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MEMPHASYS LIMITED. — Capital/Financing Update 2014
Jun 18, 2014
65314_rns_2014-06-18_933b794e-1895-4ca0-ad48-fda7636186af.pdf
Capital/Financing Update
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ASX Release
First Completion of Investment Transaction for PrIME Biologics Private Limited
Sydney, Australia Thursday 19 June 14
First Completion of Investment Transaction for PrIME Biologics, with first tranche funding of SGD$6.55 million
NuSep Holdings Ltd (ASX:NSP) (“NuSep Holdings”) is pleased to announce that “First Completion” of the investment transaction for PrIME Biologics Private Limited (“PrIME Biologics”) has occurred. The first tranche of SGD$6.55 million funding has now been received by PrIME Biologics. Key terms of the Investment Agreement were announced to the market on 9 May 2014.
Malaysian entity, Xeraya Capital Labuan Ltd (“Xeraya Capital”) via its affiliate, Pulau Manukan Ventures Labuan Ltd and JP Asia Prime Capital Pte Ltd based in Singapore are the primary investors.
The funding will be used by PrIME Biologics to continue to develop its proprietary technology to separate valuable proteins including albumin and IVIG from human blood plasma in its Singapore cGMP facility.
In addition the funding will be used to repay loans made over time by NuSep Holdings to PrIME Biologics. NuSep Holdings will use some of these funds to repay monies owing by it as well as to assist in the development of other applications from the core technology such as SpermSep and also to expand and develop further capabilities around membrane technologies for biological separations.
Update on Guarantee by Non-Executive Director, Andrew Goodall, for repayment of debt on Singapore plasma processing facility
As advised on 5 June 2014, final documentation clarifying the terms and conditions of Mr Goodall’s guarantee to repay the debt on the cGMP facility in Singapore was expected to be completed within a week of the announcement but it has been delayed due to First Completion of the PrIME Biologics investment transaction. NuSep expects to complete the documentation and advise the market shortly.
For further information please contact:
Alison Coutts Executive Chairman +61 2 8415 7300 [email protected]
NuSep Holdings Ltd 30 Richmond Rd Homebush NSW 2140
Contact Details Telephone +61 2 8415 7300 Facsimile +61 2 8415 7399
Email [email protected] Web www.nusep.com ABN 33 120 047 556
Postal Address P.O. Box 2202 Homebush West NSW 2140