Byotrol PLC Trading Statement (4855K)
April 11 2018 - 1:00AM
UK Regulatory
TIDMBYOT
RNS Number : 4855K
Byotrol PLC
11 April 2018
11 April 2018
Byotrol plc ("Byotrol" or the "Company")
Trading Update
Byotrol is pleased to announce good progress over the last 12
months and provides a trading update for the year ended 31 March
2018. This has been a year of significant investment in both the
business and its technologies.
Following a further commercial agreement ("the Agreement") with
Solvay, the Company expects EBITDA for the year to 31 March 2018 to
be in line with market expectations.
The Agreement relates to the ongoing Actizone surface care
project and involves a sale by Byotrol to Solvay of Actizone
patents and intellectual property, in return for:
-- substantial cash payments in financial years ending March 2018 and March 2019;
-- an ongoing royalty on all Solvay Actizone sales thereafter,
with minimum guarantees in years ending March 2020 and 2021;
-- a further payment in early 2022 should Solvay sales exceed
certain sales targets in 2021; and
-- Byotrol retains the ongoing rights to sell Actizone technologies in finished product form.
The Agreement significantly increases the total development
resources available for Actizone and frees-up Byotrol resources to
commercialise its technologies. There remains an ongoing
collaboration with Solvay and the two companies continue to work on
development projects across a number of long-lasting anti-microbial
technologies.
The Company also continues to make good progress in the US:
-- 50 of 52 US states have now formally approved Byotrol's
EPA-registered, long-lasting anti-microbial surface sprays. The
remaining two (Georgia and Maryland) are expected imminently.
-- Byotrol remains on target for a US retail trial in the summer.
In the last financial year we have added several high-quality
professionals, including in the last month a new Head of Sales who
was previously National Sales Manager of 365Healthcare, a GBP50m
turnover subsidiary of Bunzl Healthcare (and one of a small team
that built the business from its start in 2006 to its ultimate sale
to Bunzl Healthcare in 2015).
The Company remains well-financed and is starting the new
financial year with cash resources of GBP4.7m.
We will provide further detail on continuing progress with the
preliminary results, which we expect to announce in July 2018.
David Traynor, Chief Executive of Byotrol, said:
"We are very pleased with our progress over the last financial
year and are excited about the emerging opportunities for our
technologies, supported by continuing strong commercial
relationships and a very healthy balance sheet."
Enquiries:
Byotrol plc
David Traynor - Chief Executive 01925 742 000
finnCap
Geoff Nash/Kate Bannatyne - Corporate Finance 020 7220 0500
Stephen Norcross/Richard Chambers - Corporate Broking
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a leading anti-microbial
technology company, operating globally in the Food, Industrial,
Healthcare and Consumer sectors, providing low toxicity products
with a broad-based and long-lasting efficacy across all microbial
classes; bacteria, viruses, fungi, moulds, mycobacteria and
algae.
Powerful, long-lasting and gentle, Byotrol's products can be
used stand-alone or as ingredients within existing products, where
Byotrol can significantly improve their performance, especially in
personal hygiene, domestic and industrial disinfection, odour
control, food production and food management.
Founded in 2005, the Company develops technologies that create
easier, safer and cleaner lives for everyone.
For more information, please go to www.byotrol.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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