ASX Announcements

LCT will now issue 147,480,853 Options pro rata to eligible participants in the Company’s Placement of Shares and Notes announced on 19 October 2021. This is the maximum number that may be issued by the Company under Listing Rule 7.1, and no Options may be issued under Listing Rule 7.1A.

An additional 22,678,567 Options will be issued when the Company has capacity to do so under Listing Rule 7.1. LCT will, if necessary, call a general meeting to approve the issue of the additional Options so that this can occur as soon as practicable.

All Options convert into LCT Shares at $0.015 and expire on 19 April 2024. The Options are being issued because the Company’s Rights Issue is proceeding at a lower price than the Placement.

Proposed issue of options expiring 19 April 2024.

Living Cell Technologies Limited (ASX: LCT) announces the issue of options by way of placement to sophisticated and wholesale investors by the issue of:

1. 30,753,181 placement options, and

2. 116,727,672 options (on conversion of convertible notes)

All Options are being issued with an exercise price of $0.015 with an expiry date of 19 April 2024.

The Company gives notice under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act) that:

1. the options will be issued without disclosure to investors under Part 6D.2 of the Corporations Act;

2. as at the date of this notice the Company has complied with:

   a. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   b. section 674 of the Corporations Act; and

4. as at the date of this notice there is no information:

   a. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

   b. that investors and their professional advisers would reasonably require, and would reasonably expect to find in a disclosure document, for the purpose of making an informed assessment of:

      i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; and

      ii. the rights and liabilities attaching to the Placement Shares.

Dr Belinda Di Bartolo has been appointed as Chief Operating Officer. Dr Di Bartolo will lead the planning and preparations for the third clinical trial of NTCELL in Parkinson’s disease.

Dr Di Bartolo has 18 years’ experience in health and medical research. She has a clear understanding of the translational pathway of research as well as knowledge of the regulatory processes, with experience in ethics and governance committees. Dr Di Bartolo, who is based in Sydney, has outstanding leadership and relationship skills and a fundamental passion for medical research.

Prior to joining LCT, Dr Di Bartolo was a research fellow at the Kolling Institute at the University of Sydney, NSW. She previously held research roles at SAHMRI, The Heart Research Institute and the University of New South Wales, NSW. She holds a Bachelor of Medical Science (Hons) and a PhD from the University of Sydney.

LCT Executive Chairman, Professor Bernie Tuch, says the board was impressed by Dr Di Bartolo’s research experience, ability to secure funding and understanding of the regulatory requirements involved in clinical trials.

“Dr Di Bartolo brings a breadth of expertise and connections that will be invaluable as LCT puts in place the infrastructure needed for the third clinical trial with NTCELL.

“The timing couldn’t be better as we near completion of commercial discussions with NZeno as a source of pig tissue for the trial,” says Professor Tuch.

Initial preparations including trial protocols and dry runs of pig tissue between Invercargill in New Zealand and Sydney will take around two years to complete. In parallel, LCT will seek regulatory approval for the trial. The first trial participants are expected to receive treatment in 2024.