Sale of existing Convertible Note to Peters Investments Pty Ltd Australian-basedbio-separationsandreproductivebiotechnologycompanyMemphasys 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 $1.35m1,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 theFelix™ 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 inmarkets 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
MEM Price at posting:
8.3¢ Sentiment: None Disclosure: Held
