REG - OptiBiotix Health - ProBiotix Health plc Fundraise

OptiBiotix HealthAnnouncement

05/09/2024 10:45

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RNS Number : 0782D  OptiBiotix Health PLC  05 September 2024

OptiBiotix Health plc

("OptiBiotix" or the "Company" or "the Group")

 

ProBiotix Health plc Fundraise

 

OptiBiotix plc ("OptiBiotix") notes the announcement made by ProBiotix Health
plc (AQSE: PBX) ("ProBiotix"), the life sciences business developing
probiotics to support cardiometabolic health, on 4 September 2024, that it has
raised £1,226,400 through a share subscription (the "Subscription").

The shares comprised in the Subscription appear to be issued pursuant to an
authority purported to be taken from shareholders by ProBiotix Health plc at
its annual general meeting held on 8 August 2024. However, OptiBiotix legal
advisors have advised the Company that resolution 6 set out in ProBiotix's
notice of annual general meeting (which has still not been filed at Companies
House in breach of section 30 of the Companies Act 2006) contains a
fundamental error (which was not brought to the attention of, or corrected by
the requisite majority at the annual general meeting) by cross referencing the
conditionality of resolution 6 to the passing of "Resolution 8" (which did not
exist). The special resolution is accordingly invalid in accordance with
section 283(6)(c), Companies Act 2006. OptiBiotix will bring this defect to
the attention of AQUIS.

 

 

Neil Davidson, Chairman of OptiBiotix Health plc said: "Given previous public
statements of sufficient funds by ProBiotix, OptiBiotix were surprised at the
timing and level of discount of the Subscription and its highly dilutive
effect on long term investors. OptiBiotix's legal advisors have explained
that, as a consequence of the invalidity of the special resolution purportedly
passed at the 2024 annual general meeting, ProBiotix do not currently have the
right to issue equity on a non pre-emptive basis given that the prior
authority taken at the 2023 annual general meeting expired at the conclusion
of the 2024 annual general meeting. OptiBiotix will bring this matter to the
attention of AQUIS."

 

This announcement contains information which, prior to its disclosure, was
considered inside information for the purposes of the UK Market Abuse
Regulation and the Directors of the Company are responsible for the release of
this announcement.

 

 For further information, please contact: OptiBiotix Health plc      www.optibiotix.com (http://www.optibiotix.com/)
 Neil Davidson, Chairman           Contact via Walbrook below
 Stephen O'Hara, Chief Executive

 Cairn Financial Advisers LLP (NOMAD)                                Tel: 020 7213 0880
 Liam Murray / Jo Turner / Ludovico Lazzaretti

 Peterhouse Capital Limited (Broker)                                 Tel: 020 7220 9797
 Duncan Vasey / Lucy Williams

 Walbrook PR Ltd                                                     Mob: 07876 741 001
 Anna Dunphy

 

About OptiBiotix - www.optibiotix.com (http://www.optibiotix.com/)

OptiBiotix Health plc (AIM: OPTI), which was formed in March 2012, brings
science to the development of compounds which modify the human microbiome -
the collective genome of the microbes in the body - in order to prevent and
manage human disease and promote wellness.

 

OptiBiotix has an extensive R&D programme working with leading academics
in the development of microbial strains, compounds, and formulations which are
used as active ingredients and supplements. More than twenty international
food and healthcare supplement companies have signed agreements with
OptiBiotix to incorporate their human microbiome modulators into a wide range
of food products and drinks.

 

OptiBiotix is also developing its own range of consumer supplements and health
products. The Company's current areas of focus include obesity, cardiovascular
health, and diabetes.

 

 

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