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Capital reorganisation: Potential for future dividend payments
28 November 2017
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces that it intends to convene a General Meeting ("GM") to seek shareholder consent to undertake a share capital re-organisation to allow the Company to make future dividend payments. There will be no change in the number of Ordinary Shares in issue (or their nominal value) following the capital re-organisation.
The proposed capital reduction will cancel the Company's share premium account. This will create distributable reserves which will be available for the directors of the Company to use for the purposes of paying dividends, either in cash or 'in specie', should circumstances in the future make it desirable to do so.
The capital re-organisation requires both shareholder consent and the approval of the Court. Following the GM, if approved, an application will be made to the Court in order to confirm and approve the Capital Reduction.
Further details will be provided in the notice of AGM.
Stephen O'Hara, CEO of OptiBiotix, commented: "I am pleased to inform shareholders of our plans to allow the Company to make future dividend payments. The ability to make dividend payments provides the flexibility to consider paying a 'dividend in specie' to the Company's shareholders of shares it holds in SkinBioTherapeutics plc, should it be appropriate to do so. This is part of our strategy of building value across OptiBiotix divisions and where possible releasing value back to shareholders."
For further information, please contact:
|OptiBiotix Health Plc
Stephen O'Hara, Chief Executive
Contact via Walbrook below
|Cairn Financial Advisers LLP (NOMAD)
|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
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.
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