Schedule One - Ocean Harvest Technology Group plc

RNS Number : 9810S

AIM

15 March 2023

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Ocean Harvest Technology Group plc ("the Company", "the Group" or "Ocean Harvest Technology")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):

Registered office address:

1650 Arlington Business Park, Theale, Reading, RG7 4SA

Principal trading address:

Kim Huy Industrial Park, Binh Duong Province, Vietnam

COUNTRY OF INCORPORATION:

United Kingdom

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

AIM Rule 26 section - TBC

https://oceanharvesttechnology.com/

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Ocean Harvest Technology is one of the leading commercial scale producers of seaweed blend ingredients for the animal feed market.

The Group was founded in 2005 on the belief that an investment in research and development would result in the ability to create seaweed ingredients that would deliver a number of specific benefits across multiple animal species based on the polysaccharides and other bioactive ingredients present in particular species of seaweeds.

Since its establishment, the Group, through its research and development programme, continues to build a portfolio of intellectual property and has had commercial success in selling its products as ingredients to improve the efficiency, profitability and sustainability of the animal feed chain by delivering improvements in animal gut health.

The Group's intellectual property portfolio (comprising trade secrets, know-how, various pending patent applications and trade marks), developed in-house and in conjunction with a number of academic and corporate partners, has enabled the Group to demonstrate the significant and positive impacts of its products to potential customers. Alongside this, the Group has focused on the growth of its global seaweed supply chain from harvesters and other suppliers. Harvested seaweeds are transported to the Group's facility in Vietnam where they are processed into OceanFeed^TM feed ingredients for multiple species of animals. The Directors estimate that the Group has spent over €20m to date in R&D and commercialising its products.

The Group continues to invest in R&D, the sourcing of seaweed, and the processing and marketing of its products, as the Group pursues its growth strategy with the aim of becoming the largest supplier of proprietary blended seaweed ingredients to the global animal feed industry.

The main country of operation is Vietnam where the Company's main production and processing facility is located. The Company is headquartered in Theale, UK with further operations in Galway, Ireland and Binh Duong Province, Vietnam. The Group has grown to comprise a team of 40 full time employees.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

There will be one class of ordinary share admitted to trading.

TBC ordinary shares of 1p each at a placing price of TBC pence per ordinary share.

No ordinary shares held in treasury.

The ordinary shares will be freely transferable and have no restrictions as to transfer placed on them.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on Admission: £TBC million primary.

Anticipated market capitalisation on admission: £TBC million.

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

TBC

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

None

THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N)

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Ashley John Head - Non-Executive Chair

Mark Fraser Williams - Chief Executive Officer

Dr. Hadden Graham - Chief Commercial Officer

Adrian Graham Crockett - Chief Financial Officer

David Frank Tilston - Independent Non-Executive Director

Prof. Christine Adair Maggs - Independent Non-Executive Director

Thomas David Onions - Non-Executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Shareholder	% of issued share capital immediately prior to Admission	% of issued share capital on Admission
Kivalina Two Ltd	23.98	TBC
BWC Group Inc.	18.60	TBC
Marwal Holdings Ltd	11.51	TBC
Terance Butler Holdings Ltd	10.02	TBC
Graham David Ellis	3.15	TBC

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

i) 31 December

ii) 31 December 2022

iii) 30 September 2023 (6 month unaudited results to 30 June 2023)

31 March 2024 (12 month audited results to 31 December 2023)

30 September 2024 (6 month unaudited results to 30 June 2024)

EXPECTED ADMISSION DATE:

29 March 2023

NAME AND ADDRESS OF NOMINATED ADVISER:

finnCap Ltd

One Bartholomew Close

London

EC1A 7BL

NAME AND ADDRESS OF BROKER:

finnCap Ltd

One Bartholomew Close

London

EC1A 7BL

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

Electronic copies of the Admission Document will be available on the Company's website from the date of Admission.

https://oceanharvesttechnology.com/

The Admission Document will contain full details about the Company and the admission of its securities.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Corporate Governance Code

DATE OF NOTIFICATION:

15 March 2023

NEW/ UPDATE:

New

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END

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Date	15 Mar 2023
Time	08:00:03
Category	Capital structure
ID	9810S

Date	15 Mar 2023
Time	08:00:03
Category	Capital structure
ID	9810S

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RNS Metadata

RNS Metadata

Schedule One - Ocean Harvest Technology Group plc