TIDMWDC
RNS Number : 3051F
WideCells Group PLC
27 July 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, CANADA,
JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND,
SINGAPORE, HONG KONG OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE
TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
27 July 2016
WideCells Group PLC ('WideCells Group' or 'the Group')
GBP2m Placing, Admission to Trading and First Day of
Dealings
WideCells Group, the health care services company focused on
collecting and storing stem cells and providing ground breaking
insurance for stem cell treatment, is pleased to announce that the
entire issued share capital of 54,058,061 ordinary shares of 0.25p
each ('Ordinary Shares') will today be admitted to the Standard
Listing segment of the Official List of the UK Listing Authority
and to trading on the Main Market for listed securities of the
London Stock Exchange (together 'Admission'). The Company will be
trading under the ticker symbol WDC with the ISIN number
GB00BD060S65.
Highlights
-- GBP2 million raised via a placing, conducted by Vicarage
Capital Ltd and Shard Capital Partners, of 18,181,819 ordinary
shares at 11p per share
-- Funds raised are intended to build an integrated stem cell
services company, focused on promoting stem cell treatments by
making them accessible and affordable
-- The Directors believe that the use of cord blood stem cells
for transplant will drive one of the next important phases in
medicine
-- The Group is developing market leading products in
complementary, strategic areas which are designed to take advantage
of substantial market opportunities in one of the fastest growing
segments in the healthcare industry
-- An experienced senior management team that has been integral
to the development of its growth and business to date
o CEO, João Andrade, COO Lopes Gil and CSO Dr Peter Hollands
have between them over 30 years' senior level experience in the
stem cell market
o Further strengthened by the appointment as a non-executive
director of Dr Marilyn Orcharton, a qualified dentist and
co-founder of Denplan, the UK's dental payment plan specialist
o Dr Graham Hine, non-executive Chairman, is a technology
entrepreneur with a background in leading, growing and successfully
exiting technology companies
o CFO David Bridgland has over 20 years' experience leading
companies ranging from privately owned and venture capital backed
companies, to major listed companies
WideCells Group CEO Joao Andrade said, "We are the first company
ever to create an integrated service offering to combat the
financial barriers associated with stem cell treatment, which has
enabled us to attract a fantastic board with direct experience of
commercialising innovative areas of the medical industry. Currently
over 3 million people worldwide have paid c. GBP2,000 to store stem
cells but most are generally unaware that a stem cell treatment can
cost up to GBP300,000 with the vast majority not in a position to
afford it. Our CellPlan healthcare insurance product is the first
of its kind to be launched worldwide. It will make treatment more
accessible to those outside of the richest demographics and which
we believe will in turn fuel investment into stem cell research,
potentially driving one of the next important phases in the medical
industry."
"Our multi-division business will provide many sources of
revenues. We will commence the roll out of CellPlan towards the end
of 2016 and we expect to rapidly gain a significant client base
considering the millions of people who are already storing stem
cells to help protect their families from illness. Alongside this
we expect to add to our portfolio of stem cell storage facilities
and are excited to deliver our educational programmes in
partnership with the University of Westminster, which we expect to
drive uptake of our services, as growing numbers of doctors will be
trained in and educated on the benefits of stem cell storage and
treatment. Considering the breadth and relevance of our services
and our experienced board, we believe that we are in an excellent
position to secure a significant market share in an industry, which
has the potential to grow to US$3.5 billion by 2020."
The Company's prospectus in connection with Admission is
available on the Company's website www.widecellsgroup.com and is
also available at the offices of Fladgate LLP, 16 Great Queen
Street, London WC2B 5DG.
Placing Statistics (terms defined in the prospectus)
Number of Existing Ordinary
Shares 30,400,000
Placing Price 11 pence per Ordinary
Share
Number of Placing Shares 18,181,819
Number of Conversion Shares 5,443,515
Number of Fee Shares 32,727
Enlarged Share Capital
in issue on Admission
following the issue of
the Placing Shares, the
Conversion Shares and
the Fee Shares 54,058,061
Percentage of Enlarged
Share Capital represented
by the Placing Shares 33.63%
Percentage of the Enlarged
Share Capital represented
by the Conversion Shares 10.05%
Percentage of the Enlarged
Share Capital represented
by the Fee Shares 0.06%
Gross proceeds of the GBP2,000,000
Placing
Proceeds of the Placing GBP1,725,000
receivable by the Company
(after deduction of transaction
costs)
Aggregate number of Option
Shares, Warrant Shares
and Broker Warrants 5,649,029
Enlarged Share Capital
on a fully diluted basis 59,707,090
Enlarged Share Capital
as a percentage of fully
diluted capital of the
Company 90.54%
In accordance with Disclosure and Transparency Rule 5.6, the
total number of Ordinary Shares in issue immediately following
Admission is 54,058,061, each with equal voting rights. The Company
does not hold any Ordinary Shares in treasury. This total voting
rights figure of 54,058,061 can be used by shareholders as the
denominator for the calculations by which they will determine
whether they are required to notify their interest in the Company
under the Disclosure and Transparency Rules of the Financial
Conduct Authority.
**ENDS**
For further information, please visit the Company's website
www.widecellsgroup.com, follow us on Twitter @WideCells_Group or
contact:
WideCells Group CEO - Joao Andrade Tel: +351 919
033 171
------------------- ------------------------- --------------
Vicarage Capital Broker - Jeremy Woodgate Tel: +44 (0)
Ltd & Rupert Williams 20 3651 2912
------------------- ------------------------- --------------
Shard Capital Broker - Damon Heath Tel: +44 (0)
Partners LLP & Erik Woolgar 207 186 9950
------------------- ------------------------- --------------
St Brides Partners PR - Elisabeth Cowell Tel: +44 (0)
Ltd & Charlotte Heap 20 7236 1177
------------------- ------------------------- --------------
Notes to Editors
WideCells Group PLC is building an integrated stem cell services
company, focused on making stem cell treatments accessible and
affordable. The Directors believe that the use of cord blood stem
cells for transplant will drive one of the next important phases in
medicine and is therefore developing market leading products in
complementary, strategic areas which are designed to take advantage
of substantial market opportunities in one of the fastest growing
segments in the healthcare industry. With this in mind, it has
created three divisions:
-- CellPlan: the world's first stem cell healthcare insurance
plan with financial cover for medical treatment, travel and
accommodation expenses and concierge service to manage the
treatment process
-- WideCells: a portfolio of best in class stem cell processing
and cord blood storage facilities with an existing presence in UK
and Brazil
-- WideAcademy: developing an education and training division to
promote awareness of the benefits of stem cell storage across the
global general practice community
The Group has built an experienced senior management team that
has been integral to the development of its growth and business to
date.
Stem Cell Fast Facts:
-- Cord blood (which is taken from the umbilical cord) provides
the most effective source of stem cells for families due to it
being simple, safe and painless to collect relative to other
sources of stem cells such as bone marrow - WideCells will focus on
promoting the collection and storage of this.
-- Since 2005, there has been a 300% increase in the number of
illnesses that can be treated using stem cells
-- 82 illnesses can currently be treated using stem cell procedures
-- Despite initial storage often costing no more than a few
GBPthousand, actual treatment can cost in the GBPhundreds of
thousands
This information is provided by RNS
The company news service from the London Stock Exchange
END
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