TIDMWDC
RNS Number : 9740N
WideCells Group PLC
15 August 2017
15 August 2017
WideCells Group PLC ('WideCells Group' or 'the Company')
Raises GBP750,000 to expand and support the Company's three
divisions
WideCells Group PLC, the healthcare services company focused on
providing stem cell services and ground-breaking insurance for stem
cell treatment, is pleased to announce that it has raised gross
proceeds of GBP750,000 through the issue of 5,357,143 ordinary
shares at 14p per share by way of a private placing (the 'Placing')
with new and existing shareholders as well as the Board of
Directors. The funds raised will be used to execute on a range of
additional opportunities the Group has identified since listing in
July 2016, rapidly accelerate the roll out of its three stem cell
services divisions, CellPlan, WideCells and WideAcademy, and
further its penetration of the rapidly growing stem cell
market.
WideCells Group CEO, João Andrade, said, "This is an extremely
exciting phase in our development as we look to accelerate the
growth of all three divisions, CellPlan, WideCells and WideAcademy,
through the aggressive roll out of new and existing products and
services. Our growth trajectory has been steep and we are set to
continue this in the coming months as our proprietary insurance
product CellPlan gains traction, the marketing of INDUS, a novel
synthetic bone graft which promotes new bone formation increases,
and the expansion of our stem cell bank relationships as well as
our own storage capabilities expands. Furthermore, having recently
been granted a research licence from the UK's Human Tissue
Authority, this cash injection will enable us to proceed with
further cutting-edge stem cell research in a market that is
projected to be worth US$170 billion by 2020 which is intended to
help drive more revenues for the company in the future.
"We are ideally positioned to build on our position as a key
service provider and leading international innovator in the stem
cell arena. We recently ranked as the 21st most disruptive company
globally by DISRUPT 100; I look forward to continuing in this vein,
increasing revenue and rewarding shareholders for their
support."
CellPlan
With the Company's e-commerce platform live, CellPlan can now be
purchased by both new and existing customers of Biovault Technical
Ltd ('Biovault'), the UK's largest private human tissue storage
facility. The platform enables the Group to target existing
customers, who can purchase its stem cell insurance product,
CellPlan, direct, whilst every new Biovault customer automatically
receives CellPlan for a 12-month period, the cost of which is
covered by Biovault as part of its package to new storage
customers. A portion of the funds raised will be used to develop
the second stage of the e-commerce platform to roll out extended
provider network and marketing spend to acquire more clients.
Additionally, the Company intends to strengthen marketing
activities to accelerate growth and uptake - both to additional
cord blood storage facilities and the extended provider
network.
WideCells
The Company's first stem cell storage facility, the Institute of
Stem Cell Technology at the University of Manchester Innovation
Centre, has been granted a Research Licence (the 'Licence') from
the UK's Human Tissue Authority. This Licence, Number 12669,
enables the Company to proceed with cutting-edge stem cell research
at its base in Manchester and build on its position as a leading
international innovator in the stem cell arena. A portion of the
funds raised will be used to deliver additional storage services,
including stem cells from the placenta, cord blood plasma, teeth
cells and synthetic bone substitute INDUS, and to drive storage
uptake.
WideAcademy
WideAcademy is focused on becoming a thought leader in stem cell
technology and accordingly the Company aims to establish itself as
a high-profile resource for both healthcare professionals and
families alike. It aims to achieve this goal by establishing
collaborations with leading multinational technology companies and
reputed educational institutions and developing a website and
mobile App which can deliver and distribute high quality and
trustworthy information about this cutting edge and innovative
industry. The funds will be used to create and develop a digital
platform to facilitate distribution of content globally, accelerate
WideAcademy Courseware and secure and advance partnerships with
educational institutions and technology companies.
The Placing
The Placing has raised gross proceeds of GBP750,000 by the issue
of 5,357,143 new ordinary shares of GBP0.0025 each in the share
capital of the Company (the 'Placing Shares') to new and existing
shareholders and Directors of the Company, at a price of 14 pence
per Placing Share (the 'Placing Price'), conditional only on
Admission (as defined below).
Applications have been made for admission of the Placing Shares
to listing on the Standard 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 plc ('Admission').
Admission is expected to take place on 18 August 2017.
The Placing Shares will rank pari passu in all respects with the
existing ordinary shares in the share capital of the Company
(including as to the right to receive dividends (and other
distributions, if any) declared, made or paid by the Company after
the date of issue of the Placing Shares).
Directors' participation in the Placing
Details of the directors' participation in the Placing are set
out below:
Director Number of Price Number of Shareholding
Placing per Placing shares held following
Shares subscribed Share following the issue
for the issue of the
of the Placing Placing
Shares Shares
------------------- ------------------- ------------- ---------------- -------------
João Placing
Andrade 15,000 Price 8,055,000 12.43%
------------------- ------------------- ------------- ---------------- -------------
Placing
David Bridgland 71, 429 Price 403,979 0.62%
------------------- ------------------- ------------- ---------------- -------------
Placing
Lopes Gil 15,000 Price 8,050,000 12.42%
------------------- ------------------- ------------- ---------------- -------------
Placing
Graham Hine 20,000 Price 3,258,698 5.03%
------------------- ------------------- ------------- ---------------- -------------
Placing
Marilyn Orcharton 7,143 Price 158,095 0.24%
------------------- ------------------- ------------- ---------------- -------------
Placing
Alan Greenberg 35,714 Price 35,714 0.06%
------------------- ------------------- ------------- ---------------- -------------
Placing
Alvaro Salas 21,429 Price 181,663 0.06%
------------------- ------------------- ------------- ---------------- -------------
The notification set out below (made in accordance with the
requirements of the Market Abuse Regulation (EU) 596/2014 ('MAR'))
provides further detail of the directors' participation.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -----------------------------------------------------------------------------------------------------------------
a) Names 1. João Andrade - Chief Executive Officer
2. David Bridgland - Chief Financial Officer
3. Lopes Gil - Chief Operating Officer
4. Graham Hine - Chairman
5. Marilyn Orcharton - Non-Executive Director
6. Alan Greenberg - Non-Executive Director
7. Alvaro Salas - Director WideCells Espanã S.L.
--- ----------------------------------------- ----------------------------------------------------------------------
2 Reason for the notification
--- -----------------------------------------------------------------------------------------------------------------
a) Position/status Directors of the Company
--- ----------------------------------------- ----------------------------------------------------------------------
b) Initial notification /Amendment Initial notification
--- ----------------------------------------- ----------------------------------------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -----------------------------------------------------------------------------------------------------------------
a) Name WideCells Group PLC
--- ----------------------------------------- ----------------------------------------------------------------------
b) LEI n/a
--- ----------------------------------------- ----------------------------------------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- -----------------------------------------------------------------------------------------------------------------
a) Description of the financial instrument, Ordinary shares of GBP0.0025 each
type of instrument
--- ----------------------------------------- ----------------------------------------------------------------------
b) Identification code GB00BD060S65
--- ----------------------------------------- ----------------------------------------------------------------------
c) Nature of the transaction Placing
--- ----------------------------------------- ----------------------------------------------------------------------
d) Price(s) and volume(s) Name Price(s) Volume(s)
------------------- --------- ----------
João
Andrade 14p 15,000
David Bridgland
Lopes Gil 14p 71,429
Graham Hine
Marilyn Orcharton 14p 15,000
14p 20,000
7,
14p 143
14p
35,714
Alan Greenberg
Alvaro Salas 14p 21,429
------------------- --------- ----------
--- ----------------------------------------- ----------------------------------------------------------------------
d) Aggregated information 185,714
- Aggregated volume GBP26,000 (185,714 new ordinary shares at 14 pence per new ordinary
- Price share)
--- ----------------------------------------- ----------------------------------------------------------------------
e) Date of the transaction 18 August 2017
--- ----------------------------------------- ----------------------------------------------------------------------
f) Place of the transaction Outside a trading venue
--- ----------------------------------------- ----------------------------------------------------------------------
Total voting rights
Following the issue of the Placing Shares the Company's total
issued share capital will consist of 64,821,010 ordinary shares of
GBP0.0025 each. As each ordinary share carries one vote the total
number of voting rights attached to the ordinary shares in the
Company is 64,821,010.
This figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required
to notify their interest in ordinary shares in the Company in
accordance with the Disclosure Guidance 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 - João Andrade Tel: +351 919
033 171
------------------- ------------------------- --------------
Smaller Company Broker - Jeremy Woodgate Tel: +44 (0)
Capital 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 - Charlotte Page Tel: +44 (0)
Ltd & Olivia Vita 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. In June 2017, the Group was ranked as the 21st most
disruptive company globally by DISRUPT 100, an annual index
celebrating the businesses with the most potential to influence,
change or create new global markets.
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: the Institute of Stem Cell Technology has been
established and is based in the University of Manchester Innovation
Centre to focus on stem cell research and regenerative medicine.
WideCells also has international cryogenics divisions specialising
in stem cell storage.
-- 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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