Intuitive Investments Group plc Investment in Ocutec Limited (5063B)
February 14 2022 - 1:59AM
UK Regulatory
TIDMIIG
RNS Number : 5063B
Intuitive Investments Group plc
14 February 2022
Intuitive Investments Group plc
("IIG" or the "Company")
Investment in Ocutec Limited
Intuitive Investments Group plc (AIM: IIG) ("IIG" or the
"Company"), a closed-end investment company focussed on the life
sciences sector, announces an investment of GBP250,000 to acquire
156,250 new ordinary shares in Ocutec Limited ("Ocutec"),
representing a 6.04 per cent. interest in Ocutec's enlarged share
capital, as part of a GBP1.36 million fundraising round.
Ocutec has patented technology covering the formulation of novel
contact lens products, contact lens comfort solutions and injection
moulding technology for rapid manufacturing. Ocutec is based in
Glasgow, and has been operating since 2006, having been spun out of
the University of Strathclyde. Further information can be found on
its website: https://www.ocutec.com/ .
According to its unaudited management accounts for the six
months to 31 October 2021, Ocutec had no revenue and a loss after
tax of GBP377,386 and, at 31 October 2021, had unaudited net assets
of GBP4,447,137 .
Stewart White, Chairman of IIG's Advisory Panel and a member of
the Company's Investment Team, acts as a consultant to Ocutec.
As part of Ocutec's fundraising, Robert Naylor, IIG's CEO, and
Malcolm Gillies, IIG's Senior Non-Executive Director, have each
personally invested GBP50,000 giving each of them a 1.21 per cent.
interest in Ocutec's enlarged share capital. Accordingly, neither
Robert Naylor nor Malcolm Gillies voted as members of the Board
approving the Investment.
For further information, please contact:
Intuitive Investments Group plc www.iigplc.com
David Evans, Executive Chairman Via Walbrook PR
Robert Naylor, CEO
SP Angel Corporate Finance LLP - Nominated Adviser +44 (0) 20 3470 0470
Jeff Keating / David Hignell / Kasia Brzozowska
Turner Pope Investments (TPI) Ltd - Broker +44 (0) 20 3657 0050
Andrew Thacker / James Pope
Walbrook PR Limited - Media & Investor Relations +44 (0)20 7933 8780 or intuitive@walbrookpr.com
Paul McManus / Sam Allen +44 (0) 7980 541 893 / +44 (0) 7502 558 258
About Intuitive Investments Group plc
Intuitive is an investment company seeking to provide investors
with exposure to a portfolio concentrating on fast growing and/or
high potential Life Sciences businesses operating predominantly in
the UK, continental Europe and the US, utilising the Board's
experience and in particular that of the Chairman, David Evans, to
seek to generate capital growth over the long term for
shareholders.
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