26th Sep 2024 14:02
ProBiotix Health PLC - Wakefield, England-based life sciences business developing probiotics to tackle cardiovascular disease and other lifestyle conditions - OptiBiotix Health PLC, a York-based life sciences peer and major shareholder of ProBiotix, says it will vote in favour of the resolutions put forward by fellow shareholder Seneca Partners. ProBiotix on Wednesday confirmed it had received a requisition notice from a nominee of 5.5% shareholder Seneca, calling for a general meeting to vote on proposals to remove two ProBiotix directors, including Chief Executive Officer Steen Andersen. ProBiotix said all of its directors, other than Stephen O'Hara, who also is chief executive of OptiBiotix, support keeping both directors in place.
ProBiotix and OptiBiotix have been at loggerheads throughout September over a GBP1.2 million equity raise by ProBiotix. All the new shares were sold to Danish investor Frederik Bruhn-Petersen, whose son now sits on the ProBiotix board and is the second director that Seneca wants removed. On Thursday, OptiBiotix said it holds 53.5 million ProBiotix shares, but questioned whether ProBiotix has 121.7 million or 158.2 million shares in total. The AQSE website gives the total as 158.2 million.
Current ProBiotix stock price on AQSE: 4.25 pence for GBP6.7 million market capitalisation
12-month change: down 31%
By Tom Waite, Alliance News editor
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