AI assistant
MEMPHASYS LIMITED. — Capital/Financing Update 2022
Jan 18, 2022
65314_rns_2022-01-18_8f9dc242-eb69-462c-85b6-8df51bc63e6f.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX Release 19 January 2022
==> picture [186 x 52] intentionally omitted <==
ASX Code: MEM
Sale of existing Convertible Note to Peters Investments Pty Ltd
Australian-based bio-separations and reproductive biotechnology company Memphasys Limited (ASX: MEM) (“Memphasys” or “the Company”) wishes to advise that a Convertible Note held by Non-Executive Director Mr Andrew Goodall, with a face value of $1.35m[1] , has been acquired by existing major shareholder and sophisticated investor, Peters Investments Pty Ltd.
Mr Goodall, a major shareholder and long-term Director and supporter of the Company undertook this sale to fund the purchase of a rural property in NSW, Australia.
The terms of the note remain unchanged, with Peters Investments Pty Ltd able to acquire the note without requiring shareholder approval as approval was previously sought for the future issue of shares on conversion under exception 9 of LR 7.2.
Should the note be converted, as per the terms, Peters Investments Pty Ltd would (based upon the current capital structure) have an interest in Memphasys of approx. 32%.
Memphasys is advancing the commercial roll-out of the Felix™ System - a novel automated device for quickly and gently separating high quality sperm from a semen sample for use in human IVF procedures – where it achieved commercial sales for both research and clinical IVF use in the previous quarter.
Advanced commercial discussions are continuing in markets with lower regulatory hurdles, where sales can occur now, such as Japan, India, Canada, New Zealand.
This announcement has been approved for release by the board of Memphasys Limited.
ENDS
For further information please contact:
Alison Coutts David Tasker Executive Chairman Managing Director Memphasys Limited Chapter One Advisors T: +61 2 8415 7300 T: +0433 112 936 E: [email protected] E: [email protected]
1 Refer ASX announcement dated 26 May 2021.
==> picture [186 x 52] intentionally omitted <==
About Memphasys:
Memphasys Limited (ASX: MEM) specialises in biological separations and reproductive biotechnology for high value commercial applications.
Reproductive biotechnology products in development include medical devices, in vitro diagnostics, and new proprietary media.
The Company’s patented bio-separation technology, utilised by the Company’s most advanced product, the Felix[TM] device, combines electrophoresis with proprietary size exclusion membranes to separate the most viable sperm cells for human artificial reproduction.
Website: www.memphasys.com