Pharmacy supply business Wellnex Life will certainly delay repayment for its requisition of all-natural topical discomfort alleviation brand name Pain Away as it looks for a twin listing for its shares in London.
Wellnex Life has actually become part of an arrangement with 365 Health, the suppliers of Pain Away, to postpone the repayment of a very first instalment of $2.95 million which had actually been payable on 26 October 2024.
A 2nd installation due would certainly take the overall price to $5.85 million.
Wellnex Life informed capitalists the supplier had actually accepted delay factor to consider up until 20 January 2025 to fit with the targeted timing of the twin listing of the business on the London Stock Exchange (LSE) Main Board.
Wellnex Life has actually selected a UK advising group to drive its twin listing procedure, according to the business.
“Work streams, consisting of lawful and bookkeeping records, have actually made great progression and will certainly assist in the finalisation of the syllabus in November for authorization by the FCA.
“Listing on the LSE Main Board is being pursued to aid the company’s retirement of all debts, including the deferred consideration and convertible notes, accelerate our international expansion and be able to access UK based institutional and sophisticated investors.”
Pain Away items are a series of anti-inflammatory sprays, lotions and roll-ons for the alleviation of joint and muscular tissue discomfort.
Picture: painaway.com.au
