The Trendlines Group Receives SGD10.88 Million (USD8 million) Investment
Librae Holdings Limited, a company related to Mr. Vincent Tchenguiz invests at SGD0.105 per share
MISGAV, Israel, July 22, 2019 /PRNewswire/ -- The Trendlines Group Ltd. ("Trendlines") (SGX: 42T) (OTCQX: TRNLY) today announced that it has signed a Subscription Agreement with Librae Holdings Limited ("LH"), for an SGD10.88 million (USD8 million) investment.
London-based discretionary beneficiary to the trust that is sole shareholder of LH, Mr. Vincent Tchenguiz, is best known for his multi-billion-pound real estate portfolio. In the past three years, he has diversified his investments with increased focus on biotechnology and planet related technologies and built a USD350 million technology venture capital portfolio managed by a strong tech investment team1. Many of his investments are in incubators, venture funds, and several medical companies in Israel.
"Trendlines' history of developing early-stage companies, combined with its hands-on investment policy and the potential of its 53 portfolio companies, makes it an attractive investment with significant potential," notes Tchenguiz. "We believe in Trendlines' business model and are convinced that this represents a great opportunity." He also noted that "today our investments are focused on Europe, Israel, and the United States, but we have been looking at Singapore as a target for a long time, and we view Trendlines as an avenue into that important market. We believe we could provide new markets for the underlying companies and very much like the concentration in AgriTech and medical devices that fit on developing financial model both in health care and planet eco system which includes Agritech/ food tech and cleantech."
Trendlines Chairman and CEO Todd Dollinger commented on the investment, "We are very excited to have LH join us as a shareholder. Their numerous life science investments in Israel and around the world make them more than a financial investor, but an investor with the ability to provide strategic value to Trendlines."
LH will purchase 103.6 million new ordinary shares in the capital of Trendlines, representing about 14.55% of the enlarged share capital of Trendlines following the placement. LH will purchase the shares at a price of SGD0.105 per share and for total consideration of SGD10.88 million (USD8 million at the exchange rate of USD1.00 = SGD1.360).
About The Trendlines Group
Trendlines is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Trendlines' shares are traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX (OTCQX: TRNLY).
Forward Looking Statement
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission.
References:
1 https://www.ft.com/content/1bce0ee6-2624-11e9-8ce6-5db4543da632
Investor Contact Information
Israel:
Shira Zimmerman, The Trendlines Group
[email protected]
Tel: +972.72.260.7000
Singapore and China:
Reyna MEI, Financial PR
[email protected]
Tel: +65.6438.2990
SOURCE The Trendlines Group
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