Cizzle Biotechnology Holdings plc (LON:CIZ), the UK based diagnostics developer of early cancer tests, announces that the Company has received a notice to convert £400,000 of convertible loan notes (CLNs) held by Frazer Lang (registered in the name of Ropemaker Nominees Limited), an existing investor in the Company.
On 20 May 2025, the Company secured funding of £150,000 through the issue of CLNs to Frazer Lang and the funding provided by him was extended though the issue of further CLNs of £250,000 on 5 November 2025. The CLNs are convertible at the election of the Note Holder into new ordinary shares of 0.01p in the Company at a price of 1.4 pence per Ordinary Share. Following receipt of the conversion notice the Company will therefore issue 28,571,429 new Ordinary Shares to the Note Holder.
In addition, the Company announced on 2 April 2026 that it has entered into a new facility to provide the Company with up to £250,000 through the potential issue of further unsecured convertible loan notes (“Facility Notes”) to the Note Holder. The Facility Notes can be drawn down, at the sole election of the Company as to £100,000 on 1 May 2026, £100,000 on 1 June and £50,000 on 1 July 2026. The Facility Notes are convertible at 1.4 pence per Ordinary Share at any time up to 30 October 2026. The Company has now drawn down £100,000 of the Facility Notes and following completion of the £400,000 CLN conversion, the Note Holder will hold £100,000 of CLNs.
Admission and Total Voting Rights
Application will be made for the 28,571,429 Conversion Shares to be admitted to trading on the Main Market of the London Stock Exchange and to listing on the FCA Official List (“Admission”). It is expected that the issue of the 28,571,429 Conversion Shares will take place, Admission will become effective and that dealings in the Conversion Shares on the Main Market of the London Stock Exchange will commence on or around 11 May 2026.
On Admission, Cizzle Biotechnology will have 424,963,202 Ordinary Shares in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company’s total number of Ordinary Shares and voting rights will be 424,963,202 and this figure may be used by shareholders from Admission 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 Guidance and Transparency Rules.
