Skip to content

SulNOx Group PLC - Subscription for New Shares & Holding in Company


Announcement provided by

SulNOx Group Plc · SNOX

11/10/2023 13:36

SulNOx Group PLC - Subscription for New Shares & Holding in Company
RNS Number : 8222P
SulNOx Group PLC
11 October 2023
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

 

 11 October 2023

 

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

 

Subscription for New Shares

Holding in the Company

(Aquis Stock Exchange: SNOX)

 

The board of directors of the Company (the "Board") is pleased to announce that Nistadgruppen AS ("Nistad"), an existing substantial shareholder, has agreed to subscribe for 3,111,111 new ordinary shares of 2 pence each ("Ordinary Shares") at a price of 22.5 pence per Ordinary Share (representing a discount of 7.4% to the average closing price of the Ordinary Shares for the last 5 trading days of 24.3p) to raise a total of £700,000, before expenses (the "Subscription"). It is expected that the funds raised under the Subscription will be utilised for general working capital purposes.

 

The new Ordinary Shares will be allotted under the Company's existing unspent share issue authorities and are expected to be admitted to trading on the AQSE Growth Market on 17 October 2023 ("Admission").  On Admission, the Company will have 113,224,386 Ordinary Shares in issue, each with one voting right. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company is 113,224,386. This figure should be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Including Ordinary Shares already held, Nistad will hold a total of 16,306,763 Ordinary Shares on Admission, equivalent to 14.40% of the Ordinary Shares, as enlarged by the Subscription.  As Nistad has an existing interest in more than 10% of the Company's Ordinary Shares, the constitute a related party transaction under the AQSE Growth Market Apex Rules.  The Board has concluded, having exercised reasonable care, skill and diligence, that the Subscription is fair and reasonable as far as the shareholders of the Company are concerned.

 

Radu Florescu, Chairman of SulNOx, commented, "I am delighted that Nistad have continued to show their confidence in the Company, its products and strategic direction, and shown this confidence in such a tangible fashion."

 

 

- Ends -

 

For further information please contact:

 

SulNOx Group plc
Steven Cowin, CFO

 

Tel: 07624 491 821



Allenby Capital Limited

(AQSE Corporate Adviser)

Nick Harriss / John Depasquale

Tel: 020 3328 5656

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
NEXBDBDGLXBDGXB]]>

View more ...

SNOX announcementsAll announcements

Company

  • About
  • News
  • Investor Relations
  • Contact
  • Careers
ISO 27001 Certified

© Aquis Exchange 2024. All rights reserved.

Terms & ConditionsPrivacy PolicyModern Slavery & Human Trafficking Policy
System statusnormal