Completion of Acquisition

RNS Number : 1834R
Venture Life Group PLC
07 March 2016

Venture Life Group PLC


("Venture Life" or the "Company")


Completion of Acquisition and Results of Convertible Bond Issue


Bracknell, UK - 7 March 2016: Venture Life Group PLC (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, announces that it has completed the acquisition of Periproducts Limited (the "Acquisition") in accordance with the timetable announced on 1 March 2016.


As set out in the circular posted to shareholders on 12 February 2016 (the "Circular"), the Company intended to fund the Acquisition through its own resources and by way of a Placing of new ordinary 0.3p shares ("Ordinary Shares") up to a value of £1.7m and a Convertible Bond Issue, up to £2.0m. 


As also announced by the Company on 12 February 2016 a total of 2,428,572 new Ordinary Shares were placed by Panmure Gordon at a price of 70 pence per share to raise £1.7 million (before expenses) for the Company. The Convertible Bond Issue was arranged through UK Bond Network and, following the completion of the UK Bond Network auction process on 2 March 2016, the Company issued Convertible Bonds to the value of £1.9m.  The Convertible Bonds will pay a coupon of 9% p.a., are convertible into new Ordinary Shares at a conversion price of 87.5p and are due to be repaid by the Company on 2 March 2019.


Two Directors participated in the Convertible Bond Issue, as previously notified and as follows:


Jerry Randall

Chief Executive Officer


Gianluca Braguti

Manufacturing Director



Unless otherwise defined herein, terms defined in the Circular (which is also available on the Company's website ( have the same meanings in this announcement.


For further information please contact:

Venture Life Group PLC

Jerry Randall, Chief Executive Officer                                                                         +44 (0)1344 742 870

James Hunter, Chief Financial Officer                                                   


Panmure Gordon (UK) Limited (Nominated Adviser and Broker)                             
Freddy Crossley                                                                                                                    +44 (0) 20 7886 2500

Peter Steel

Duncan Monteith                                                                                                           
Corporate Finance


Tom Salvesen
Corporate Broking                                                                                                          


Square1 Consulting

David Bick                                                                                                                                +44 (0)20 7929 5599

Brian Alexander                                                                                                              



About Venture Life


Venture Life is an international consumer self-care company focused on developing, manufacturing and commercialising products for the ageing population. The Group's product range and pipeline currently includes food supplements for lowering cholesterol and maintaining brain function, dermo-cosmetics for addressing the signs of ageing, and medical devices for improving minor aches and pains, dry eyes and itchy skin. The products, which typically are recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies supplied by the Group's international distribution partners.


Periproducts Limited is an oral care products company with a range of premium products including mouthwashes, which are alcohol-free, and toothpastes. Products in Periproducts' leading range, UltraDEX®, are used to treat bad breath, remineralise and whiten teeth and kill bacteria which cause plaque, which can in turn lead to tooth decay and gum disease. Incorporating patent protected and licensed intellectual property, the UltraDEX® products, including UltraDEX® Recalcifying & Whitening range, are regarded as being particularly effective at managing bad breath, as supported by clinical data evidencing efficacy. 


Through its manufacturing company, Biokosmes, the Group also provides development and manufacturing services to companies in the medical devices and cosmetic sectors.


The Group's own branded products are currently sold or partnered in over 40 countries and currently include:


           ·     food supplements to maintain brain function and memory;

           ·     dermo-cosmetics for addressing the signs of skin ageing and hair loss, and

           ·     medical devices for improving conditions such as minor aches and pains, dry eyes and itchy skin.


The Company has a healthy development pipeline including products in areas such as diabetes, cardiovascular health, obesity, cognitive function and skin ageing. Products coming from the pipeline will be expected to have intellectual property protection and be supported by independent clinical evidence of efficacy.

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