(Alliance News) - WideCells Group PLC said Wednesday the European High Growth Opportunities Securitization Fund has reduced its holding in the company to 5.1% from 18% on Tuesday.
On Monday last week, WideCells said the financing agreement it entered with the fund in November had expired.
In September 2018, the company, which previously used to focus on stem cell healthcare, entered into an issuance agreement with the fund, to secure GBP2.7 million worth of funding in return for bonds convertible into shares with attached warrants.
WideCells confirmed on Monday that all of the remaining bonds have been converted, and also that the fund has agreed to a lock-in of shares reflecting no less than 5% of WideCells's entire issued share capital.
Shares in WideCells closed 4.0% lower at 0.32 pence on Wednesday.