Open Offer to raise up to £1.47m – posting of Circular
The Open Offer does not constitute an offer to the public requiring
an approved prospectus under section 85 of FSMA and accordingly the
Circular does not constitute a prospectus for the purposes of the
Prospectus Rules made by the
The definitions that apply throughout this announcement can be found in the Circular.
The Company announced on
To provide Shareholders who have not taken part in the Subscription with
an opportunity to participate in the proposed issue of new Ordinary
Shares, the Company is providing all Qualifying Shareholders with the
opportunity to subscribe for an aggregate of 2,940,000 new Ordinary
Shares, to raise up to £1.47m before expenses, with a basic entitlement
of 1 new Ordinary Share for every 35 Existing Ordinary Shares currently
Shareholders should consider the Risk Factors set out in Part II of the Circular in relation to general risks and those specific to the Open Offer and the full terms and conditions on the Open Offer set out in Part III of the Circular.
Qualifying Shareholders should note that the Open Offer is not a
rights issue and therefore the Open
Further details of the Open Offer are set out below and the steps required for Qualifying Shareholders to participate in the Open Offer are set out in Part IV of the Circular.
Qualifying Shareholders may subscribe for Open
The net proceeds of amounts raised from the Open Offer will be used by the Company for general working capital purposes and corporate M&A activity.
Further details of the Open Offer and the terms and conditions on which it is being made, including the procedure for application and payment, are contained in the Circular and for Qualifying Non-CREST Shareholders on the Application Form.
To be valid, Application Forms (duly completed) and payment in full for
Copies of the Circular are available for inspection during normal business hours on any Business Day at the Company’s registered office for up to a month following Admission.
|EXPECTED TIMETABLE OF PRINCIPAL EVENTS|
|Record Date for the Open Offer||
|Announcement of the Open Offer||
|Posting of this document and Application Form to Qualifying non-CREST Shareholders||
|Open Offer Entitlements and Excess CREST Open Offer Entitlements credited to stock accounts of Qualifying CREST Shareholders||
|Recommended latest time and date for requesting withdrawal of Open Offer Entitlements from CREST||
|Recommended latest time and date for depositing Open Offer Entitlements into CREST||
|Latest time and date for splitting Application Forms (to satisfy bona fide market claims only)||
|Latest time and date for acceptance of the Open Offer and receipt of completed Application Forms and payment in full under the Open Offer or settlement of relevant CREST instruction (if appropriate)||
|Announcement of result of Open Offer||
Admission and commencement of dealings in the Open
Despatch of definitive share certificates for Open
||within 10 Business Days of Admission|
If any of the details contained in the timetable above should change,
the revised times and dates will be notified by means of an announcement
Total Voting Rights
The Company confirms that 37,060,000 new Ordinary Shares arising as a result of the Fundraising were today admitted to trading on the NEX Exchange Growth Market.
Following the admission of these Ordinary Shares the Company has
138,080,948 Ordinary Shares in issue. The Company has no shares in
treasury, therefore the figure of 138,080,948 should be used by
Shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change
of their interest in, the share capital of the Company under the
For further information on
||01580 763 033|
|finnCap Ltd||020 7220 0500|
|Headland||020 3805 4822|