25,010 |
0.06% |
The Company is also pleased to confirm that as a result of obtaining Shareholder approval for each of the Resolutions as they relate to the issue of the Convertible Loan Notes through the recent Placing and Broker Option, the Company has raised total gross proceeds of approximately $5.8 million (£4.7 million).
The net proceeds of the Placing and Broker Option will be used to support the Company in delivering on a successful launch of the DISCOV-R product, which is expected to be launched for pre-market evaluation by the end of Q1 2023, with full commercialisation anticipated in the latter part of Q2 2023.
Terms of the Loan Notes
As previously announced, the key terms of the Loan Notes are:
|
Instrument |
Convertible Unsecured Loan Notes. The Loan notes will be transferable but will not be listed on a public market
|
|
Issue Price |
Loan Notes of £1.00 issued at par
|
|
Conversion |
Convertible into ordinary shares at a price of 50 pence per share. Conversion at the holder's election on the final business day of each quarter and at maturity
|
|
Repayment |
On maturity, unless otherwise converted
|
|
Term |
Three years from date of issue
|
|
Coupon |
10% per annum, paid annually. The coupon to be paid in cash or capitalised at the Company's discretion
|
|
Minimum size |
£1,000
|
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ISIN |
GB00BMTXJV75
|
Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company at 12:41 on 27 January 2023 and the Company's Circular.
For further information please contact:
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Belluscura plc |
Tel: +44 (0)20 3128 8100 |
|
Adam Reynolds, Chairman Robert Rauker, Chief Executive Officer Anthony Dyer, Chief Financial Officer |
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SPARK Advisory Partners Limited (Nomad) |
Tel: +44 (0)20 3368 3550 |
|
Neil Baldwin |
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Dowgate Capital Limited (Broker) |
Tel: +44 (0)20 3903 7715 |
|
James Serjeant / Russell Cook |
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MHP (Financial PR & Investor Relations) |
Tel: +44 (0)20 3128 8100 |
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Katie Hunt / Pete Lambie / Matthew Taylor |