Issue of Equity
25 March 2022
Performance related deferred consideration to be satisfied in full
MyHealthChecked Plc (AIM: MHC), the consumer home-testing healthcare company, announces that a deferred consideration of £0.24m, payable in shares, has been made in relation to the acquisition of The Genome Store Ltd ("The Genome Store"), after all performance milestones were met.
The Genome Store, a provider of home-administered postal genomic test services, was acquired by MyHealthChecked in November 2020, and the deferred consideration was conditional upon the achievement of revenue targets along with other operational criteria including new product development targets.
The deferred consideration will be satisfied by the issue of 24 million new ordinary shares of 0.1p each ("New Ordinary Shares") in the capital of the Company at an issue price of 1p per share.
Admission of the New Ordinary Shares to trading on AIM and Total Voting Rights
The New Ordinary Shares have been allotted and application will be made for their admission to trading ("Admission") on the AIM Market of the London Stock Exchange. Admission is expected to take place on or around 30 March 2022.
The New Ordinary Shares will, when issued, be credited as fully paid and will rank equally in all respects with the existing Ordinary Shares, including the right to receive any dividend or other distribution declared, made or paid after Admission.
For the purposes of the Financial Conduct Authority's Disclosure and Transparency Rules ("DTRs"), the issued ordinary share capital of the Company following Admission will consist of 780,088,967 Ordinary Shares with voting rights attached (one vote per Ordinary Share). There are no Ordinary Shares held in treasury. This total voting rights figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interests in, or a change to their interest in, the Company under the DTRs.
Penny McCormick, Chief Executive Officer of MyHealthChecked Plc, said: "We are delighted with the strong performance that we've seen from The Genome Store business since becoming part of MyHealthChecked at the end of 2020. The acquisition was a natural fit and it gave us the expertise to meet the opportunities that the COVID testing market provided. From this we have established a trusted reputation with customers and built strong commercial relationships with the UK's top pharmacy retailers. We now look forward to further progressing an exciting pipeline of wider testing services for which we will commence commercialisation this Spring."
For further information contact:
Penny McCormick, Chief Executive Officer
via Walbrook PR
SPARK Advisory Partners Limited (NOMAD)
Tel: +44 (0)20 3368 3550
Oberon Capital Ltd (Broker)
Tel: +44 (0)203 179 5344
Walbrook PR Ltd (Media & IR)
Tel: +44 (0)20 7933 8780 or [email protected]
Mob: +44(0)7980 541 893
About MyHealthChecked PLC (www.myhealthcheckedplc.com)
MyHealthChecked PLC, based in Cardiff, is an AIM-quoted pioneering UK healthcare company focused on a range of at-home healthcare and wellness tests.
MyHealthChecked is the umbrella brand of a range of at-home DNA and RNA tests, now in development following the acquisition of The Genome Store in November 2020. The tests will be made available online, and would be viable for over the counter purchase.
The MyHealthChecked portfolio has been identified as part of a change in mindset as customers become more familiar with the concept of accessible healthcare in the growing at home testing kit market with a focus on accessibility at the right price, led by UK-based experts.