TIDMPXS
RNS Number : 7072N
Provexis PLC
24 January 2023
24 January 2023
Provexis plc
('Provexis' or the 'Company')
Grant of Share Options
Provexis, the business that develops, licenses and sells the
proprietary, scientifically-proven Fruitflow(R) heart-health
functional food ingredient, announces that on 23 January 2023 it
awarded a total of 50,000,000 options ('Options') over ordinary
shares of 0.1 pence each in the Company ('Ordinary Shares') under
the Provexis 2005 share option scheme to certain directors and
scientific, sales and marketing consultants to the Company.
These Options have an exercise price of 0.83 pence, being the
closing mid-market price on 20 January 2023, and they are subject
to performance criteria (including Ordinary Share price
appreciation). The Options are exercisable, subject to vesting,
between 1 April 2025 and 10 years from the date of grant.
A total of 34,000,000 Options have been awarded to the following
directors:
Director No. of options Existing Total no. Total Options
granted no. of of options as a percentage
options over Ordinary of the Company's
Shares ('Total issued share
Options') capital
Ian Ford - CEO 17,000,000 42,000,000 59,000,000 2.66%
--------------- ----------- ---------------- ------------------
Dr Niamh O'Kennedy
- CSO 17,000,000 38,000,000 55,000,000 2.48%
--------------- ----------- ---------------- ------------------
Following the issue of the new Options, the total number of
Ordinary Shares under option which could be issued if all of the
performance criteria are met is 221,500,000 Ordinary Shares,
representing 10.0 per cent. of the Company's issued share
capital.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them are set out below pursuant to the EU Market
Abuse regulation.
Details of the person discharging managerial responsibilities
1 / person closely associated
a) Name Ian Ford - CEO
Dr Niamh O'Kennedy - CSO
-------------------------- -----------------------------------------------------
Reason for the notification
2
---------------------------------------------------------------------------------
a) Position/status See 1 a) above
-------------------------- -----------------------------------------------------
b) Initial notification Initial notification
/
Amendment
-------------------------- -----------------------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name PROVEXIS PLC
-------------------------- -----------------------------------------------------
b) LEI 21380042E3Y3N9VZ6N48
-------------------------- -----------------------------------------------------
Details of the transaction(s): section to be repeated for (i)
4 each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been
conducted
---------------------------------------------------------------------------------
a) Description of the Ordinary Shares of 0.1p each
financial instrument,
type of instrument
ISIN: GB00B0923P27
Identification code
-------------------------- -----------------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
-------------------------- -----------------------------------------------------
c) Price(s) and volume(s) Director/PDMR Price(s) Volume(s)
Ian Ford - CEO 0.83p per share 17,000,000
----------------- -----------
Niamh O'Kennedy -
CSO 0.83p per share 17,000,000
----------------- -----------
-------------------------- -----------------------------------------------------
d) Aggregated information Price(s) Volume(s)
- Aggregated volume 0.83p per share 34,000,000
- Price -----------
-------------------------- -----------------------------------------------------
e) Date of the transaction 23 January 2023
-------------------------- -----------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------- -----------------------------------------------------
For further information please contact:
Provexis plc Tel: 07490 391888
Dawson Buck, Chairman enquiries@provexis.com
Ian Ford, CEO
Allenby Capital Limited Tel: 020 3328 5656
Nick Naylor / Freddie Wooding
Notes for editors
About Provexis plc
AIM-listed Provexis is focused on the development, licensing and
sales of its proprietary, scientifically-proven Fruitflow(R)
heart-health functional food ingredient.
Fruitflow is a natural, breakthrough ingredient that helps with
platelet aggregation. This helps promote normal blood flow and
circulation, which in turn benefits cardiovascular health.
Fruitflow helps the platelets to circulate freely and smoothly
throughout your blood, without sticking to one another or to the
blood vessels themselves. Freely flowing blood helps reduce stress
on your cardiovascular system.
Fruitflow is a highly concentrated form of bioactives which is
lycopene-free and contains over 30 known anti-platelet compounds.
Published clinical studies have shown that Fruitflow works to
maintain healthy blood flow in a similar way to 75mg aspirin but
with a milder and reversible action; Fruitflow has a similar
antiplatelet effect to a single dose of aspirin - but when taken
daily, it has none of aspirin's side effects.
The science behind Fruitflow has been validated by leading peer
review publications and regulatory authorities. Fruitflow is the
only natural antiplatelet to have a health claim approved by the
European Food Safety Authority, stating that 150mg of Fruitflow
'helps maintain normal platelet aggregation, which contributes to
healthy blood flow'.
Provexis entered into a long-term Alliance Agreement with DSM
Nutritional Products in 2010 to commercialise Fruitflow through
sales as an ingredient to brand owners in the food, beverage and
dietary supplement categories. More than 100 regional consumer
healthcare brands have now been launched by direct customers of
DSM, and a number of further regional brands have been launched
through DSM's distributor channels.
In June 2022 Provexis announced it had secured two new
agreements with DSM for Fruitflow, to replace the Alliance
Agreement: (i) a Transfer of Business agreement and (ii) a Premix
and Market-Ready Solutions supply agreement, both to take effect
from 1 January 2023.
DSM's existing and prospective pipeline customers for Fruitflow
as a straight ingredient have transferred to become direct
customers of Provexis WEF 1 January 2023, and Provexis took over
the outsourced supply chain / production process for Fruitflow at
that time. The customer transfer process from DSM to Provexis is
currently ongoing, and thus far it has seen a number of positive
interactions with customers for direct sales of Fruitflow by
Provexis in 2023 and beyond.
Fruitflow has a number of specific health benefits which have
been reflected in separate patent filings for the use of Fruitflow
in:
-- mitigating exercise-induced inflammation;
-- managing blood pressure;
-- protecting against the adverse effects of air pollution on
the body's cardiovascular system. Laboratory work has shown that
Fruitflow can reduce the platelet activation caused by airborne
particulate matter, such as that from diesel emissions, by
approximately one third; and
-- conferring health benefits in modulating the gut microbiome
of humans, to include a reduction in TMAO, following the completion
of a successful human study which is further detailed here
www.dsm.com/human-nutrition/en/talking-nutrition/press-releases/2023-01-20-new-study-reveals-dsms-fruitflow-activates-gut-heart.html
.
A new partnership was agreed with DSM in June 2022 relating to
the commercialisation of the gut microbiome patent, subject to
certain milestones which have been agreed between the parties.
In November 2021 Provexis entered into a long term supply and
distribution agreement for Fruitflow with By-Health Co., Ltd.
('By-Health'), a GBP5bn listed Chinese dietary supplement business,
to support the planned launch of some Fruitflow based products in
the Chinese market.
The planned launch is progressing well with potential sales
volumes remaining at a significant multiple of existing Fruitflow
sales.
By-Health has made a significant investment in eight separate
studies in China, at its sole expense, in support of the Fruitflow
based products which it plans to launch in China.
The five completed studies showed excellent results in use for
Fruitflow, and they provide strong evidence for its efficacy on
platelet functions. The Chinese regulatory system for functional
health food ingredients such as Fruitflow is governed by the State
Administration for Market Regulation (SAMR), China's top market
regulator, and it is based on a defined list of 27 permitted health
function claims which brand owners are permitted to use on product
labels.
By-Health is working on an extensive regulatory submission to
the SAMR for Fruitflow, seeking to establish a new permitted health
function claim for food ingredients such as Fruitflow that can
demonstrate an anti-platelet effect, addressing the aberrant blood
clots which can lead to heart attacks and strokes.
If By-Health is successful in obtaining a new permitted health
function claim it is currently expected that this would result in
some significant orders for Fruitflow, potentially at a multiple of
current total sales values.
Provexis sells a high quality dietary supplement product
containing Fruitflow and Omega-3 from its website
www.fruitflowplus.com on a mail order basis. The product is also
available to purchase from Amazon.co.uk and from Holland &
Barrett.
COVID-19
In September 2020 Fruitflow was recognised in a review article
by the Frontiers in Nutrition journal
www.frontiersin.org/articles/10.3389/fnut.2020.583080/full which
stated that nutraceuticals such as Fruitflow may serve as:
'A safe antiplatelet prophylactic treatment for those at high
risk of COVID-19 who may also be at increased risk of thrombotic
complications and an alternative to pharmacological compounds that
may cause greater risk of bleeding.'
Provexis was founded in 1999 and is headquartered in Reading,
Berkshire.
Provexis shares are traded on the AIM market of the London Stock
Exchange under the ticker symbol PXS.
For further information, please visit www.provexis.com and
www.fruitflowplus.com .
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END
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January 24, 2023 06:03 ET (11:03 GMT)
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