Increased interest in HeiQ Chrisal to 71%

HeiQ Plc (LSE: HEIQ), an established global brand in materials and textile innovation which operates in high-growth markets, is pleased to announce that it has increased its interest in HeiQ Chrisal from 51% to 71%.

On 3 March 2021, HeiQ announced the acquisition of 51% of the share capital and voting rights of Chrisal N.V., Belgium, now called HeiQ Chrisal, a biotechnology company and a leader in innovative ingredients and consumer products that incorporate the benefits of probiotics and synbiotics.

HeiQ will pay €2.9 million for the additional 20% shareholding to the vendors of Chrisal through the issue of 3,348,164 new ordinary shares in the Company, at a price of 0.751p per share, which represents the average 5 day closing price prior to exercise of the options by HeiQ Chrisal’s minority holders. This stake is valued on the same basis as the initial 51% interest acquired in HeiQ Chrisal in March 2021. The purchase follows the decision by four minority shareholders to exercise their option on December 2nd to sell their shares to HeiQ.

HeiQ Chrisal is the developer of HeiQ Synbio, one of four potential blockbuster technologies in HeiQ’s portfolio. HeiQ Synbio allows hospital detergents to become much more effective than the disinfectants used today. It significantly reduces surface pathogens and antimicrobial resistance which is particularly important in hospitals. In H1 2022, HeiQ achieved significant milestones on the way to establishing synbiotic detergents as a new standard in hospital cleaning. An independent study by the opinion leading Charité University Hospital Berlin, and the Robert Koch-Institute proved synbiotic cleaners far more effective than disinfectants alone. This positions the HeiQ Synbio platform ideally, given that upcoming European Union regulations are expected to favour synbiotic cleaners.

HeiQ co-founder and CEO Carlo Centonze said:

“This deal increases our exposure to the significant potential upside available from HeiQ Synbio. To have achieved this on the same valuation terms as our original transaction nearly two years ago is pleasing, particularly given that since then we have achieved a major milestones in establishing synbiotic detergents as a new standard in hospital cleaning.

HeiQ Chrisal continues to provide us with revenue from additional growth markets as well as multiple cross-selling opportunities for both Company’s core product range. With this in mind, we are pleased to strengthen our shareholding through this latest transaction.”

Issue of Equity and Total Voting Rights

The Company will issue 3,348,164 new ordinary shares (“Consideration Shares”) to the sellers at a price of £0.751 per share, which is the average 5 day closing price prior to option exercise in order to satisfy the consideration due. Applications have been made for the Consideration Shares to be admitted to the standard segment of the Official List, and to trading on the London Stock Exchange’s Main Market (“Admission”).

It is expected that Admission will become effective, and that dealings in the new Ordinary Shares are expected to commence, at 08.00 a.m. on 15 December 2022.

Following Admission, the total number of Ordinary Shares in issue will be 140,082,472 and the total number of voting rights will therefore be 140,082,472. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or

Below is an interview with HeiQ’s CEO & FD, who provide the highlights from the year end results, announced earlier in 2022

News in full