RE: share distribution23 Apr 2022 20:16
summary - at least my take - re pbx shares in issue
53,533,333 opti
11,904,762 placing and subscription ( we now know seneca partners 8,025,450)
9,761,904 CLNotes
48,847,611 Nominee (opti div in specie which includes concert party)
equals
124,047,610
less 2,380,944 being opti 250,000 CLN's at .105p (50% discount)
equals
121,666,666 on admission
By way of reminder re Convertible Loan notes
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces that further to the announcement on 24 September 2018 regarding the formation of the Company's wholly owned subsidiary ProBiotix Health Limited ("ProBiotix"), ProBiotix has raised £1.025 million of capital through the issue of convertible loan notes ("CLN").
The proceeds from the issue of CLNs will be used to provide funding for a potential initial public offering of ProBiotix. This is in line with OptiBiotix's strategy announced on 5 July 2016 to form separate divisions, which could in due course become separate legal entities with the potential for a separate public listing. OptiBiotix's strategy is based on its belief that the diversity of IP and commercial relationships across its four divisions reduces shareholder risk whilst offering multiple opportunities for value enhancement.
OptiBiotix plc has subscribed for £250,000 of CLNs. Steve O'Hara, a director of the Company, has subscribed for £25,000 and certain close family members of Mr. O'Hara have subscribed for £265,000. In addition, Per Rehné, a director of the Company, has subscribed for £25,000. The remaining subscribers include two institutional investors and two industry partners.
The CLNs can be converted at a fifty per cent. discount to the issue price of ProBiotix shares in the event of an IPO. The CLNs carry an interest rate of 3% per annum above the Bank of England Base Rate.
As of 14 December 2018, Steve O'Hara has an interest in 10,103,029 ordinary shares in the Company, representing 11.9 per cent. of the Company's issued share capital and has an interest in a further 6,099,135 ordinary shares under option.
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