WideCells Group PLC 3rd Conversion of Bond (7784F)
31 October 2018 - 6:00PM
UK Regulatory
TIDMWDC
RNS Number : 7784F
WideCells Group PLC
31 October 2018
31 October 2018
Widecells Group PLC ('WideCells Group' or 'the Group')
Issue and Allotment of Ordinary Shares following Exercise of
Conversion Rights
WideCells Group PLC, the healthcare services group focussed on
providing stem cell services and ground-breaking insurance for stem
cell treatment, announces that following the financing agreement
entered into by the Group and the European High Growth
Opportunities Securitization Fund ('Investor') (see RNS dated 27
September 2018), pursuant to which the Group issued bonds
('Convertible Bonds') convertible into ordinary shares of GBP0.0025
each in the Group ('Ordinary Shares') to the Investor, the Group
has now received a third notice of exercise from the Investor in
respect of the exercise by the Investor of its conversion rights
under the Convertible Bonds in the principal amount of GBP5,000.00,
resulting in the issue to the Investor of 2,000,000 new Ordinary
Shares ('Conversion Shares').
The Group has agreed, subject only to Admission (as defined
below), to issue the Conversion Shares and accordingly application
will be made for the Conversion Shares to be listed 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 6 November 2018. The
Conversion Shares will rank pari passu in all respects with all
existing Ordinary Shares.
Following Admission of the Conversion Shares, the Company's
enlarged issued share capital will comprise 141,352,698 Ordinary
Shares with voting rights. The Company does not hold any shares in
treasury. The figure of 141,352,698 Ordinary Shares may be used by
shareholders in the Company as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of
the Company under 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
Shard Capital Partners Broker - Damon Heath & Erik Tel: +44 (0) 20 7186
LLP Woolgar 9950
---------------------------- ---------------------
St Brides Partners PR - Priit Piip & Isabel de Tel: +44 (0) 20 7236
Limited Salis 1177
---------------------------- ---------------------
Notes to Editors
WideCells Group PLC
WideCells Group PLC is building an integrated stem cell services
company, focused on making stem cell treatments both accessible and
affordable. This is delivered through 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.
Stem Cell Fast Facts:
-- Cord blood (which is taken from the umbilical cord) provides
the most effective source of stem cells for families, because it is
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 cord blood.
-- 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 collection and storage often costing no more
than a few GBPthousands, actual treatment can cost in the
GBPhundreds of thousands - before the development of an insurance
product such as CellPlan, the treatment remained largely available
only to Higher Net Worth individuals.
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014
(MAR).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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