Notification of transactions of Directors

RNS Number : 1651C

WideCells Group PLC

27 September 2018

 

27 September 2018

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

Notification of transactions of Directors

In connection with bond issuance by the Group, announced earlier today, the Group announces that directors João Andrade, CEO, and David Bridgland, CFO, have entered into share lending agreements (the 'Lending Agreements') with European High Growth Opportunities Securitization Fund (the 'Investor') in support of the bond issuance.

Pursuant to the Lending Agreements, each of the directors has agreed to lend and transfer to the Investor 8,388,333 and 2,070,648 ordinary shares in the Company ('Ordinary Shares') respectively (the 'Lent Shares'), for the purpose of enabling the Investor to sell Ordinary Shares prior to the publication of an FCA approved prospectus, if a prospectus is required in order to apply for listing on the Official List and to trading on the Main Market of the London Stock Exchange of the resulting shares ('Admission') as if Ordinary Shares had been issued to the Investor on the conversion of bonds and/or the exercise of warrants by the Investor.

The Investor has agreed to redeliver to João Andrade and David Bridgland the number of Ordinary Shares equal in number to the number of Lent Shares lent by each of them in certain circumstances, including on the payment to the Group by the Investor of the second tranche of £1,000,000 of bonds (in gross principal amount) following the publication of an FCA approved prospectus in respect of the Admission of Ordinary Shares arising on the conversion of such bonds and on the exercise of warrants issued contemporaneously with the issue of the second tranche of bonds.

Under the Lending Agreements the Investor has agreed to pass on to João Andrade and David Bridgland any dividends that the Company pays in respect of the Lent Shares (together with any other right received in respect of the Lent Shares) and for so long as the Investor is the registered holder of any Lent Shares, the Investor shall exercise all voting rights attached to such Lent Shares in such manner as João Andrade and David Bridgland may direct. Because of these rights and, particularly, the right to the redelivery of Ordinary Shares described above, João Andrade and David Bridgland retain an interest in Ordinary Shares.

WideCells' Chairman, Peter Presland, said, "João and David have long shown their support and confidence in the potential of our company and this share lending agreement further reinforces this. Through their share support we are able to secure a financing deal to provide us with security moving forward so that we can focus on building the sales of our innovative stem cell services to build sustainable value for our stakeholders."

**ENDS**

For further information, please visit the Group's website www.widecellsgroup.com, follow us on Twitter @WideCells_Group or contact:

WideCells Group PLC	CEO - João Andrade	Tel:  [phone] E: [e-mail]
Smaller Company Capital Limited	Broker - Jeremy Woodgate & Rupert Williams	Tel: [phone]
Shard Capital Partners LLP	Broker - Damon Heath & Erik Woolgar	Tel: [phone]
St Brides Partners Limited	PR - Charlotte Page & Isabel de Salis	Tel: [phone]

 

END

 

 

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