Provexis PLC Result of AGM (3985R)

TIDMPXS

RNS Number : 3985R

Provexis PLC

04 November 2021

4 November 2021

Provexis plc

("Provexis" or the "Company")

Result of AGM

Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow(R) heart-health functional food ingredient, announces that at the Company's Annual General Meeting, held earlier today, all resolutions were duly passed. The proxy votes received from shareholders on each resolution are set out below.

 
 Resolutions      Votes for        %   Votes against       %   Votes total   Votes withheld 
                          *                                             **              *** 
 Resolution 
  1             334,531,931   99.77%         787,139   0.23%   335,319,070          367,699 
 Resolution 
  2             334,606,117   99.77%         787,139   0.23%   335,393,256          293,513 
 Resolution 
  3             334,548,859   99.75%         844,397   0.25%   335,393,256          293,513 
 Resolution 
  4             334,574,472   99.76%         818,784   0.24%   335,393,256          293,513 
 Resolution 
  5             333,811,749   99.59%       1,388,609   0.41%   335,200,358          486,411 
 Resolution 
  6             333,648,626   99.54%       1,551,732   0.46%   335,200,358          486,411 
 Resolution 
  7             334,120,145   99.62%       1,287,139   0.38%   335,407,284          279,485 
 
 
 *     Includes discretionary votes 
 **    Total votes cast do not include withheld votes 
 ***   A vote withheld is not a vote in law and is not counted 
        in the calculation of the proportion of votes 'For' or 
        'Against' any of the resolutions 
 

For further information please contact:

 
 Provexis plc                  Tel: [phone] 
  Dawson Buck, Chairman         [e-mail] 
  Ian Ford, CEO 
 Allenby Capital Limited       Tel: [phone] 
  Nick Naylor / Liz Kirchner 
 

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 plc 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 90 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.

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; and 

-- 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.

Provexis sells a high quality dietary supplement product containing Fruitflow and Omega-3 from its separate website www.fruitflowplus.com on a mail order basis. The product is also available to purchase from Amazon.co.uk and from Holland & Barrett.

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.

By-Health currently expects to be in a position to complete the last of its eight studies in 2022, and it will file its regulatory submission to the SAMR for Fruitflow at the appropriate time. 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.

COVID-19

The Company and DSM have experienced increased consumer interest for Fruitflow in recent months, in light of the COVID-19 pandemic, as consumers look to nutritional interventions to help them fortify the circulatory system against the effects of COVID-19. The Company and DSM will look to maximise the commercial opportunities arising from this increased consumer interest in Fruitflow, and will further promote the core blood circulatory and anti-inflammatory benefits of the product.

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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November 04, 2021 09:29 ET (13:29 GMT)