Result of Open Offer

30 December 2020

RUA Life Sciences plc

("RUA" or the "Company")

Result of Open Offer

RUA Life Sciences plc (AIM: RUA), the holding company of a group of medical device businesses focused on the exploitation of Elast-Eon™, a long-term implantable biostable polymer, is pleased to announce that the Open Offer, as announced on 11 December 2020, has closed oversubscribed.

Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Open Offer Entitlement.  Applications made under the Excess Application Facility will be scaled back pro-rata such that Qualifying Shareholders will receive 9.7 per cent. of the Excess Shares applied for.  The Company received valid applications from Qualifying Shareholders in respect of 3,614,557 Open Offer Shares representing an oversubscription of approximately 334.7 per cent. over the available 831,522 Open Offer Shares.

Subject to approval of the Resolutions at the General Meeting of Shareholders due to take place later today and subject to Admission, the Company has conditionally raised total gross proceeds of approximately £1.0 million from the Open Offer, which, together with the £6.0m raised by way of the Placing and Subscription, means the Company will have raised a total of approximately £7.0m as a result of the Placing, Subscription and Open Offer.

The Open Offer Shares will rank pari passu with Existing Ordinary Shares.  Open Offer Shares in uncertificated form are expected to be credited to Shareholders who hold their Ordinary Shares in CREST accounts on 31 December 2020.  Definitive share certificates for Open Offer Shares are expected to be despatched to Shareholders who hold their Ordinary Shares in certificated form by 9 January 2021.  It is expected that admission of the Open Offer Shares will become effective and dealings in the Open Offer Shares will commence at 8.00 a.m. on 31 December 2020.

The terms used but not defined in this Announcement have the meaning given to them in the announcement published by the Company on 11 December 2020 regarding the Placing, Subscription and Open Offer, unless otherwise stated.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

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About RUA Life Sciences plc

The RUA Life Sciences group was created in April 2020 when RUA Life Sciences Plc (formerly known as AorTech International Plc) acquired RUA Medical Devices Limited to create a fully formed medical device business. RUA Life Sciences is the holding company of the Group's four trading businesses, each exploiting the Group's patented polymer technology.

Our vision is to improve the lives of millions of patients by improving and enabling medical devices with Elast-Eon™, widely accepted as being the most biostable of all long-term implantable polyurethanes.

Whether it is licensing Elast-Eon™, manufacturing a device or component or developing next generation medical devices, a RUA Life Sciences business is pursuing our vision.

Elast-Eon™'s biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. These polymers can be processed using conventional thermoplastic extrusion and moulding techniques. With over 7 million implants and over 14 years of successful clinical use, the Group's polymers are proven in long-term life enabling applications.

The Group's four business units are: