REG - 600 Group PLC - Equity Subscription and Total Voting Rights

600Announcement

14/08/2023 15:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230814:nRSN2661Ja&default-theme=true

RNS Number : 2661J  600 Group PLC  14 August 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014, AS AMENDED (AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

14 August 2023

The 600 Group PLC

("600 Group", the "Group" or the "Company")

Equity Subscription

Total Voting Rights

The 600 Group PLC, the industrial laser systems manufacturer (AIM: SIXH), is
pleased to announce an equity subscription by Browallia Asset Management Ltd
for 9,500,000 new ordinary shares of 1 pence each in the capital of the
Company (the "Subscription Shares") at a subscription price of 5.5 pence per
Subscription Share (the "Subscription"), which will raise gross proceeds of
£522,500.

Prior to the Subscription, and as at 11 August 2023, the Group had unuaudited
gross cash balances of US$0.8 million. The net proceeds of the Subscription
will be used by the Company to provide additional working capital for the
Group's US business including the majority of the Subscription proceeds being
used to make a partial  repayment of the Group's currently fully drawn senior
secured US$5.5 million bank facility (the "Facility"). Post the repayment, the
undrawn element of the Facility, which currently matures on 30 November 2023,
will remain available to the Company.

The Subscription is conditional upon admission of the Subscription Shares to
trading on AIM ("Admission") and it is expected that Admission will occur, and
that dealings in the Subscription Shares will commence, at 8.00am on 15 August
2023.

The Subscription Shares will represent approximately 8.05% of the Company's
existing issued share capital. The Subscription Shares will rank in full for
all dividends or other distributions hereafter declared, made or paid on the
ordinary share capital of the Company and will rank pari passu in all other
respects with all other ordinary shares in issue.

Total Voting Rights

Following Admission, the total issued share capital of the Company will
consist of 127,463,341 ordinary shares of 1 pence each. The Company does not
hold any shares in treasury and therefore the total number of voting rights in
600 Group will be 127,463,341. This number may 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 to their interest in, the
Company under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

 

Enquiries:

 

 The 600 Group PLC                                     Tel: 01924 415000

 Paul Dupee, Executive Chairman

 Instinctif Partners                                   Tel: 0207 457 2020

 Tim McCall

 Cenkos Securities plc (Nominated Adviser and Broker)  Tel: 020 7397 8900

 Ben Jeynes / Max Gould (Corporate Finance)

 Henry Nicol (Sales)

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TVRBSGDIXGBDGXS