WideCells Group


Issue and Allotment of Ordinary Shares following Exercise of Conversion Rights

News Release | Press Room

22 October 2018

Widecells Group PLC (‘WideCells Group’ or ‘the Group’)

Issue and Allotment of Ordinary Shares following Exercise of Conversion Rights

WideCells Group PLC, the healthcare services group focussed on providing stem cell services and ground-breaking insurance for stem cell treatment, announces that following the financing agreement entered into by the Group and the European High Growth Opportunities Securitization Fund (‘Investor’) (see RNS dated 27 September 2018), pursuant to which the Group issued bonds (‘Convertible Bonds’) convertible into ordinary shares of £0.0025 each in the Group (‘Ordinary Shares’) to the Investor, the Group has now received notice of exercise from the Investor in respect of the exercise by the Investor of its conversion rights under the Convertible Bonds in the principal amount of £10,000.00 at a price per Ordinary Share of £0.004, resulting in the issue to the Investor of 2,500,000 new Ordinary Shares (‘Conversion Shares’).

The Group has agreed, subject only to Admission (as defined below), to issue the Conversion Shares and accordingly application will be made for the Conversion Shares to be listed on the Standard segment of the Official List of the UK Listing Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc (‘Admission’).

Admission is expected to take place on 26 October 2018. The Conversion Shares will rank pari passu in all respects with all existing Ordinary Shares.

Following Admission of the Conversion Shares, the Company’s enlarged issued share capital will comprise 136,019,365 Ordinary Shares with voting rights. The Company does not hold any shares in treasury. The figure of 136,019,365 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

**ENDS**

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

WideCells Group

CEO – João Andrade

Tel:  +351 919 033 171

Shard Capital Partners LLP

Broker – Damon Heath & Erik Woolgar

Tel: +44 (0) 20 7186 9950

St Brides Partners Limited

PR – Priit Piip & Isabel de Salis

Tel: +44 (0) 20 7236 1177

Notes to Editors

WideCells Group PLC

WideCells Group PLC is building an integrated stem cell services company, focused on making stem cell treatments both accessible and affordable.  This is delivered through three divisions:

  • CellPlan: the world’s first stem cell healthcare insurance plan with financial cover for medical treatment, travel and accommodation expenses and concierge service to manage the treatment process.
  • WideCells: The Institute of Stem Cell Technology has been established and is based in the University of Manchester Innovation Centre to focus on stem cell research and regenerative medicine. WideCells also has international cryogenics divisions specialising in stem cell storage.
  • Wideacademy: developing an education and training division to promote awareness of the benefits of stem cell storage across the global general practice community.

Stem Cell Fast Facts:

  • Cord blood (which is taken from the umbilical cord) provides the most effective source of stem cells for families, because it is simple, safe and painless to collect, relative to other sources of stem cells such as bone marrow – WideCells will focus on promoting the collection and storage of cord blood.
  • Since 2005, there has been a 300% increase in the number of illnesses that can be treated using stem cells.
  • 82 illnesses can currently be treated using stem cell procedures.
  • Despite initial collection and storage often costing no more than a few £thousands, actual treatment can cost in the £hundreds of thousands – before the development of an insurance product such as CellPlan, the treatment remained largely available only to Higher Net Worth individuals.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).

Sources

WideCells Group Plc