TIDMPHC
RNS Number : 6639D
Plant Health Care PLC
23 June 2023
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE
RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES OF AMERICA, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF
SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR IN OR INTO ANY
OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW
OR REGULATION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 (AS AMED) ("MAR"). IN ADDITION, MARKET
SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF CERTAIN OF
THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT
CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS
PERMITTED BY MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND
SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE
INFORMATION.
23 June 2023
Plant Health Care plc
("Plant Health Care", or the "Company")
Results of Fundraising
Plant Health Care plc, a leading provider of novel
patent-protected biological products to global agricultural
markets, today announces that, further to its announcement at 4.35
p.m. on 22 June 2023 (the "Fundraising Announcement"), it has
successfully raised GBP2.8 million (approximately US$3.6 million)
before expenses through the issue of 18,371,654 Placing Shares and
12,676,746 Subscription Shares (together, the "New Ordinary
Shares"), in each case at an Issue Price of 9 pence per share. The
Bookbuild has now closed.
Capitalised terms used in this announcement (this
"Announcement") have the meanings given to them in the Fundraising
Announcement, unless the context provides otherwise.
Director Participation
The following Directors of the Company have participated in the
Fundraising:
Name of Director Number of New Total Ordinary Total interest
Ordinary Shares Shares following in the enlarged
acquired the Fundraising issued share
capital
Christopher Richards 500,000 5,130,427 1.50%
Jeff Tweedy 69,793 1,958,341 0.57%
Jeff Hovey 69,793 1,059,854 0.31%
James Ede-Golightly 310,488 310,488 0.09%
William Lewis 310,488 940,951 0.28%
----------------- ------------------ -----------------
Subscription
In addition, the Company has entered into Subscription
Agreements with Scobie Ward and Ospraie AG Science LLC to subscribe
for 8,811,344 and 3,104,840 Subscription Shares respectively at the
Issue Price.
Following the Subscription, the beneficial interests of Scobie
Ward and Ospraie AG Science LLC are as follows:
Name of Subscriber Number of New Total Ordinary Total interest
Ordinary Shares Shares following in the enlarged
acquired the Fundraising issued share
capital
-------------------- ----------------- ------------------ -----------------
Scobie Ward 8,811,344 38,984,624 11.41%
Ospraie AG Science
LLC 3,104,840 58,072,790 17.00%
-------------------- ----------------- ------------------ -----------------
Admission
Completion of the Fundraising remains subject, inter alia, to
Admission of the Placing Shares and Subscription Shares. It is
expected that dealings in the Placing Shares and the Subscription
Shares will commence at 8.00 a.m. on 28 June 2023 (or such time
and/or date as the Company and Cenkos may agree, being not later
than 12 July 2023).
In aggregate, the Placing and Subscription Shares will
constitute approximately 9.09 per cent. of the enlarged issued
share capital of the Company on Admission (assuming no further
issuance of Ordinary Shares prior to Admission).
Total voting rights
Following Admission of the Placing Shares and the Subscription
Shares, the Company will have a total of 341,532,952 Ordinary
Shares in issue. With effect from Admission, this figure may be
used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or a change to their interest in the Company, under
the Disclosure Guidance and Transparency Rules of the FCA.
Jeff Tweedy, CEO, commented:
"We are pleased with the strong support from investors for the
placing. The Company has made significant strategic and commercial
progress over recent years. This additional funding will permit the
Company to accelerate product launches in significant markets over
the coming months. We are on track to achieve our target of $30m
revenue in 2025, aiming to be cash positive and profitable by the
end of 2024".
For further information, please contact:
Plant Health Care plc Tel: +1 919 926 1600
Jeff Tweedy, CEO
Jeff Hovey, CFO
Cenkos Securities plc Tel: +44 (0) 20 7391 8900
Neil McDonald - Corporate Finance
Pete Lynch - Corporate Finance
Iain Macarthur - Equity Sales
SEC Newgate - Financial Communications Tel: +44 (0) 7540 106 366
Robin Tozer
George Esmond
Harry Handyside
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jeffrey Tweedy
------------------------------------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------------------------------------ -----------------------------------
b) Initial notification/Amendment Initial notification
------------------------------------------------------------ -----------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------------------------------------------
a) Name Plant Health Care plc
------------------------------------------------------------ -----------------------------------
b) LEI 213800KBQPJZ2FM8QH27
------------------------------------------------------------ -----------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary Shares of 1p each
Identification code
GB00B01JC540
------------------------------------------------------------ -----------------------------------
b) Nature of the transaction Subscription for shares
------------------------------------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.09 69,793
----------
------------------------------------------------------------ -----------------------------------
d) Aggregated information- Aggregated volume N/A
- Price
------------------------------------------------------------ -----------------------------------
e) Date of the transaction 22.06.2023
------------------------------------------------------------ -----------------------------------
f) Place of the transaction AIM, London Stock Exchange
------------------------------------------------------------ -----------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Jeffrey Hovey
------------------------------------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------
a) Position/status Chief Financial Officer
------------------------------------------------------------ -----------------------------------
b) Initial notification/Amendment Initial notification
------------------------------------------------------------ -----------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------------------------------------------
a) Name Plant Health Care plc
------------------------------------------------------------ -----------------------------------
b) LEI 213800KBQPJZ2FM8QH27
------------------------------------------------------------ -----------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary Shares of 1p each
Identification code
GB00B01JC540
------------------------------------------------------------ -----------------------------------
b) Nature of the transaction Subscription for shares
------------------------------------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.09 69,793
----------
------------------------------------------------------------ -----------------------------------
d) Aggregated information- Aggregated volume
- Price N/A
------------------------------------------------------------ -----------------------------------
e) Date of the transaction 22.06.2023
------------------------------------------------------------ -----------------------------------
f) Place of the transaction AIM, London Stock Exchange
------------------------------------------------------------ -----------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Christopher Richards
------------------------------------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------
a) Position/status Non-Executive Chairman
------------------------------------------------------------ -----------------------------------
b) Initial notification/Amendment Initial notification
------------------------------------------------------------ -----------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------------------------------------------
a) Name Plant Health Care plc
------------------------------------------------------------ -----------------------------------
b) LEI 213800KBQPJZ2FM8QH27
------------------------------------------------------------ -----------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary Shares of 1p each
Identification code
GB00B01JC540
------------------------------------------------------------ -----------------------------------
b) Nature of the transaction Placing Participation
------------------------------------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.09 500,000
----------
------------------------------------------------------------ -----------------------------------
d) Aggregated information- Aggregated volume
- Price N/A
------------------------------------------------------------ -----------------------------------
e) Date of the transaction 22.06.2023
------------------------------------------------------------ -----------------------------------
f) Place of the transaction AIM, London Stock Exchange
------------------------------------------------------------ -----------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name William Lewis
------------------------------------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------------------------------------ -----------------------------------
b) Initial notification/Amendment Initial notification
------------------------------------------------------------ -----------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------------------------------------------
a) Name Plant Health Care plc
------------------------------------------------------------ -----------------------------------
b) LEI 213800KBQPJZ2FM8QH27
------------------------------------------------------------ -----------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary Shares of 1p each
Identification code
GB00B01JC540
------------------------------------------------------------ -----------------------------------
b) Nature of the transaction Subscription for shares
------------------------------------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.09 310,488
----------
------------------------------------------------------------ -----------------------------------
d) Aggregated information- Aggregated volume
- Price N/A
------------------------------------------------------------ -----------------------------------
e) Date of the transaction 22.06.2023
------------------------------------------------------------ -----------------------------------
f) Place of the transaction AIM, London Stock Exchange
------------------------------------------------------------ -----------------------------------
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name James Ede-Golightly
------------------------------------------------------------ -----------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------------------
a) Position/status Non-Executive Director
------------------------------------------------------------ -----------------------------------
b) Initial notification/Amendment Initial notification
------------------------------------------------------------ -----------------------------------
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
-------------------------------------------------------------------------------------------------
a) Name Plant Health Care plc
------------------------------------------------------------ -----------------------------------
b) LEI 213800KBQPJZ2FM8QH27
------------------------------------------------------------ -----------------------------------
4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii)
each type of transaction; (iii) each date; and (iv) each place where transactions have been
conducted
-------------------------------------------------------------------------------------------------
a) Description of the financial instrument, type of instrument Ordinary Shares of 1p each
Identification code
GB00B01JC540
------------------------------------------------------------ -----------------------------------
b) Nature of the transaction Subscription for shares
------------------------------------------------------------ -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP0.09 310,488
----------
------------------------------------------------------------ -----------------------------------
d) Aggregated information- Aggregated volume
- Price N/A
------------------------------------------------------------ -----------------------------------
e) Date of the transaction 22.06.2023
------------------------------------------------------------ -----------------------------------
f) Place of the transaction AIM, London Stock Exchange
------------------------------------------------------------ -----------------------------------
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END
ROIEAFKAAAADEAA
(END) Dow Jones Newswires
June 23, 2023 02:00 ET (06:00 GMT)
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