Yourgene Health PLC Earn-out Milestone, Issue of Equity & TVR (2238I)
11 August 2021 - 4:01PM
UK Regulatory
TIDMYGEN
RNS Number : 2238I
Yourgene Health PLC
11 August 2021
Yourgene Health plc
("Yourgene" or the "Group" or the "Company")
Earn-out Milestone, Issue of Equity & Total Voting
Rights
Manchester, UK 11 August 2021: Yourgene (AIM: YGEN), a leading
international molecular diagnostic group, announces an issue of
equity pursuant to the terms of the acquisition of Coastal(R)
Genomics Inc. ("Coastal") which completed in August 2020 (the
"Acquisition").
Under the terms of the Coastal acquisition, a second strategic
partnership Coastal Genomics' Ranger(R) technology was announced on
21 June 2021 which met the criteria for a Qualifying Commercial
Agreement with a Strategic Partner, triggering the second and final
equity earn-out milestone arising from the Acquisition. The first
equity earn-out milestone was announced in March 2021 with the
resultant shares issued on 12 April 2021.
To satisfy the Acquisition terms, the achievement of this second
milestone gives rise to the issuance of 4,880,971 new shares in the
Company's wholly owned subsidiary, Yourgene Health Canada
Investment Ltd ("YGEN-HCIL"), to the former shareholders of
Coastal. These YGEN-HCIL shares are exchangeable on a one-for-one
basis with the Company's ordinary shares, subject to certain
lock-in provisions over the next one to five years.
In addition to the above issue of YGEN-HCIL shares, 85,124 new
ordinary shares in the Company will be issued to a US-based
individual, who has elected to receive his earn-out payment in this
form. Application will be made to the London Stock Exchange to
admit the 85,124 new ordinary to trading on AIM. Admission of the
new ordinary shares is expected to occur on or around 16 August
2021. The new ordinary shares will rank pari passu with the
existing ordinary shares.
Total Voting Rights
For the purpose of the Disclosure and Transparency Rules,
following the issue of Company shares detailed above the enlarged
issued share capital of the Company will comprise 723,780,306
ordinary shares of 0.1p each. The Company does not hold any
ordinary shares in treasury. The above 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, or
a change to their interest in, the Company, under the Disclosure
and Transparency Rules.
In addition, as a result of the issuance of the YGEN-HCIL shares
detailed above there are now a total of 19,826,660 unlisted
YGEN-HCIL shares issued which are exchangeable on a one-for-one
basis for the Company's shares as described above.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation. The Directors of the Company
take responsibility for this announcement.
Yourgene Health plc Tel: +44 (0)161 669 8122
Lyn Rees, Chief Executive Officer investors@yourgene-health.com
Barry Hextall, Chief Financial Officer
Joanne Cross, Director of Marketing
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213 0880
Liam Murray / James Caithie / Ludovico
Lazzaretti
Singer Capital Markets (Joint Corporate Tel: +44 (0)20 7496 3000
Broker)
Aubrey Powell / Tom Salvesen / George
Tzimas
Stifel Nicolaus Europe Limited (Joint Tel: +44 (0)20 7710 7600
Corporate Broker)
Nicholas Moore / Matthew Blawat / Ben
Maddison
Walbrook PR Ltd (Media and Investor Tel: +44 (0)20 7933 8780 or yourgene@walbrookpr.com
Relations)
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / Mob: 07584 391 303
About Yourgene Health plc
Yourgene Health is an international molecular diagnostics group
which develops and commercialises genomic services and
technologies. The group works in partnership with global leaders in
DNA technology to advance diagnostic science.
Yourgene primarily develops, manufactures, and commercialises
simple and accurate molecular diagnostic solutions, for
reproductive health, precision medicine and infectious diseases.
The Group's flagship in vitro diagnostic products include
non-invasive prenatal tests (NIPT) for Down's Syndrome and other
genetic disorders, Cystic Fibrosis screening tests, invasive rapid
aneuploidy tests and DPYD genotyping.
Yourgene has a range of innovative DNA sample preparation
platforms, powered by Ranger(R) Technology, the Yourgene
LightBench(R) and Yourgene QS250, ideal for cell-free DNA
applications in NIPT and oncology including liquid biopsy.
Yourgene Genomic Services is a global laboratory service network
equipped to be a full life-cycle partner for clinical, research and
pharmaceutical organisations to support partners at the
preclinical, clinical, and post-market stages to develop,
manufacture, obtain regulatory approval and commercialise new
products and services. In addition, Yourgene Genomic Services
offers an NIPT and high throughput COVID testing service.
Yourgene Health is headquartered in Manchester, UK with
facilities in Taipei, Singapore, the US and Canada, and is listed
on the London Stock Exchange's AIM market under the ticker "YGEN".
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