Result of AGM
RNS & Investor News
Increased investment in The Healthy Weight Loss Company Ltd
03 January 2017
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces an increase in its investment in its majority owned subsidiary The Health Weight Loss Company Limited ("THWLC").
Under the terms of the agreement OptiBiotix has made an investment of £75,000 to provide working capital to support marketing and an increase in stock levels. This investment increases OptiBiotix's shareholding in THWLC to 64%.
OptiBiotix announced on 26 July 2016 that it had acquired a majority shareholding in THWLC to incubate new technological solutions and develop wider product applications in weight management. THWLC produces GoFigure® products containing SlimBiome® which incorporates OptiBiotix's patented combination of natural ingredients developed by experts to support weight loss (see www.GoFigureDiet.com). Since investment:-
- THWLC has gained over 1,000 customers, retail listings in over 80 stores, and 4 distributorships in the UK and Iceland
- Sales have outperformed expectations with GoFigure® products receiving excellent customer reviews on Amazon and customer surveys reporting average weight loss of 2 1/2lbs per week
- GoFigure® was voted finalist in "Best New Health & Nutrition" at the 2016 European Natural & Organic Awards
- As announced on 13 December 2016 GoFigure® products have attracted corporate interest leading to an agreement with a major multinational to develop food and Over The Counter ("OTC") products containing OptiBiotix's SlimBiome® technology for the Asian market,
This increased investment will provide THWLC with the resources to build on its early success to:-
- Invest in product marketing at key seasonal periods
- Provide the marketing support required for listing in major retail outlets
- Increase the number of retail listings, particularly with major retail outlets, selling GoFigure® products both within the UK and internationally
Stephen O'Hara, CEO of OptiBiotix, commented: "We are really pleased with the progress of THWLC and the rapid sales growth of its GoFigure® products which have shown the unique ability of our SlimBiome® technology to help customers lose weight without feeling hungry, leading to easier and more successful dieting. Our belief in the potential of THWLC is demonstrated by this additional investment which provides funds to invest in marketing, to build stock levels to meet the seasonal demand for weight management products, and to support an increase in retail listings, particularly with major retail outlets. I am sure investors will recognise that given the early success of GoFigure® products, which has been achieved without any marketing, there is potential for strong sales growth of GoFigure® products over the next few years and substantial value enhancement."
For further information, please contact:
|OptiBiotix Health Plc
Stephen O'Hara, Chief Executive
Contact via Walbrook below
|Cairn Financial Advisers LLP
|Tel: 020 7213 0883|
Adrian Hargrave / Scott Mathieson / Kate Bannatyne (Corporate Finance)
Tony Quirke (Corporate Broking)
|Tel: 020 7220 0500|
|Walbrook PR Ltd
|Tel: 020 7933 8780 or [email protected]
Mob: 07876 741 001
Mob: 07900 608 002
About OptiBiotix - www.optibiotix.com
OptiBiotix was formed in March 2012 to develop compounds which modify the human microbiome - the collective genome of the microbes in the body - to prevent and manage human disease.
The aim of OptiBiotix is to discover and develop microbial strains, compounds and formulations, which modulate the human microbiome and can be used as food ingredients and supplements or active compounds for the prevention and management of human metabolic diseases, examples of which include obesity, cholesterol and lipid distribution and diabetes.
OptiBiotix has established a pipeline of microbiome modulators that can impact on lipid and cholesterol management, energy harvest and appetite suppression. The development pipeline is fuelled by its proprietary OptiScreen® and OptiBiotic® platform technologies designed to identify metabolic pathways and compounds that impact on human physiology and bring potential health benefits. These platforms are applicable across a wider range of other human diseases.
About The Healthy Weight Loss Company
The Healthy Weight Loss Company (THWLC) is jointly owned by OptiBiotix Health plc (64%), Anna Maia, and Max Tomlinson. The Company was formed in July 2016 as a platform for OptiBiotix to incubate new technological solutions and develop wider product applications in weight management.
The technology incubator was created to provide an effective way to substantiate the commercial viability of early product concepts. THWLC sells GoFigure® snacks and shakes containing OptiBiotix's proprietary Slimbiome® technology under a non-exclusive UK license agreement. www.GoFigureDiet.com. The use of SlimBiome® in the GoFigure® range establishes use of the technology in food products and supports the wider use of Slimbiome® technology in dietary supplements and over the counter (OTC) applications, both in the UK and internationally.
OptiBiotix Health secures significant exclusive licence agreement for OptiBiome
Stephen O'Hara | 01 Apr 2020