Plant Health Regulatory News (PHC)

6 November 2019

Plant Health Care plc

Investment in the Company by Ospraie Ag Science LLC

("Plant Health Care" or the "Company")

Plant Health Care, a leading provider of patent-protected biological products to global agriculture markets, is pleased to announce that it has conditionally raised £2,350,386 (before expenses) through the issue of 34,564,500 new ordinary shares ("Subscription Shares") at a price of £0.068 per share ("Subscription Price"), to Ospraie Ag Science LLC ("OAS") (the "Subscription").

Completion of the Subscription is conditional upon (amongst other things) admission of the Subscription Shares to trading on the AIM market of the London Stock Exchange ("AIM") ("Admission").

OAS is the venture capital arm of Ospraie Management, LLC ("Ospraie"), the New York based investment management firm which specializes in investing in commodities, agriculture and other basic industries on a global basis. OAS identifies solutions to help farmers "Do More With Less" by increasing profitability, improving quality adjusted yield, and reducing environmental impact. OAS' companies not only benefit producers, but generate smarter, healthier, and more efficient food for consumers globally. Utilizing its extensive network and 25 years of experience investing in agriculture, Ospraie is positioned to help farmers achieve a sustainable future.

The Subscription Price represents a premium of 8.3 per cent to the closing mid-market price of the Company's shares on 5 November 2019. Immediately following Admission, the Subscription Shares will represent approximately 16.6% of the Company's issued ordinary share capital.

The Subscription will strengthen the Company's balance sheet and enable it to accelerate sales growth and commercialization of the first products from the Company's ground-breaking PREtec (Plant Response Elicitor) technology, as well as providing additional working capital.

Chris Richards, Plant Health Care CEO, said: "We are delighted to have OAS join our investor community, making funds available to accelerate our plans to generate further growth and shareholder value. Their investment will enable PHC to build upon the growth and profitability of our commercial business and continue the momentum of the commercialization of our exciting PREtec products."

Dwight Anderson, Managing Partner and Co-Founder of Ospraie, said: "Our investment in Plant Health Care aligns well with our mission to invest in companies that help farmers produce more efficiently. PHC's experienced management team and proprietary portfolio of Biological products focused on protecting and stimulating crops will be a strong addition to the Ospraie Ag Science portfolio."

Subscription Agreement

On 5 November 2019, the Company and OAS entered into a subscription agreement ("Subscription Agreement") in connection with the Subscription. The Subscription Agreement is subject to certain conditions including Admission becoming effective by no later than 8.00 a.m. on 12 November 2019 (or such later time and date as the Company and OAS may agree being no later than 8.00 a.m. on 15 November 2019). Under the Subscription Agreement, the Company provides certain warranties to OAS (including in relation to its capacity to enter into the Agreement and its business) which are usual for an agreement of this type.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for Admission. It is expected that Admission will become effective and dealings in the Subscription Shares will commence at 8:00am on 12 November 2019.

The Subscription Shares, when issued fully paid, will rank equally in all respects with the Ordinary Shares including the right to receive any dividends or other distributions declared, made or paid after the date of issue of the Subscription Shares.

Following Admission, the Company's enlarged issued share capital (the "Enlarged Share Capital") will consist of 207,387,381 Ordinary Shares with voting rights. This figure may be used by shareholders of the Company 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules. Plant Health Care does not hold any Ordinary Shares in treasury.

For further information, please contact:

Plant Health Care plc

Chris Richards, CEO Tel: +1 919 926 1600

Arden Partners plc - Broker and NomadJohn Llewellyn-Lloyd / Dan Gee-Summons Corporate Finance) Tel: +44 (0) 20 7614 5900

Fraser Marshall (Equity Sales) 

Company website: www.planthealthcare.com

IMPORTANT NOTICE

This announcement is released by Plant Health Care and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the Subscription as described above, and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Christopher Richards, CEO.