Result of General Meeting

RNS Number : 1817Q
Belluscura PLC
16 February 2023
 

16 February 2023

 

Belluscura plc  

("Belluscura", the "Company" or the "Group")  

 

Result of General Meeting

 

Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces that at the General Meeting held earlier today all the resolutions put to the meeting were duly approved by Shareholders: 

 

Resolution
(*indicates special resolution)

Votes for

% of shares voted

Votes against

% of shares voted

Resolution 1:  To allot Shares re. Loan Notes.

45,373,293

99.94%

25,010

0.06%

Resolution 2*:  To disapply Statutory
Pre-Emption Rights re. Loan Notes.

45,373,293

99.94%

25,010

0.06%

Resolution 3*:  To amend Articles of Association re. Article 23 and limit on borrowing powers.

45,373,293

99.94%

25,010

0.06%

 

The Company is also pleased to confirm that as a result of obtaining Shareholder approval for each of the Resolutions as they relate to the issue of the Convertible Loan Notes through the recent Placing and Broker Option, the Company has raised total gross proceeds of approximately $5.8 million (£4.7 million).

 

The net proceeds of the Placing and Broker Option will be used to support the Company in delivering on a successful launch of the DISCOV-R product, which is expected to be launched for pre-market evaluation by the end of Q1 2023, with full commercialisation anticipated in the latter part of Q2 2023.

 

Terms of the Loan Notes  

 

As previously announced, the key terms of the Loan Notes are:  

 

Instrument

Convertible Unsecured Loan Notes. The Loan notes will be transferable but will not be listed on a public market  

 

Issue Price

Loan Notes of £1.00 issued at par  

 

Conversion

Convertible into ordinary shares at a price of 50 pence per share.  Conversion at the holder's election on the final business day of each quarter and at maturity  

 

Repayment

On maturity, unless otherwise converted  

 

Term

Three years from date of issue  

 

Coupon

10% per annum, paid annually.  The coupon to be paid in cash or capitalised at the Company's discretion

 

Minimum size

£1,000

 

ISIN

GB00BMTXJV75

 

 

Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcement made by the Company at 12:41 on 27 January 2023 and the Company's Circular.

 

For further information please contact:

 

Belluscura plc  

Tel: +44 (0)20 3128 8100 

Adam Reynolds, Chairman 

Robert Rauker, Chief Executive Officer 

Anthony Dyer, Chief Financial Officer 




SPARK Advisory Partners Limited  (Nomad)

Tel: +44 (0)20 3368 3550 

Neil Baldwin 




Dowgate Capital Limited  (Broker)

Tel: +44 (0)20 3903 7715 

James Serjeant / Russell Cook 




MHP  (Financial PR & Investor Relations)

Tel: +44 (0)20 3128 8100 

Katie Hunt / Pete Lambie / Matthew Taylor 

 belluscura@mhpgroup.com 

 

 

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Belluscura (BELL)
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