THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF THE MARKET ABUSE REGULATION (EU) NO.596/2014, WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"), AS AMENDED.

1 June 2023

Belluscura plc 

("Belluscura", the "Company" or the "Group") 

Result of Retail Offer

Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, is pleased to announce that further to the Company's announcement at 11:15 a.m. on 25 May 2023, the Company has conditionally raised gross proceeds of approximately £0.1 million through the issue of 386,240 New Ordinary Shares at a price of 25 pence to existing retail investors of the Company, via the BookBuild Platform, in addition to the £3.0 million raised in the conditional Placing and Subscriptions.

Consequently, 12,000,000 New Ordinary Shares will be issued in connection with the Placing and Subscriptions and 386,240 New Ordinary Shares will be issued in connection with the Retail Offer, resulting in a total of 12,386,240 New Ordinary Shares being issued pursuant to the Fundraising, raising total gross proceeds of approximately £3.1 million.

The Fundraising is conditional on, inter alia, shareholder approval of the Resolutions to be proposed at a General Meeting of the Company to be held at 11.00 a.m. on 14 June 2023.

Application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. Admission is expected to take place, and dealings on AIM in the Placing Shares, Subscription Shares and Retail Shares are expected to commence, at 8.00 a.m. on or around 16 June 2023.

Retail Offer highlights

·    The Retail Offer has been subscribed for by existing investors via the BookBuild Platform

·    The net proceeds of the Fundraising receivable by the Company will be used principally:

·    to finalise the development of the DISCOV-R;

·    to complete the pre-market evaluation and launch of the DISCOV-R; and

·    for Group working capital

·   Subject to, inter alia, the passing of the Resolutions at the General Meeting, Admission of the New Ordinary Shares to trading on AIM is expected to occur on or around 16 June 2023

·    The Fundraising is not being underwritten (in whole or in part) by Dowgate, SPARK or any other person

Dowgate Capital Limited is acting as sole placing agent, bookrunner and broker in connection with the Fundraising and SPARK Advisory Partners Limited is acting as the Company's nominated adviser.

Capitalised terms used but not defined in this announcement have the same meanings as set out in the announcement of the Company at 11:00 a.m. on 25 May 2023.

For further information please contact: