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Placing & First Day of Dealings

27 Jul 2016 08:00

RNS Number : 3051F
WideCells Group PLC
27 July 2016
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, SINGAPORE, HONG KONG OR AUSTRALIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

27 July 2016

WideCells Group PLC ('WideCells Group' or 'the Group')

£2m Placing, Admission to Trading and First Day of Dealings

 

WideCells Group, the health care services company focused on collecting and storing stem cells and providing ground breaking insurance for stem cell treatment, is pleased to announce that the entire issued share capital of 54,058,061 ordinary shares of 0.25p each ('Ordinary Shares') will today be admitted to the Standard Listing 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 (together 'Admission'). The Company will be trading under the ticker symbol WDC with the ISIN number GB00BD060S65

 

Highlights

· £2 million raised via a placing, conducted by Vicarage Capital Ltd and Shard Capital Partners, of 18,181,819 ordinary shares at 11p per share

 

· Funds raised are intended to build an integrated stem cell services company, focused on promoting stem cell treatments by making them accessible and affordable

 

· The Directors believe that the use of cord blood stem cells for transplant will drive one of the next important phases in medicine

 

· The Group is developing market leading products in complementary, strategic areas which are designed to take advantage of substantial market opportunities in one of the fastest growing segments in the healthcare industry

 

· An experienced senior management team that has been integral to the development of its growth and business to date

o CEO, João Andrade, COO Lopes Gil and CSO Dr Peter Hollands have between them over 30 years' senior level experience in the stem cell market

o Further strengthened by the appointment as a non-executive director of Dr Marilyn Orcharton, a qualified dentist and co-founder of Denplan, the UK's dental payment plan specialist

o Dr Graham Hine, non-executive Chairman, is a technology entrepreneur with a background in leading, growing and successfully exiting technology companies

o CFO David Bridgland has over 20 years' experience leading companies ranging from privately owned and venture capital backed companies, to major listed companies

 

WideCells Group CEO Joao Andrade said, "We are the first company ever to create an integrated service offering to combat the financial barriers associated with stem cell treatment, which has enabled us to attract a fantastic board with direct experience of commercialising innovative areas of the medical industry. Currently over 3 million people worldwide have paid c. £2,000 to store stem cells but most are generally unaware that a stem cell treatment can cost up to £300,000 with the vast majority not in a position to afford it. Our CellPlan healthcare insurance product is the first of its kind to be launched worldwide. It will make treatment more accessible to those outside of the richest demographics and which we believe will in turn fuel investment into stem cell research, potentially driving one of the next important phases in the medical industry." 

 

"Our multi-division business will provide many sources of revenues. We will commence the roll out of CellPlan towards the end of 2016 and we expect to rapidly gain a significant client base considering the millions of people who are already storing stem cells to help protect their families from illness. Alongside this we expect to add to our portfolio of stem cell storage facilities and are excited to deliver our educational programmes in partnership with the University of Westminster, which we expect to drive uptake of our services, as growing numbers of doctors will be trained in and educated on the benefits of stem cell storage and treatment. Considering the breadth and relevance of our services and our experienced board, we believe that we are in an excellent position to secure a significant market share in an industry, which has the potential to grow to US$3.5 billion by 2020."

 

The Company's prospectus in connection with Admission is available on the Company's website www.widecellsgroup.com and is also available at the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG.

 

Placing Statistics (terms defined in the prospectus)

Number of Existing Ordinary Shares

30,400,000

Placing Price

11 pence per Ordinary Share

Number of Placing Shares

18,181,819

Number of Conversion Shares

5,443,515

Number of Fee Shares

32,727

Enlarged Share Capital in issue on Admission following the issue of the Placing Shares, the Conversion Shares and the Fee Shares

54,058,061

Percentage of Enlarged Share Capital represented by the Placing Shares

33.63%

Percentage of the Enlarged Share Capital represented by the Conversion Shares

10.05%

Percentage of the Enlarged Share Capital represented by the Fee Shares

0.06%

Gross proceeds of the Placing

£2,000,000

Proceeds of the Placing receivable by the Company (after deduction of transaction costs)

£1,725,000

Aggregate number of Option Shares, Warrant Shares and Broker Warrants

5,649,029

Enlarged Share Capital on a fully diluted basis

59,707,090

Enlarged Share Capital as a percentage of fully diluted capital of the Company

90.54%

 

In accordance with Disclosure and Transparency Rule 5.6, the total number of Ordinary Shares in issue immediately following Admission is 54,058,061, each with equal voting rights. The Company does not hold any Ordinary Shares in treasury. This total voting rights figure of 54,058,061 can be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in the Company under the Disclosure 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 - Joao Andrade

Tel: +351 919 033 171

Vicarage Capital Ltd

Broker - Jeremy Woodgate & Rupert Williams

Tel: +44 (0) 20 3651 2912

Shard Capital Partners LLP

Broker - Damon Heath & Erik Woolgar

Tel: +44 (0) 207 186 9950

St Brides Partners Ltd

PR - Elisabeth Cowell & Charlotte Heap

Tel: +44 (0) 20 7236 1177

 

Notes to Editors

 

WideCells Group PLC is building an integrated stem cell services company, focused on making stem cell treatments accessible and affordable. The Directors believe that the use of cord blood stem cells for transplant will drive one of the next important phases in medicine and is therefore developing market leading products in complementary, strategic areas which are designed to take advantage of substantial market opportunities in one of the fastest growing segments in the healthcare industry. With this in mind, it has created 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: a portfolio of best in class stem cell processing and cord blood storage facilities with an existing presence in UK and Brazil

· WideAcademy: developing an education and training division to promote awareness of the benefits of stem cell storage across the global general practice community

 

The Group has built an experienced senior management team that has been integral to the development of its growth and business to date.

 

Stem Cell Fast Facts:

· Cord blood (which is taken from the umbilical cord) provides the most effective source of stem cells for families due to it being 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 this.

· 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 storage often costing no more than a few £thousand, actual treatment can cost in the £hundreds of thousands

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCRFMATMBTTBIF
Date   Source Headline
1st May 20187:02 amRNSAnnual Accounts and Fundraising Update
26th Mar 20187:00 amRNSLandmark deal to launch CellPlan insurance in Asia
19th Mar 20187:00 amRNSGranted Innovate UK KTP for Stem Cell Research
27th Feb 20187:00 amRNSLicence Award from the Human Tissue Authority
19th Feb 20187:00 amRNSBoard Changes and Launch of Wideacademy Platform
21st Dec 20177:00 amRNSCorporate Update
2nd Nov 20177:00 amRNSRevenue generation with White Apex agreement
12th Oct 20177:00 amRNSCellPlan expansion, e-commerce platform launch UK
11th Oct 20177:00 amRNSPartner Secured to Expand into MENA & Asia-Pacific
29th Sep 20177:00 amRNSInterim Results
25th Sep 20177:00 amRNSWideacademy Update, Presenting at Investor Event
15th Aug 20177:00 amRNSRaises £750,000 to support Company's divisions
31st Jul 20177:00 amRNSResearch Licence Granted from HTA
24th Jul 20177:00 amRNSNew product to target the dental market
21st Jul 20177:00 amRNSCellPlan launches E-Commerce Platform in the UK
12th Jul 20177:00 amRNSCorporate Charity Commitment
4th Jul 20177:00 amRNSAgreement to Roll Out CellPlan in Brazil
3rd Jul 20177:00 amRNSInvestor Evening and CFO Now Employed Full-time
27th Jun 20177:00 amRNSRevenue with launch of CellPlan
22nd Jun 20173:30 pmRNSResults of AGM
22nd Jun 20177:00 amRNSAGM Statement and Notice of Investor Evening
12th Jun 20177:00 amRNSWideAcademy Strategic Update
6th Jun 20177:00 amRNSLaunch of CellPlan set to generate maiden revenues
2nd Jun 20177:00 amRNSWideCells Named 21st in Global DISRUPT 100 List
23rd May 20177:00 amRNSAttendance at British Dental Conference
15th May 20177:00 amRNSAttendance at Brazilian Conference
4th May 20172:15 pmRNSHolding(s) in Company
2nd May 20177:40 amRNSPosting of Report and Accounts and Notice of AGM
12th Apr 20171:00 pmRNSPlacing
30th Mar 20177:00 amRNSPreliminary Results
16th Feb 20177:00 amRNSBoard Appointment
31st Jan 20177:00 amRNSDirector Purchases and Grant of Options
30th Jan 20174:40 pmRNSSecond Price Monitoring Extn
30th Jan 20174:35 pmRNSPrice Monitoring Extension
26th Jan 201710:30 amRNSGrant of Options
24th Jan 20177:00 amRNSExtends CellPlan Roll Out & New Product Launch
9th Jan 20177:00 amRNSDefinitive Agreement with BioVault for CellPlan
30th Nov 20167:00 amRNSNew Revenue Stream: Stem Cell Research, Manchester
7th Nov 20167:00 amRNSLOI with 1st Cord Blood Bank to Roll Out CellPlan
24th Oct 20167:00 amRNSCorporate Update
10th Oct 20167:00 amRNSUpdate on CellPlan
27th Sep 20167:00 amRNSPartners with University of Westminster
5th Sep 20167:00 amRNSLaunches WideCells Brasil
12th Aug 20167:00 amRNSHoldings In Company
5th Aug 20167:00 amRNSUpdate on Manchester Facility and Appointments
27th Jul 20168:00 amRNSPlacing & First Day of Dealings

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