OptiBiotix Health PLC Capital reorganisation (6335X)
28 November 2017 - 6:00PM
UK Regulatory
TIDMOPTI
RNS Number : 6335X
OptiBiotix Health PLC
28 November 2017
OptiBiotix Health plc
("OptiBiotix" or the "Company")
Capital reorganisation: Potential for future dividend
payments
OptiBiotix Health plc (AIM: OPTI), a life sciences business
developing compounds to tackle obesity, high cholesterol, diabetes
and skin care, announces that it intends to convene a General
Meeting ("GM") to seek shareholder consent to undertake a share
capital re-organisation to allow the Company to make future
dividend payments. There will be no change in the number of
Ordinary Shares in issue (or their nominal value) following the
capital re-organisation.
The proposed capital reduction will cancel the Company's share
premium account. This will create distributable reserves which will
be available for the directors of the Company to use for the
purposes of paying dividends, either in cash or 'in specie', should
circumstances in the future make it desirable to do so.
The capital re-organisation requires both shareholder consent
and the approval of the Court. Following the GM, if approved, an
application will be made to the Court in order to confirm and
approve the Capital Reduction.
Further details will be provided in the notice of AGM.
Stephen O'Hara, CEO of OptiBiotix, commented: "I am pleased to
inform shareholders of our plans to allow the Company to make
future dividend payments. The ability to make dividend payments
provides the flexibility to consider paying a 'dividend in specie'
to the Company's shareholders of shares it holds in
SkinBioTherapeutics plc, should it be appropriate to do so. This is
part of our strategy of building value across OptiBiotix divisions
and where possible releasing value back to shareholders."
OptiBiotix Health plc www.optibiotix.com
Stephen O'Hara, Chief Executive Contact via
Walbrook below
Cairn Financial Advisers LLP (NOMAD) Tel: 020 7213
0883
Liam Murray
FinnCap (Broker) Tel: 020 7220
0500
Adrian Hargrave / Scott Mathieson
/ Kate Bannatyne (Corporate Finance)
Tony Quirke / Abigail Wayne (Corporate
Broking)
Walbrook PR Ltd Tel: 020 7933 8780 or
optibiotix@walbrookpr.com
Anna Dunphy Mob: 07876 741
001
About OptiBiotix - www.optibiotix.com
OptiBiotix was formed in March 2012 to develop compounds which
modify the human microbiome - the collective genome of the microbes
in the body - to prevent and manage human disease.
The aim of OptiBiotix is to discover and develop microbial
strains, compounds and formulations, which modulate the human
microbiome and can be used as food ingredients and supplements or
active compounds for the prevention and management of human
metabolic diseases, examples of which include obesity, cholesterol
and lipid distribution and diabetes.
OptiBiotix has established a pipeline of microbiome modulators
that can impact on lipid and cholesterol management, energy harvest
and appetite suppression. The development pipeline is fuelled by
its proprietary OptiScreen(R) and OptiBiotic(R) platform
technologies designed to identify metabolic pathways and compounds
that impact on human physiology and bring potential health
benefits. These platforms are applicable across a wider range of
other human diseases.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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