Source - LSE Regulatory
RNS Number : 0163W
BSF Enterprise PLC
12 April 2023

BSF Enterprise PLC

("BSF" or the "Company")


Update to Announcement dated 29 March 2023 - Oversubscribed £2.9 million fundraise


As previously announced on 29 March 2023 (the "Fundraising Announcement"), the Company has raised £2.9 million by way of an oversubscribed placing (the "Placing") of 16,317,648 new ordinary shares in the capital of the Company ("Placing Shares") at a price of 17p per share (the "Placing Price") and additionally, the subscription of 882,352 new ordinary shares ("Subscription Shares") by investors procured directly by the Company ("Subscribers") also at the Placing Price (the "Subscription").   


By way of further update, the Company has entered into deeds of variation with each of the subscribers in respect of the Subscription Shares pursuant to which 264,739 of the Subscription Shares ("Second Tranche Shares") will be allotted and issued conditional on (i) the Company convening a general meeting and obtaining approval from shareholders to disapply statutory pre-emption rights ("Resolutions") and (ii) the publication of a prospectus,  as soon as reasonably practicable following Admission.  The Second Tranche Shares and the Fundraising Warrants (as defined in the Fundraising Announcement) shall be allotted and issued conditional on the passing of the Resolutions and the publication of a prospectus.


The Company confirms that application will be made to the Financial Conduct Authority and the London Stock Exchange for a total of 16,985,261 Ordinary shares of £0.01 each (being the aggregate of the Placing Shares, the Subscription Shares less the Second Tranche Shares and 50,000 ordinary shares issued on 9 February 2023  following the exercise of warrants)  (the "Shares") to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange ("Admission").   The Shares rank pari passu with the existing ordinary shares. Admission of the Shares is expected take place on 14 April 2023.   


Total Voting Rights


The Fundraising Announcement had stated that the Company's issued share capital following Admission will be 86,036,937 however the correct number is 102,972,198.   


The full amended paragraph is set out below.


Application will be made for admission of the Shares to trading on the Main Market. It is expected that Admission will be on or around 14 April 2023. The Placing Shares and the Subscription Shares will rank pari passu in all respects with the Company's existing ordinary shares. Following Admission, the total number of ordinary shares in the Company in issue will be 102,972198. 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 a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.


For further enquiries, please visit or contact:



BSF Enterprise PLC



Via SEC Newgate below

Geoff Baker - Non-Executive Director

Che Connon - Executive Director


Shard Capital (Broker)

Damon Heath

Isabella Pierre

020 7186 9900


SEC Newgate (Financial Communications)

Bob Huxford

Elisabeth Cowell

George Esmond

020 3757 6882


ISIN of the Ordinary Shares is GB00BHNBDQ51



Notes to Editors

BSF Enterprise PLC (BSF) is focused on unlocking the next generation of biotechnological solutions - using cell-based tissue engineering to help generate cultured meat, lab-grown leather, as well as human corneas, collagen growth and skin substitutes, as part of a radical transformation to deliver sustainable solutions across a variety of sectors.


It owns 100% of 3D Bio-Tissues (3DBT), a tissue engineering with patent-protected IP that is already producing human corneas to help restore vision to millions of people. Building on this success, it aims to produce the UK's first high quality lab-grown meat from its laboratory in Newcastle the next 12 months, transforming the meat-production industry towards an ethical and sustainable practice. 


BSF aims to deliver growth to shareholders through the continued commercialisation of 3DBT's IP, which has multiple applications, as well as through M&A. It aims to acquire a suite of technologies that underpins the development of tissue templating for corneas, meat and leather, and license out the IP to manufacturers, wholesalers and distributors to help manufacture the products at scale. 



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Bsf Enterprise PLC (BSFA)

-0.20p (-4.21%)
delayed 09:06AM