Proteome Sciences PLC Posting of Results, AGM update and loan amendment (1113K)

TIDMPRM

RNS Number : 1113K

Proteome Sciences PLC

20 April 2020

Proteome Sciences plc

("Proteome Sciences" or the "Company")

Posting of Annual Report, further re AGM and loan amendment

Proteome Sciences announces that its Annual Report for the year to 31 December 2019 has been posted to shareholders and is now available on the Company's website: www.proteomics.com .

Due to the ongoing social distancing measures, the Board has determined to convene the Annual General Meeting later this quarter as soon as it is possible to provide a safe environment for all wishing to attend. Formal notice of the Annual General Meeting will therefore be posted to shareholders at a later date.

Loan amendment

On 3 July 2018, the Company entered into a GBP1 million loan facility with Vulpes Investment Management Private Limited ("VIM") (the "Loan"), which was incorrectly announced on 3 July 2018 as being a loan facility with Vulpes Life Sciences Fund. The Vulpes Life Sciences Fund is managed by VIM.

The Directors of Proteome Sciences are now pleased to announce that the Loan has been amended such that the Loan (of which GBP700,000 is currently drawn) and all accrued interest is now repayable on 1 May 2021 (previously 31 December 2019). All other terms of the Loan remain the same as announced on 3 July 2018, including that interest will accrue at the annual rate of 2.5 per cent. above the UK sterling base rate of Barclays Bank plc (the "Loan Amendment").

Mr Martin Diggle, Non-Executive Director of Proteome Sciences, is a director and partner of VIM and manages the Vulpes Life Sciences Fund, which is the shareholder of 22 per cent. of Proteome Sciences. By virtue of Mr Diggle being a director of the Company and a partner and director of VIM, the Loan Amendment constitutes a related party transaction in accordance with the AIM Rules for Companies. Accordingly, the directors independent of the transaction, being all directors of the Company save for Mr Diggle, consider, having consulted with the Company's nominated adviser, that the Loan Amendment is fair and reasonable insofar as the Company's shareholders are concerned.

For further information please contact:

 
 Proteome Sciences plc 
 Dr Ian Pike, Interim Chief Executive       Tel: +44 (0)20 7043 2116 
  Officer 
 Richard Dennis, Chief Commercial Officer 
 
 Allenby Capital Limited (AIM Nominated Adviser & Broker) 
 John Depasquale / Jeremy Porter            Tel: +44 (0) 20 3328 5656

About Proteome Sciences plc. ( www.proteomics.com )

Proteome Sciences plc is a specialist provider of contract proteomics services to enable drug discovery, development and biomarker identification, and employs proprietary workflows for the optimum analysis of tissues, cells and body fluids. SysQuant(R) and TMT(R)MS2 are unbiased methods for identifying and contextualising new targets and defining mechanisms of biological activity, while analysis using Super-Depletion and TMTcalibrator(TM) provides access to over 8,500 circulating plasma proteins for the discovery of disease-related biomarkers. Targeted assay development using mass spectrometry delivers high sensitivity, interference-free biomarker analyses in situations where standard ELISA assays are not available.

The Company has its headquarters in London, UK, with laboratory facilities in Frankfurt, Germany.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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