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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Collagen Solutions Plc | LSE:COS | London | Ordinary Share | GB00B94T6Y14 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 6.625 | 6.25 | 7.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMCOS
RNS Number : 4131V
Collagen Solutions PLC
03 December 2019
Collagen Solutions Plc
(the "Company" or the "Group")
Half Yearly Report
Interim Results for the six months ended 30 September 2019
Collagen Solutions plc (AIM: COS), the developer and manufacturer of biomaterials and regenerative medicines for the enhancement and extension of human life, announces its unaudited results for the six months ended 30 September 2019.
Operational Highlights
-- Revenue growth of 14.4%
-- Four new customer contracts secured (H1 2018: nine) and began supply to 10 new customers (H1 2018: 16) with increased average value of new customer contracts vs prior years
-- Core supply business growth of 56% driven by tissue sales, which more than doubled with 124% growth, and collagen, which grew at 13%
-- Development and contract manufacturing project work continues to increase with multiple ongoing projects, whilst revenue in this category declined 17% during the period this reflects timing of development contract milestones only
-- Delivered on key development projects with development and contract manufacturing revenue accounting for 42% of overall revenue in H1 2019 (H1 2018: 57%)
-- Initiated an infrastructure capacity expansion project at our Glasgow facility to support increased demand
-- Secured investigational medical product (IMP) licence from MHRA to support manufacturing for a development customer moving into phase 1 clinical trial scheduled for 2020
-- Made continued progress on the path to CE mark approval on ChondroMimetic(R) although the regulatory environment in Europe remains challenging and we remain cautious on timing for approval
Financial Highlights
-- Group revenue grew 14.4% to GBP2.23m (H1 2018 GBP1.95m)
-- Gross margin reduced to 71.2% (H1 2018: 73.0%) driven by business mix
-- LBITDA of GBP0.67m (H1 2018: GBP0.66m)
-- Pre-tax loss of GBP1.19m (H1 2018: GBP1.06m) with post tax losses of GBP0.98m (H1 2018: GBP1.05m)
-- Cash and cash equivalents of GBP5.01m (31 March 2019: GBP1.68m)
-- Fundraise: on 5 June 2019 the Company completed a fundraise of GBP5.96m gross of costs made up of a strategic investment by Rosen's Diversified Inc of GBP4.18m, a placing with existing and new investors of GBP1.25m and an open offer totalling GBP0.53m.
-- Norgine Ventures Bond repayments of GBP0.59m reducing overall debt to GBP1.94m (H1 2018: GBP2.48m)
-- Other income GBP0.09m (2018: GBP0.15m) reflecting timing of grant funding
-- Tax credits of GBP0.2m (H1 2018: Nil)
Jamal Rushdy, Chief Executive Officer of Collagen Solutions, commented: "As we previously announced, we are pleased to report the third consecutive six-month period of double-digit sales growth. We have shown particularly strong growth from our tissue business and also are continuing to bring on new customers and contracts from our global sales team. Our product development teams remain focused on development projects for customers, providing a solid platform for future contract manufacturing business. Finally, we are investing in our manufacturing capacity to ensure we can continue to support future growth and we look forward to a successful remainder of the year."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Collagen Solutions Plc Via Walbrook Chris Brinsmead, Chairman Jamal Rushdy, CEO / Hilary Spence, CFO Cenkos Securities Plc (Nominated Adviser and Broker) Giles Balleny Tel: 0207 397 8900 Stephen Keys Walbrook PR Ltd Tel: 020 7933 8780 or collagen@walbrookpr.com Anna Dunphy Mob: 07876 741 001
About Collagen Solutions:
Collagen Solutions Plc is a global supplier, developer, and manufacturer of medical grade collagen, tissues, and related medical devices and components for use in regenerative medicine, tissue engineering, and research. The Company is also expanding its range of biomaterials-based finished medical devices based on its internal and acquired intellectual property for commercialisation with partners via licensing and distribution arrangements, including ChondroMimetic(R). The Company's products are used in a wide variety of applications including orthopaedics, cardiovascular, dental, plastic surgery, wound healing, neurology and urology.
For more information go to: www.collagensolutions.com
CHAIRMAN'S STATEMENT
Business
I am pleased to present Collagen Solutions' interim results for the six-month period ended 30 September 2019. During the period we saw the Group continue its revenue growth as we both diversify our customer base and grow with our core customers. The period saw us focused on upgrading our production capabilities, strengthening our technical excellence and organising the Company around meeting the growing demand for biomaterials product supply, development and contract manufacturing.
Overview
During the six-month period, H1 revenue grew 14.4% on the same period in the prior year, showing continued global demand for our products. Growth was limited by capacity constraints within our collagen manufacturing operation and the timing of delivery of development contract milestones. During the period the Company has made additional investments in people, capabilities and technology that will allow us to build for the future.
The continued organic growth in revenue has not been fully reflected at the earnings level as these investments have impacted our profitability for the first half but we anticipate will provide momentum for the second half and help us meet market expectations.
Where we see growing demand for our products and as we seek to increase our manufacturing capabilities and capacity, delivery of key customer projects and implementation of manufacturing capabilities will be key to deliver the year end outcome.
The Group's results for the six months ended 30 September 2019 are set out in the Consolidated Statement of Comprehensive Income. More detailed commentary is included within the CEO's statement.
Fundraise and use of Funds
On 5 June 2019, we completed a fundraise of GBP5.96m led by a strategic investor, Rosen's Diversified Inc. Funds raised were to further our customer product development projects as well as ChondroMimetic(R), expand contract manufacturing activities and capabilities, and for working capital including the repayment of the Norgine Ventures Bond Facility.
In line with the proposed use of funds in the first half we have continued investment in ChondroMimetic(R), invested in development of our customers' own proprietary products, increased production capabilities within the Glasgow facility and repaid GBP0.59m of debt.
While the first half saw increased investment in resources, the second half will see delivery of additional technical capacity and space to meet the demand anticipated in financial year 2020/21 from existing and new collagen supply customers, and to fulfil contract manufacturing contracts as they are realised and grow.
Proprietary Products / ChondroMimetic (R)
We have reviewed our R&D projects and business environment, and refocused research and development resources from developing additional proprietary products, other than ChondroMimetic(R), to investment in products developed on behalf of our customers. This shift in approach, while de-risking the business, makes the path to accessing the Scottish Enterprise large R&D grant award announced on 7 January 2019 slightly different to that originally anticipated. We are working with Scottish Enterprise to unlock funds but no income has been recognised in the first half of the year. We also continue to believe our ChondroMimetic(R) implant for the repair of cartilage defects represents significant untapped value for the Company, and are diligently pursuing the approval process cognisant of the regulatory challenges in Europe and resulting uncertainty in timing.
Board and Management
As part of the fundraise above, we welcomed Wade Rosen to the Board. As anticipated, Wade's commercial experience is bringing a welcome new dimension to Board conversations and as the Company is preparing for its next stage of growth. On 13 November 2019 we announced a restructuring of the Board to a slimmer, more efficient profile, reducing the size from eight members to six. This restructuring will enable the executive team to focus on delivery of key initiatives, whilst ensuring effective and efficient governance and Board support.
Outlook
The underlying trend in the business remains positive. Financially, investment in capabilities in the first half means that top line growth has not translated to bottom line performance in the first half. With the creation of additional manufacturing capacity and delivery of development contract milestones in the back half, we remain on track to deliver against our key objectives this year: Financial Performance, ChondroMimetic(R), Core Business Growth, Infrastructure and Product Portfolio, and delivering market results.
Chris Brinsmead CBE
Chairman
2 December 2019
CHIEF EXECUTIVE OFFICER'S STATEMENT
I am pleased to report continued progress in the first six months of our financial year, representing the third consecutive six month period of organic double-digit sales growth and progress against all of our key initiatives for the year.
Revenue and Commercial Progress
Revenue for the first six months was GBP2.23 million, representing 14% growth over the prior year. Our core collagen and tissue supply business grew by 56%, led by 124% growth of our tissue business reflecting increased demand from our customers as well as early sales from new customers following our strategy to expand our offering of tissue sources and products. Our tissue business continues to perform well and whilst the customer acquisition process is a lengthy one, in-roads to new customers in new geographies is encouraging. Our core collagen supply grew 13% as well notwithstanding interim capacity constraints. We continued to make significant progress in our development and contract manufacturing projects although overall revenue in this category declined 17% reflecting timing of development contract milestone deliveries, and is expected to reverse in the back half.
Revenue from North America grew 8% in the half to GBP1.58 million, driven both by existing customer demand increases and new customers offset by certain product development milestone timing. Asia Pacific revenue grew 155% to GBP0.46 million both due to increased existing customer demand and new business in China. The EMEA region declined by 38% to GBP0.19 million, driven mostly by existing customer project timing. Overall new customer growth remained strong as we added four new customer contracts and began supply to 10 new customers.
Product Development and Innovation
Our product development team and resources have been largely focused on delivering customer development projects as well as being key partners to our commercial team to help bring on new customers. Not only do these customer development projects provide near-term revenue, but also provide a valuable platform of future sustainable revenue as these projects mature from development to contract manufacturing over time supporting our strategy to move up the value chain.
We are also continuing to focus on gaining CE Mark approval for ChondroMimetic(R). We are in the process of answering questions from our Notified Body, inclusive of providing additional non-clinical test data where necessary. The current regulatory environment in Europe remains challenging as the impending implementation of the new EU Medical Device Regulation (MDR) have impacted the capacity of all Notified Bodies and therefore we remain cautious on timing for approval, while being diligent in our own efforts to respond quickly and completely to our Notified Body's questions.
Operations and Financial Results
The Group's financial results for the six months ended 30 September 2019 are set out in the Consolidated Statement of Comprehensive Income. Our financial KPIs are as follows:
Hot Features
Premium
Six months
to 30 September Change from
Measure 2019 Prior Year
Revenue GBP2.23m +14.4%
----------------- ------------
Gross margin GBP1.59m +11.6%
----------------- ------------
Gross margin % 71.2% -1.8%
----------------- ------------
EBITDA (GBP0.67m) -0.5%
----------------- ------------
Diluted loss per
share (0.25p) +22%
----------------- ------------
Cash and cash
equivalents GBP5.01m +96%
----------------- ------------
Operationally, we have commenced our planned projects to deliver increased capacity in collagen supply and contract manufacturing through investment in capital equipment and the creation of additional space in our Glasgow manufacturing facility. These plans are in line with our aims at the time of the fundraise of increasing manufacturing capabilities and capacity. We believe that expansion at the existing plant provides the best opportunity for a return on investment for our shareholders.
With the mix in the first half leaning towards our tissue business, margins were slightly lower than the previous year but remain strong. In addition, investment in additional resources in the first half of the year to build the capabilities required to service the future business and the timing of development revenue milestones have impacted our profitability in the first half of the year. We believe the continued performance of the tissue business, investment in additional capabilities and capacity in the collagen business, and delivery of development milestones in the second half will allow us to deliver against market expectations.
Jamal Rushdy
Chief Executive Officer
2 December 2019
Collagen Solutions Plc
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 30 September 2019
Unaudited Unaudited
six months six months Audited
ended 30 ended 30 year ended
September September 31 March
2019 2018 2019
Notes GBP GBP GBP
REVENUE 2,229,423 1,948,319 4,150,736
Cost of sales (641,817) (525,812) (1,111,399)
------------ ------------ ------------
Gross profit 1,587,606 1,422,507 3,039,337
Share-based compensation (33,000) (42,300) (85,900)
Administrative expenses (excluding
separately identifiable items) (1,746,736) (1,699,885) (3,499,544)
Separately identifiable items 4 - - 248,775
------------ ------------ ------------
Total administrative expenses (1,746,736) (1,699,885) (3,250,769)
Total Selling and Marketing costs (562,313) (491,324) (1,024,868)
Other income 87,742 147,336 354,445
LOSS BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (666,701) (663,666) (967,755)
Amortisation and depreciation (352,086) (238,981) (562,355)
Finance income 7,208 9,468 15,254
Finance expense (174,840) (167,481) (332,213)
LOSS BEFORE TAXATION (1,186,419) (1,060,660) (1,847,069)
Taxation 208,579 12,917 180,800
------------ ------------ ------------
LOSS FOR THE PERIOD (977,840) (1,047,743) (1,666,269)
Attributable to:
Owners of the parent (977,840) (1,047,743) (1,666,269)
(977,840) (1,047,743) (1,666,269)
------------ ------------ ------------
Currency translation difference 220,256 107,922 129,488
------------ ------------ ------------
Other comprehensive income 220,256 107,922 129,488
------------ ------------ ------------
TOTAL COMPREHENSIVE (LOSS)/GAIN FOR
THE PERIOD (757,584) (939,821) (1,536,781)
============ ============ ============
Attributable to:
Owners of the parent (757,584) (939,821) (1,536,781)
(757,584) (939,821) (1,536,781)
------------ ------------ ------------
Basic and diluted loss per share -
pence attributed to owners of the
parent 3 (0.24p) (0.32p) (0.51p)
Collagen Solutions Plc
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 September 2019
Unaudited Unaudited
30 September 30 September Audited 31
2019 2018 March 2019
Notes GBP GBP GBP
ASSETS
Non-current assets
Intangible assets 15,369,550 14,731,836 14,944,687
Property, plant and equipment 1,491,547 1,120,527 1,101,959
--------------- -------------- ------------
16,861,097 15,852,363 16,046,646
--------------- -------------- ------------
Current assets
Inventories 505,567 477,039 338,068
Trade and other receivables 1,596,582 760,877 1,137,758
Cash and cash equivalents 5,011,027 2,556,502 1,678,079
--------------- -------------- ------------
7,113,176 3,794,418 3,153,905
--------------- -------------- ------------
Total assets 23,974,273 19,646,781 19,200,551
--------------- -------------- ------------
EQUITY AND LIABILITIES
Equity attributable to equity
holders of the parent company
Share capital 5 4,481,830 3,290,166 3,290,166
Share premium 19,353,782 14,869,909 14,869,909
Share-based payment reserve 324,720 248,120 291,720
Shares to be issued reserve 106,581 106,581 106,581
Merger reserve 4,531,798 4,531,798 4,531,798
Translation reserve 1,025,643 783,821 805,387
Retained deficit (9,442,071) (7,845,705) (8,464,231)
--------------- -------------- ------------
Total equity 20,382,283 15,984,690 15,431,330
--------------- -------------- ------------
Non-current liabilities
Deferred tax 147,231 177,569 162,094
Provision for other liabilities
and charge 99,984 132,696 121,744
Borrowings 282,415 1,329,481 1,294,079
--------------- -------------- ------------
529,630 1,639,746 1,577,917
--------------- -------------- ------------
Current liabilities
Trade and other payables 1,368,760 761,783 938,556
Provision for other liabilities
and charges 37,601 105,551 38,538
Borrowings 1,655,999 1,155,011 1,214,210
--------------- -------------- ------------
3,062,360 2,022,345 2,191,304
--------------- -------------- ------------
Total liabilities 3,591,990 3,662,091 3,769,221
--------------- -------------- ------------
Total liabilities and equity 23,974,273 19,646,781 19,200,551
--------------- -------------- ------------
Collagen Solutions Plc
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six months ended 30 September 2019
Shares
Share Share-Based to be
Share Premium Payment issued Merger Translation Retained
Capital Account Reserve Reserve Reserve Reserve Deficit Total
---------- ----------- ------------ -------- ---------- ------------ ------------ ------------
GBP GBP GBP GBP GBP GBP GBP GBP
As at 1 April
2018 3,290,166 14,869,909 205,820 106,581 4,531,798 675,899 (6,797,962) 16,882,211
Share-based
compensation - - 42,300 - - - - 42,300
Loss for the
period - - - - - - (1,047,743) (1,047,743)
Currency
translation
difference - - - - - 107,922 - 107,922
---------- ----------- ------------ -------- ---------- ------------ ------------ ------------
Loss and total
comprehensive
loss for the
period - - - - - 107,922 (1,047,743) (939,821)
At 30
September
2018 3,290,166 14,869,909 248,120 106,581 4,531,798 783,821 (7,845,705) 15,984,690
---------- ----------- ------------ -------- ---------- ------------ ------------ ------------
Share-based
compensation - - 43,600 - - - - 43,600
Loss for the
period - - - - - - (618,526) (618,526)
Currency
translation
difference - - - - - 21,566 - 21,566
---------- ----------- ------------ -------- ---------- ------------ ------------ ------------
Loss and total
comprehensive
loss for the
period - - - - - 21,566 (618,526) (596,960)
At 31 March
2019 3,290,166 14,869,909 291,720 106,581 4,531,798 805,387 (8,464,231) 15,431,330
---------- ----------- ------------ -------- ---------- ------------ ------------ ------------
Issue of
shares 1,191,664 4,766,657 - - - - - 5,958,321
Share issue
costs - (282,784) - - - - - (282,784)
---------- ----------- ------------ -------- ---------- ------------ ------------ ------------
Proceeds from
share issue 1,191,664 4,483,873 - - - - - 5,675,537
Share-based
compensation - - 33,000 - - - - 33,000
Loss for the
period - - - - - - (977,840) (977,840)
Currency
translation
difference - - - - - 220,256 - 220,256
---------- ----------- ------------ -------- ---------- ------------ ------------ ------------
Loss and total
comprehensive
loss for the
period - - - - - 220,256 (977,840) (757,584)
At 30
September
2019 4,481,830 19,353,782 324,720 106,581 4,531,798 1,025,643 (9,442,071) 20,382,283
========== =========== ============ ======== ========== ============ ============ ============
Collagen Solutions Plc
CONSOLIDATED STATEMENT OF CASH FLOWS POSITION
As at 30 September 2019
Unaudited Unaudited
six months six months Audited
ended 30 ended 30 year ended
September September 31 March
2019 2018 2019
GBP GBP GBP
CASH FLOW FROM OPERATING ACTIVITIES
Loss before taxation (1,186,419) (1,060,660) (1,847,069)
Share based compensation 33,000 42,300 85,900
Depreciation 234,368 135,505 334,461
Amortisation 117,718 103,476 227,894
Increase / (decrease) in contingent consideration - - 4,744
Other income - (145,944) -
Finance expense 173,840 167,481 332,213
Finance income (7,208) (9,468) (15,254)
Gain on sale of property, plant and equipment - - (67,591)
Gain on sale of investment - - (214,965)
Increase in inventories (136,846) (150,135) (12,418)
(Increase) / decrease in trade and other
receivables (317,310) 273,297 53,442
(Decrease) / increase in trade and other
payables (98,070) 109,750 112,635
Decrease in provisions (55,148) (132,241) (202,736)
CASH USED IN OPERATIONS (1,242,075) (666,639) (1,208,744)
Interest paid (151,789) (143,684) (273,327)
Taxation received 152,737 53,586 53,245
Net cash used in operations (1,241,127) (756,737) (1,428,826)
INVESTING ACTIVITIES
Proceeds from sale of investment - - 214,965
Proceeds from sale of property, plant
and equipment - - 67,591
Payments to acquire property, plant and
equipment (91,468) (280,010) (454,215)
Payments to acquire licensed IP, patents
and intangibles (307,210) (413,471) (740,045)
Deferred development costs (124,363) - -
Interest received 7,208 9,468 15,254
Settlement of deferred and contingent
consideration - (562,207) (566,951)
Net cash used in investing activities (515,833) (1,246,220) (1,463,401)
FINANCING ACTIVITIES
Repayment of related party loan - (43,022) (43,022)
Net proceeds on issue of ordinary shares 5,675,537 - -
Repayment of Bonds (591,927) (420,319) (420,325)
------------ ------------ ------------
NET CASH (USED IN) / GENERATED FROM FINANCING
ACTIVITIES 5,083,610 (463,341) (463,347)
------------ ------------ ------------
Net decrease in cash and cash equivalents 3,326,650 (2,466,298) (3,355,574)
Effect of foreign exchange rates on the
balance of cash held in foreign currencies 6,298 486 11,339
------------ ------------ ------------
Net decrease in cash and cash equivalents 3,332,948 (2,465,812) (3,344,235)
Cash and cash equivalents at the beginning
of the financial period 1,678,079 5,022,314 5,022,314
------------ ------------ ------------
Cash and cash equivalents at the end of
the financial period 5,011,027 2,556,502 1,678,079
------------ ------------ ------------
Collagen Solutions Plc
NOTES TO THE INTERIM FINANCIAL STATEMENTS
1. BASIS OF PREPARATION
The unaudited interim statement results for the six-month period ending 30 September 2019 were approved by the Board of Directors on 2 December 2019. The financial information contained in the interim report does not constitute statutory accounts within the meaning of section 434 (3) of the Companies Act 2006. The financial information for the full preceding year is based on the statutory accounts for the year ended 31 March 2019, upon which the auditors issued an unqualified opinion and did not contain any statement under section 498(2) or 498(3) of the Companies Act 2006. The audited statutory accounts for the period ended 31 March 2019 have been lodged with the Registrar of Companies.
While the financial information included in this interim report has been prepared in accordance with the recognition and measurement criteria of International Financial Reporting Standards, as adopted by the European Union (EU) (IFRS), this announcement does not in itself contain sufficient information to comply with IFRS.
The Group has adopted IFRS 16 Leases with effect from 1 April 2019. This standard requires lessees to account for all leases under a single on balance sheet model. Management do not consider the impact of the adoption to be material.
The Company is a limited liability company incorporated and domiciled in England & Wales and whose shares are quoted on AIM, a market operated by The London Stock Exchange. The consolidated financial information of Collagen Solutions plc is presented in pounds sterling (GBP), which is also the functional currency of the Group.
2. SEGMENTAL REPORTING
Revenue information by geographical location:
Unaudited Unaudited Audited year
six months six months ended
ended 30 September ended 30 September 31 March
2019 2018 2019
-------------------- -------------------- -------------
GBP GBP GBP
Europe, Middle
East & Africa 194,035 314,892 589,111
North America 1,577,022 1,453,694 2,630,157
Asia 458,366 179,733 931,468
-------------------- -------------------- -------------
2,229,423 1,948,319 4,150,736
-------------------- -------------------- -------------
Revenue information by business segment:
Unaudited Unaudited Audited year
six months six months ended
ended 30 September ended 30 September 31 March
2019 2018 2019
-------------------- -------------------- -------------
GBP GBP GBP
Supply 1,301,263 833,684 2,532,261
Development and
contract manufacturing 928,160 1,114,635 1,390,049
Licensing - - 228,426
-------------------- -------------------- -------------
2,229,423 1,948,319 4,150,736
-------------------- -------------------- -------------
3. LOSS PER SHARE
The calculation of basic loss per ordinary share for the six months ended 30 September 2019 is based on losses of GBP977,840 (2018: GBP1,047,743) and on 399,934,210 (2018: 324,516,552) ordinary shares being the weighted average number of shares in issue during the 6-month period. The calculation of basic loss per ordinary share for the period ended 31 March 2019 is based on losses of GBP1,666,269 and on 324,516,552 ordinary shares being the weighted average number of shares in issue during the period.
The loss for the period and the weighted average number of ordinary shares for calculating the diluted loss per share for the six months ended 30 September 2019, the six months ended 30 September 2018 and the year ended 31 March 2019 are identical to those for the basic loss per share. This is because the outstanding share options would have the effect of reducing the loss per share and would therefore not be dilutive under the terms of International Accounting Standard ("IAS") No 33.
4. SEPARATELY IDENTIFIABLE ITEMS
Separately identifiable items in the year ended 31 March 2019 of GBP248,775 within administration expenses relates to the gain on sale of Jellagen Pty Limited investment of GBP214,965 and gains on the restructuring of New Zealand manufacturing operations of GBP33,810. The restructuring gains are made up of a gain on sale of assets previously written off totaling GBP67,591 and provision release of GBP9,219, offset by increased costs of transfer of processes GBP43,000.
5. SHARE CAPITAL
The following table details the warrants and share options granted over ordinary shares of the Company at 30 September 2019.
Grant Date Number Warrant/option Date from which Expiry Date
Price (pence) exercisable
24 November 23 November
2014 1,000,000 7.75 1 January 2017 2024
----------- --------------- ----------------- --------------
1 April 2015 500,000 9.625 1 April 2018 31 March 2025
----------- --------------- ----------------- --------------
15 December 14 December
2015 3,300,000 8.888 15 December 2018 2025
----------- --------------- ----------------- --------------
14 July 2016 2,700,000 8.125 14 July 2016 13 July 2026
----------- --------------- ----------------- --------------
15 February 14 February
2017 500,000 5.63 26 October 2019 2027
----------- --------------- ----------------- --------------
7 March 2017 500,000 5.75 7 March 2020 6 March 2027
----------- --------------- ----------------- --------------
31 March 2017 5,075,283 5.911 31 March 2017 30 March 2027
----------- --------------- ----------------- --------------
12 July 2017 3,900,000 5.25 12 July 2020 11 July 2027
----------- --------------- ----------------- --------------
23 January
2018 388,349 7.88 23 January 2018 30 July 2020
----------- --------------- ----------------- --------------
5 March 2018 200,000 3.63 15 November 2017 4 March 2028
----------- --------------- ----------------- --------------
20 March 2018 100,000 3.63 20 March 2018 19 March 2021
----------- --------------- ----------------- --------------
5 April 2018 666,666 2.70 3 January 2019 4 April 2028
----------- --------------- ----------------- --------------
5 April 2018 666,667 2.70 3 January 2020 4 April 2028
----------- --------------- ----------------- --------------
5 April 2018 666,667 2.70 3 January 2021 4 April 2028
----------- --------------- ----------------- --------------
3 May 2018 666,666 3.65 16 April 2019 2 May 2028
----------- --------------- ----------------- --------------
3 May 2018 666,667 3.65 16 April 2020 2 May 2028
----------- --------------- ----------------- --------------
3 May 2018 666,667 3.65 16 April 2021 2 May 2028
----------- --------------- ----------------- --------------
19 September 19 September 18 September
2018 1,500,000 3.70 2021 2028
----------- --------------- ----------------- --------------
19 September 19 September 18 September
2018 50,000 3.70 2018 2028
----------- --------------- ----------------- --------------
16 January 15 January
2019 333,333 3.85 3 January 2020 2029
----------- --------------- ----------------- --------------
16 January 15 January
2019 333,333 3.85 3 January 2021 2029
----------- --------------- ----------------- --------------
16 January 15 January
2019 333,334 3.85 3 January 2022 2029
----------- --------------- ----------------- --------------
10 July 2019 1,000,000 3.85 10 July 2019 9 July 2029
----------- --------------- ----------------- --------------
10 July 2019 1,000,000 3.85 10 July 2020 9 July 2029
----------- --------------- ----------------- --------------
10 July 2019 1,000,000 3.85 10 July 2021 9 July 2029
----------- --------------- ----------------- --------------
8 August 2019 675,000 3.90 8 August 2020 7 August 2029
----------- --------------- ----------------- --------------
8 August 2019 675,000 3.90 8 August 2021 7 August 2029
----------- --------------- ----------------- --------------
8 August 2019 675,000 3.90 8 August 2022 7 August 2029
----------- --------------- ----------------- --------------
Total 29,738,632
----------- --------------- ----------------- --------------
6. INTERIM RESULTS
These results were approved by the Board of Directors on 2 December 2019. Copies of the interim report are available to the public from the Group's website, www.collagensolutions.com. If you would like to receive a hard copy of the interim report, please contact the Collagen Solutions Plc offices on +44 (0)141 648 9100.
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.
END
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(END) Dow Jones Newswires
December 03, 2019 02:00 ET (07:00 GMT)
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