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On 30 March 2022, Proteome Sciences plc announced an amendment to its £1 million loan facility with Vulpes Investment Management Private Limited (VIM). The amendment extends the repayment date for the loan, of which £700,000 is currently drawn and accrues interest at 2.5% above the UK sterling base rate, to 30 June 2023 from the previous 1 May 2022. Mr Martin Diggle, a Proteome Sciences Non-Executive Director, is a director and partner of VIM, which is a shareholder holding 22.3% of Proteome Sciences.
| Date | 30 Mar 2022 |
| Time | 11:24:05 |
| Category | Miscellaneous |
| ID | 5992G |
30 March 2022
Proteome Sciences plc
("Proteome Sciences" or the "Company")
Loan amendment
On 3 July 2018, the Company entered into a £1 million loan facility with Vulpes Investment Management Private Limited ("VIM") (the "Loan"). The Directors of Proteome Sciences are now pleased to announce that the Loan has been amended such that the Loan (of which £700,000 is currently drawn) and all accrued interest is now repayable on 30 June 2023 (previously 1 May 2022) (the "Loan Amendment"). All other terms of the Loan remain the same as announced on 3 July 2018, including that interest will accrue at the annual rate of 2.5 per cent. above the UK sterling base rate of Barclays Bank plc.
Mr Martin Diggle, Non-Executive Director of Proteome Sciences, is a director and partner of VIM. VIM manages the Vulpes Life Sciences Fund, which is a shareholder of 22.3 per cent. of Proteome Sciences. By virtue of Mr Diggle being a director of the Company and a partner and director of VIM, the Loan Amendment constitutes a related party transaction in accordance with the AIM Rules for Companies. Accordingly, the directors independent of the transaction, being all directors of the Company save for Mr Diggle, consider, having consulted with the Company's nominated adviser, that the Loan Amendment is fair and reasonable insofar as the Company's shareholders are concerned.
For further information please contact:
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Proteome Sciences plc Mariola Soehngen, M.D., Chief Executive Officer |
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Dr Ian Pike, Chief Scientific Officer Richard Dennis, Chief Commercial Officer |
Tel: +44 (0)20 7043 2116 |
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Allenby Capital Limited (AIM Nominated Adviser & Broker) |
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John Depasquale / Jeremy Porter |
Tel: +44 (0) 20 3328 5656 |
About Proteome Sciences plc. (www.proteomics.com)
Proteome Sciences plc is a specialist provider of contract proteomics services to enable drug discovery, development and biomarker identification, and employs proprietary workflows for the optimum analysis of tissues, cells and body fluids. SysQuant® and TMT®MS2 are unbiased methods for identifying and contextualising new targets and defining mechanisms of biological activity, while analysis using Super-Depletion and TMTcalibrator™ provides access to over 8,500 circulating plasma proteins for the discovery of disease-related biomarkers. Targeted assay development using mass spectrometry delivers high sensitivity, interference-free biomarker analyses in situations where standard ELISA assays are not available.
The Company has its headquarters in London, UK, with laboratory facilities in Frankfurt, German