TIDMDVRG
RNS Number : 5404Q
Deepverge PLC
26 February 2021
26 February 2021
DeepVerge PLC
("DeepVerge" or "Company")
Exercise of Warrants
Provides GBP 443k additional working capital for Skin Trust Club
launch
DeepVerge (LSE:DVRG.L), the environmental and life science AI
company, has received notification from warrant holders to exercise
warrants over 1,230,708 shares in the share capital of DeepVerge
("the Subscriber Warrant Shares") at an exercise price of 20 pence.
T he consideration for the exercise of the Subscriber Warrant
Shares
amounts, in aggregate, to a cash value of GBP246,141.60.
In addition, the Company has received notification from its
broker, Turner Pope Investments, to exercise warrants over
1,372,284 shares in the share capital of DeepVerge ("the Broker
Warrant Shares") at an exercise price of 15 pence for 557,999
shares and at an exercise price of 14p for 814,285 shares. T he
consideration for the exercise of the Broker Warrant Shares
amounts, in aggregate, to a cash value of GBP197,699.75.
Gerard Brandon CEO of DeepVerge plc commented:
"DeepVerge has seen annual triple digit percentage revenue
growth, culminating in excess of 330% in H2 2020 alone, and
delivering GBP4.4m revenues for 2020. The recently announced
production orders of GBP3.6m evidences the continued growth in line
with guidance of GBP10m revenue from organic growth for 2021.
"We thank our Broker, Turner Pope Investments, for their
continued support and confidence in DeepVerge. Working with long
term shareholders, they coordinated the exercise of Broker and
Subscriber Warrant Shares for 2018 and 2019 placings, removing a
perceived overhang of shares which were due to expire on the 2nd
May 2021. The Company has been further assured by our Broker and
Subscriber Warrant Shareholders that the exercised shares are held
by long term shareholders with no party having an immediate
intention of disposal.
"As a result, this provides an additional GBP443,841 cash, and
in combination with the undrawn debt of GBP1.5m available to the
Company, provides a strong working capital base to enable continued
sales growth from the expansion of our robust orderbook for
2021."
The Subscriber Warrant Shares and the Broker Warrants Shares
("the Warrant Shares") were allotted on 26 February 2021.
Application will be made for the Warrant Shares to be admitted to
trading on AIM ("Admission"), and Admission is expected to be on or
about 4 March 2021. These shares will rank pari passu with the
ordinary shares of the Company in issue.
Total voting rights
The Company's total issued capital, after the issue of the
Warrant Shares, will be 172,857,347 ordinary shares. As the Company
does not hold any shares in Treasury, this figure 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 to their interest in, the share capital of
the Company following Admission.
Contacts
+44 (0) 7340 055
DeepVerge plc Gerard Brandon, CEO 648
SPARK Advisory Partners
Limited Neil Baldwin/Andrew +44 (0) 113 370
(Nominated Adviser) Emmott 8974
Turner Pope Investments Andy Thacker/Zoe +44 (0) 20 3657
(TPI) Limited (Broker) Alexander 0050
About DeepVerge plc (www.deepverge.com)
DeepVerge is an environmental and life science group of
companies that develops and applies AI and IoT technology to
analytical instruments for the analysis and identification of
bacteria, virus and toxins. Utilising artificial intelligent data
analytics to scientifically prove the impact of skincare product
claims on skin microbiome for most of the top 20 global cosmetic
company clients and remotely detect and identify in real-time,
dangerous pathogens in wastewater treatment plants, drinking water,
rivers, lakes and reservoirs.
Skin Trust Club (www.skintrustclub.com)
Customised skincare routine derived from a home test kit, lab
tested and linked to local environment via a free smartphone App
that updates in real-time and identifies ingredients that suit the
subscribers unique skin microbiome. This revolutionises how you
take care of your skin with your own skincare routine.
Home Test Kit comprises a single swab that maps the skin
microbiome delivering a report that produces the most appropriate
daily skincare routine based on science, not guesswork. Using
real-time air pollution and weather data from the customer's
location, the Skin Trust App builds a complete picture of the skin
microbiome and the impact of local surroundings.
Skin Trust Analysis includes:
-- Microbiome identification and quantification of living
organisms (bacteria, viruses, bacteriophages, fungi, parasites,
etc.) on the skin;
-- Skin gene expression analysis to quantify the biological
activity of living organisms on the skin;
-- Analysis of metabolites in the skin sample;
-- Personal genetic analysis - analyse genomic data to
understand potential skin concerns and future risks but does not
analyse genes to identify inherited diseases.
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END
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