ProBiotix Health Plc

Management Reports • Nov 1, 2024

National Storage Mechanism | Additional information

RNS Number : 6423K

Probiotix Health PLC

01 November 2024

1 November 2024

ProBiotix Health plc

("ProBiotix" or the "Company" or, together with its subsidiary, the "Group")

Result of Requisitioned General Meeting - Resolutions Defeated

Result of Requisitioned General Meeting

ProBiotix Health plc (AQSE: PBX), the life sciences business developing probiotics to support cardiometabolic health, is pleased to announce that at the Requisitioned General Meeting held earlier today, all three resolutions were duly defeated.

The proxy votes cast at the meeting are summarised in the table below. 

Resolution	For		Against		Total votes cast as % of Issued Share Capital	Votes Withheld
Number of Votes	% of votes cast	Number of Votes	% of votes cast
1. To remove Steen Andersen as a Director of the Company.	18,869,846	29.74	44,536,597	70.20	40.09	37,977
2. To remove Frederik Bruhn-Petersen as a Director of the Company.	18,962,488	29.89	44,443,955	70.05	40.09	37,977
3. To remove any person appointed to the Board after the date of the notice*, as a Director of the Company. *being 24 September 2024, the date of the Requisition.	18,866,796	29.74	44,538,399	70.20	40.09	39,225

The 'against' votes include those giving discretion to the Chairman of the meeting.   A 'vote withheld' is not a vote in law and is not counted in the calculation of the votes 'for' or 'against' a resolution.

The Independent Directors are very grateful for the support received from Shareholders for their opposition to the Requisition.

Comment from the Independent Directors

The Independent Directors are angered by the false and inaccurate allegations made against the Company and certain of its Directors over the last few weeks.  Whilst the Company and the relevant individuals reserve their respective rights with respect to such allegations, the Independent Directors believe that the Company should now draw a line under this regrettable incident and re-focus efforts on the continued growth of ProBiotix under the leadership of Steen Andersen.

The Independent Directors have also been deeply disappointed by the requisitioning of this General Meeting, given the inevitable distraction it has caused at a crucial time for the Company and the costs incurred in dealing with the Requisition.

Adam Reynolds, Non-Executive Chairman of ProBiotix Health plc commented: "We are delighted that these unwelcome and unwarranted resolutions have been defeated. We now look forward to constructive engagement with all the Company's stakeholders, including Seneca, as we continue to build on the strong momentum within our business.

"I would like to place on record our thanks to our shareholders and Advisers, and to reiterate our support for both Steen Andersen as our Chief Executive and Frederik Bruhn-Petersen as our new Non-executive Director."

For further information, please contact:

ProBiotix Health plc	https://probiotixhealth-ir.com/
Steen Andersen, Chief Executive Officer	Contact via Walbrook below
Peterhouse Capital Limited (Aquis Corporate Adviser and Broker)
Mark Anwyl	Tel: 020 7220 9793
Walbrook PR Ltd	[email protected]
Anna Dunphy	Mob: 07876 741 001

Notes:

(i)            Words and expressions defined in the circular to Shareholders dated 15 October 2024 have the same meaning in this announcement.

(ii)           For the avoidance of doubt, references in this announcement to the "Independent Directors" are to the Directors of ProBiotix other than Stephen O'Hara, who is a Non-executive Director of the Company and is also Chief Executive of OptiBiotix. As such, he has a conflict of interest and has not been involved in the considerations of the Independent Directors.

This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

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