TIDMPXS
RNS Number : 1805L
Provexis PLC
07 January 2016
7 January 2016
Provexis plc
Directors' Share Purchases
Provexis plc ("Provexis" or the "Company"), the business that
develops and licenses the proprietary, scientifically-proven
Fruitflow(R) heart-health functional food ingredient, announces it
has received notification today that:
1. On 6 January 2016, Dawson Buck, the Executive Chairman of the
Company, purchased 2,093,567 ordinary shares of 0.1 pence each in
the Company ("Ordinary Shares") at an average price of 0.265 pence
per Ordinary Share.
Following the purchase, Mr Buck is interested in 15,000,000
Ordinary Shares which amounts to approximately 0.91 per cent. of
the current issued share capital of the Company.
2. On 7 January 2016, Ian Ford, the Finance Director of the
Company, purchased 2,798,168 Ordinary Shares at an average price of
0.286 pence per Ordinary Share.
Following the purchase, Mr Ford is interested in 5,000,000
Ordinary Shares which amounts to approximately 0.30 per cent. of
the current issued share capital of the Company.
ends-
For further information please contact:
Provexis plc Tel: 07490 391888
Dawson Buck, Chairman enquiries@provexis.com
Ian Ford, Finance Director
Cenkos Securities plc Tel: 020 7397 8900
Bobbie Hilliam
Notes for editors
About Provexis plc
AIM-listed Provexis is focused on the development and licensing
of its proprietary, scientifically-proven Fruitflow(R) heart-health
functional food ingredient.
In May 2009, the company's Fruitflow(R) technology was the first
to be substantiated by the European Food Safety Authority ("EFSA")
under the new Article 13(5) for proprietary and emerging science.
In December 2009 the European Commission authorised the health
claim "Helps maintain normal platelet aggregation, which
contributes to healthy blood flow", which was the first wording to
be authorised under Article 13(5).
In June 2010 it was announced that the company had entered into
a long-term Alliance Agreement with DSM Nutritional Products to
commercialise Fruitflow(R), and in June 2015 the Company confirmed
that it had agreed significantly enhanced financial terms for its
Alliance Agreement with DSM for Fruitflow(R).
The Company's Alliance partner DSM Nutritional Products has
developed the market actively for Fruitflow(R) in all global
markets, with over 45 regional consumer healthcare brands now
having been launched by DSM customers. DSM's total revenues for
Fruitflow(R) for the year ended 30 September 2015 grew strongly by
more than 33% year on year, reflecting strong interest in the
product and the success of the powder format, further sales growth
is expected to be reported in the quarter to December 2015.
An increasing number of further commercial projects have been
initiated by DSM with prospective customers, including some
prospective customers which are part of global businesses, with
good prospects for these projects to be launched as consumer
products. Interest in the technology exists in all major global
markets, and the total value of the prospective sales pipeline is
increasing.
The Company and DSM are keen to secure greater medical advocacy
for Fruitflow(R), particularly with reference to the US Food and
Drug Administration's guidance in May 2014 concerning the use of
low dose Aspirin which remains a strong opportunity for
Fruitflow(R). Fruitflow(R) has accordingly been promoted at some
major cardiovascular health events, including the European Society
of Cardiology's annual congress in London which was attended by
more than 30,000 healthcare professionals.
Marketing initiatives for Fruitflow(R) have also included DSM's
new product video which is available to view at
www.youtube.com/watch?v=vG2VuJrvtrI
The Company is engaged in a collaboration agreement with the
University of Oslo ('the University') to undertake further research
into the relationship between Fruitflow(R) and blood pressure
regulation. Recent work undertaken by the University has shown that
Fruitflow(R) has a potential new bioactivity leading to blood
pressure lowering effects, and the Company has signed a two stage
collaboration agreement with the University to undertake further
research into the relationship between Fruitflow(R) and blood
pressure regulation.
In June 2015 the Company announced that the first stage of the
collaboration work with the University of Oslo had been completed,
with some very encouraging key results: there is strong evidence
from the laboratory based work that a standard 150mg dose of
Fruitflow(R) has the potential to give a clinically relevant
reduction in systolic blood pressure. The Company and the
University are now proceeding with the second stage of the
collaboration work, which is seeing the parties conduct a small
clinical trial by way of a proof of principle study.
The Company is in the process of launching a high quality
dietary supplement product containing Fruitflow(R) and Omega-3
which will be sold initially from the Company's separate, dedicated
website www.fruitflowplus.com on a mail order basis. The new
Fruitflow(R) + Omega-3 dietary supplement product is expected to
provide the Company with an additional income and profit stream.
Fruitflow(R) and Omega-3 have separate, positive EFSA health claims
and the packaging for the product reflects these strongly.
The Company plans to launch the new dietary supplement product
as soon as possible; the fruitflowplus.com website will be able to
accommodate further potential Fruitflow(R) combination product
derivatives. The Company is keen to increase the brand awareness
and potential sales of its new dietary supplement product and
further sales channel opportunities are under review.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
RDSUGUBAGUPQGWM
(END) Dow Jones Newswires
January 07, 2016 09:01 ET (14:01 GMT)
Provexis (LSE:PXS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Provexis (LSE:PXS)
Historical Stock Chart
From Apr 2023 to Apr 2024