Yourgene Health PLC Earn-out Milestone, Issue of Equity & TVR (0541V)
April 12 2021 - 1:00AM
UK Regulatory
TIDMYGEN
RNS Number : 0541V
Yourgene Health PLC
12 April 2021
Yourgene Health plc
("Yourgene" or the "Group" or the "Company")
Earn-out Milestone, Issue of Equity & Total Voting
Rights
Manchester, UK - 12 April 2021: Yourgene (AIM: YGEN), the
international molecular diagnostics group, announces an issue of
equity pursuant to the terms of the acquisition of Coastal(R)
Genomics Inc. ("Coastal") which completed in August 2020 (the
"Acquisition").
As announced on 1 March 2021, the supply agreement signed with a
large US clinical laboratory group triggered the first earn-out
milestone under the terms of the Acquisition.
This milestone payment comprises 4,696,065 new shares in the
Company's wholly owned subsidiary, Yourgene Health Canada
Investment Ltd ("YGEN-HCIL"), which have now been issued to the
former shareholders of Coastal. These YGEN-HCIL shares are
exchangeable on a one-for-one basis with the Company's ordinary
shares, subject to certain lock-in provisions over the next one to
six years.
In addition to the above issue of YGEN-HCIL shares, 81,899 new
ordinary shares in the Company will be issued to a US-based
individual, who has elected to receive his earn-out payment in this
form. Application will be made to the London Stock Exchange to
admit the 81,899 new ordinary to trading on AIM. Admission of the
new ordinary shares is expected to occur on or around 15 April
2021. The new ordinary shares will rank pari passu with the
existing ordinary shares.
Total Voting Rights
For the purpose of the Disclosure and Transparency Rules,
following the issue of Company shares detailed above the enlarged
issued share capital of the Company will comprise 723,145,182
ordinary shares of 0.1p each. The Company does not hold any
ordinary shares in treasury. The above 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
and Transparency Rules.
In addition, as a result of the issuance of the YGEN-HCIL shares
detailed above there are now a total of 14,945,689 unlisted
YGEN-HCIL shares issued which are exchangeable on a one-for-one
basis for the Company's shares as described above.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation. The Directors of the Company
take responsibility for this announcement.
Yourgene Health plc Tel: +44 (0)161 669 8122
Lyn Rees, Chief Executive Officer investors@yourgene-health.com
Barry Hextall, Chief Financial Officer
Joanne Cross, Director of Marketing
Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 7213 0880
Liam Murray / James Caithie / Ludovico
Lazzaretti
N+1 Singer (Joint Corporate Broker) Tel: +44 (0)20 7496 3000
Aubrey Powell / Tom Salvesen / George
Tzimas
Stifel Nicolaus Europe Limited (Joint Tel: +44 (0)20 7710 7600
Corporate Broker)
Nicholas Moore / Matthew Blawat / Ben
Maddison
Walbrook PR Ltd (Media and Investor Tel: +44 (0)20 7933 8780 or yourgene@walbrookpr.com
Relations)
Paul McManus / Lianne Cawthorne Mob: 07980 541 893 / Mob: 07584 391 303
About Yourgene Health
Yourgene Health is an international molecular diagnostics group
which develops and commercialises genetic products and services.
The group works in partnership with global leaders in DNA
technology to advance diagnostic science.
Yourgene primarily develops, manufactures, and commercialises
simple and accurate molecular diagnostic solutions, for
reproductive health, precision medicine and now infectious
diseases. The Group's flagship products include non-invasive
prenatal tests (NIPT) for Down's Syndrome and other genetic
disorders, Cystic Fibrosis screening tests, invasive rapid
aneuploidy tests, and a recent extension into the oncology space
with DPYD genotyping.
The launch of Yourgene Genomic Services has enabled Yourgene to
offer a global laboratory service network equipped to be a full
life-cycle partner for clinical, research and pharmaceutical
organisations to support partners at the preclinical, clinical, and
post-market stages to develop, manufacture, obtain regulatory
approval and commercialise new products and services. In addition,
Yourgene Genomic Services offers an NIPT and high throughput COVID
testing service.
In August 2020, Yourgene acquired Coastal Genomics, Inc., a
sample preparation technology company based in Vancouver, Canada,
enabling the Company to extend its offering and IP portfolio in the
DNA sample preparation sector. The acquisition increased Yourgene's
geographical penetration into the US and Canada, supplementing
existing coverage in the UK, Europe, MEA and Asia.
Yourgene Health is headquartered in Manchester, UK with offices
in Taipei, Singapore, the US and Canada, and is listed on the
London Stock Exchange's AIM market under the ticker "YGEN". For
more information visit www.yourgene-health.com and follow us on
twitter @Yourgene_Health.
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