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LONDON, UNITED KINGDOM , May 28, 2021 (GLOBE NEWSWIRE) -- Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group focused on creating valuable products from investing in university technologies that can improve quality of life, is pleased to announce that its portfolio company Belluscura plc has been admitted to the AIM Market of the London Stock Exchange and will commence trading today. Its ordinary shares trade on the AIM market under ticker AIM: BELL.
Tekcapital holds 17.1m shares of Belluscura plc. At the IPO Price of 45 pence per Belluscura share, Tekcapital’s holding is worth ~ US$10.8m, which represents an uplift of ~US$8.8m, on the book value of the Company’s holding in Belluscura (as at 30 November 2020). As part of the IPO process, Tekcapital’s shares are subject to a 12 month lock-in period as required by AIM Rule 7.
“Our congratulations to Robert Rauker and the Belluscura team on a job well done! The IPO of Belluscura represents the first public listing of one of TekCapital’s portfolio companies. It has been achieved at a valuation which is substantially higher than the book value of the Company’s holding in Belluscura and we are delighted that the fundraise was oversubscribed. We look forward to following Belluscura’s success on AIM going forward.” said Dr. Clifford Gross, Executive Chairman of Tekcapital.
About Belluscura plc
Belluscura is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health and economic outcomes for the patients, healthcare providers and insurance organisations. For more information please visit www.belluscura.com.
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.
Forward Looking Statements & Disclaimer
This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Tekcapital that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, on social media, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Tekcapital’s management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Forward-looking statements express, as at the date of this release, the Company’s plans, estimates, valuations, forecasts, projections, opinions, expectations or beliefs as to future events, results or performance. Forward-looking statements involve a number of risks and uncertainties, many of which are beyond the Company’s control, including those associated with COVID-19, and there can be no assurance that such statements will prove to be accurate. No assurance is given that such forward looking statements or views are correct or that the objectives of the Company will be achieved. Further, valuations of Company’s portfolio investments and net asset value can and will fluctuate over time due to a variety of factors and this could have a material negative impact on the Company’s financial performance. Tekcapital neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which may differ from those anticipated.
CONTACT: Tekcapital Plc Via Skyline Corporate Communications Clifford M. Gross, Ph.D. Skyline Corporate Communications Group, LLC (U.S.) Matthew Abenante/Scott Powell +1 646 893 5835