Admission to Main Market, First Day of Dealings

RNS Number : 5755X

Graft Polymer (UK) PLC

06 January 2022

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND DEPENDENCIES, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (COLLECTIVELY, THE "UNITED STATES"), CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW

6 January 2022

Graft Polymer (UK) Plc

("Graft Polymer", the "Company", and together with its subsidiaries, the "Group")

Admission to Main Market, First Day of Dealings

Graft Polymer (UK) Plc (LSE: GPL), a business focused on the development of polymer modification, bio/food supplements and drug delivery systems, is pleased to announce the admission of its entire issued ordinary share capital to trading on the Main Market of the London Stock Exchange. Admission will take place and dealings will commence at 8.00 a.m. today under the ticker GPL. The Company's Admission Document is available to view on the Company's website at www.graftpolymer.com .  

Established in 2017 by a group of polymer technology experts and venture capitalists, Graft Polymer's core business comprises polymer modification and development of drug delivery systems. The Group is a highly innovative business with strong intellectual property holding several patent applications. The fundraising of £5 million is to fund accelerated growth, expand the Group's research and production facility in Slovenia to meet rising customer demand, upgrade existing facilities to enable future IP registration, and increase both inventory and marketing opportunities following expected increased sales.

Key highlights:

·     Based on the Placing Price of 21.5p, the market capitalisation of the Company will be approximately £22.4m at Admission.

·     Placing raised approximately £5 million gross to fund expansion of research and production facility, upgrade existing laboratories, accelerate growth and increase both inventory and marketing abilities.

· The Company's ISIN is GB00BMD1Z199 and its SEDOL is BMD1Z19.

· Turner Pope is acting as Sole Broker in relation to the Placing and Admission. Memery Crystal LLP has been engaged as the Group's legal advisor.

· Following Admission, the Company will have c. 104m Ordinary Shares in issue.

Victor Bolduev, chief executive officer, commented:  "Our admission to the LSE's Main Market is an exciting milestone for Graft Polymer. The successful completion of our IPO represents the beginning of a new chapter as we look to develop new and innovative polymer modification technologies both in-house and in conjunction with key industry players and customers.

Graft Polymer's listing will provide the Company with further capital to accelerate our development of intellectual property as well as new technologies to provide novel products and solutions for market challenges that arise. We believe the diversity of our products enables us to deliver to various industries highlighting the IPO as the first-of-its-kind in London."

For more information, please visit https://www.graftpolymer.com   or contact:

Graft Polymer (UK) Plc	via Tavistock
Roby Zomer, Chairman
Yifat Steuer, CFO
Turner Pope Investments (Broker)	[phone]
James Pope
Andy Thacker
Tavistock (Public Relations)	[phone]
Heather Armstrong	[e-mail]
Tim Pearson

Notes to editors

Graft Polymer is a UK incorporated holding company with an innovative research and manufacturing facility, based in Slovenia. The core business of the Group comprises polymer modification and drug delivery systems developments. Established in 2017, the Group has already introduced more than 50 products to the market.

The Group has developed a proprietary set of polymer modification technologies, which can improve existing products and processing methodologies by enhancing performance, simplifying manufacturing, reducing material consumption, widening the choice of feedstocks, and reducing costs.

In particular, the Group's techniques allow the combination of otherwise incompatible polymers, facilitating the creation of polymer composites engineered at a molecular level, that combine the attractive properties of different input materials. This enables customers to receive a synergism of properties in polymer composites.

The solutions and products offered by the Group are designed to improve performance, reduce raw materials consumption, and enhance the physical characteristic values of finished products or improve or modify their chemical interaction. In the past several years, there has been increased emphasis by the industry as a whole on applications of grafted polymers, which are produced by monomers being covalently bonded and polymerised as side chains onto the main polymer chain (the backbone).

In 2020, the Group launched a new division named GraftBio to develop IP for Bio/Pharma applications. This includes a drug delivery system to support and provide solutions to the market, which had been heavily impacted by the COVID-19 pandemic. The GraftBio division is in the process of obtaining the HACCP certification for its production facility. The Group has developed a set of drug delivery platforms that enable it to licence its DDS platform (IP) to MGC Pharmaceuticals Limited ("MGC"; LSE: MXC) in relation to MGC's CimetrA™ and CannEpil-IL™ products. The Group expects to receive royalty payments resulting from the sale by MGC of CimetrA™ and CannEpil-IL™ products .

 

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