This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.  The directors take responsibility for this announcement.

14 January 2021

SulNOx Group Plc (the "Company" or "SulNOx")

Subscription for New Ordinary Shares

(Aquis Stock Exchange: SNOX)

The board of the directors of the Company (the "Board") is pleased to confirm that several shareholders have entered into agreements to subscribe a total of £50,100 (the "Subscription") of new ordinary shares of 2 pence each in the capital of the Company ("Ordinary Shares").  The Subscription is for a total of 120,000 new Ordinary Shares (the "Subscription Shares") at a price of 41.75 pence per Subscription Share (the "Subscription Price"), a 1.8 per cent premium to the closing mid-market price of the Ordinary Shares on the AQSE Growth Market ("AQSE") on 12 January 2021. 

Both the proceeds of the Subscription were received, and the Subscription Shares allotted on 13 January 2021, while an application has been made for the Subscription Shares to be admitted to trading on the Access Segment of the AQSE on 19 January 2021 ("Admission").  The Subscription Shares will equate to approximately 0.14 percent of the issued Ordinary Shares following Admission.

As outlined in the Company's half yearly financial report announced on 31 December 2020, the Company's UK distributor Eliminox has demonstrated the significant efficacy of SulNOx's Fuel Conditioner product at its initial customer within the haulage industry.  The Board intends to use the proceeds of the Subscription to progress the Company's initial expansion in this sector and for general working capital purposes.  However, the Board appreciates that to fully exploit the opportunities available to it within the UK haulage sector, it will require additional working capital, and it is their intention to raise further funds for this purpose as well as further research and development work on the Heavy Fuel Oil Emulsification product.

Radu Florescu, CEO, Commented, "Since joining the Board with my fellow new Directors just over a month ago, we have made exciting progress on a number of fronts.  The Collaboration Agreement with Rigworld announced on 8 December and the success demonstrated by the first commercial user of our Fuel Conditioner product within the haulage sector have confirmed the faith your new Board has that 2021 is set to be a year of great progress for SulNOx, and this faith is shared by our founding shareholders, as demonstrated through their participation in the Subscription."

Total Voting Rights & Significant Shareholder Disclosures

Following Admission, the issued share capital of the Company will comprise 85,502,843 Ordinary Shares, with one voting right per Ordinary Share. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares and voting rights in the Company is 85,502,843.  

Following Admission, the Significant Shareholders of the Company will be as set out below.   The Option Agreements have disclosable holdings under the Disclosure Guidance & Transparency Rules and are Significant Shareholders under the AQSE rules.  An updated list of Significant Shareholders (with Option defined as per the announcement of 18 December 2020) is as follows:

* Ms Bravo's holding includes 4,077,735 Ordinary Shares in the name of Sungold Escrow Nominees Ltd, a company she controls, which has entered into the Option Agreement, and 1,240,000 Ordinary Shares she holds as bare trustee for her non-adult daughter.

Stephen Bamford who subscribed for 20,000 Subscription Shares is a Related Party under the AQSE Growth Market Access Rules.

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