REG - Deepverge PLC - Broker Offer to raise a maximum of £2.5m

DeepvergeAnnouncement

27/10/2022 07:16

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RNS Number : 2574E  Deepverge PLC  27 October 2022

DeepVerge PLC

 

("DeepVerge" or "Company")

 

Broker Offer to raise a maximum of £2.5m

 

·    DeepVerge (AIM: DVRG) announces a Broker Offer through Turner Pope
Investments (TPI) Limited. ("TPI")

·    The Issue Price of the Broker Offer is 2 pence per New Ordinary
Share.

·    Every 4 (four) Broker Offer shares issued will have 1 (one) Placing
Warrant attached, exercisable at 3 pence per Placing Warrant, for a period of
12 months from Admission of the Broker Offer shares.

·    The Broker Offer has an initial expected value of £1.0 million, but
may be extended to £2.5 million with the express agreement of the Company.

·    Existing Shareholders or other interested parties who are qualified
investors who wish to register their interest in participating in the Broker
Offer should click on the following TPI platform link: DeepVerge - TPI Broker
Offer
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fforms.office.com%2Fr%2FNPTcGKsT65&data=05%7C01%7CAndy.Thacker%40TurnerPope.com%7Ca075c8f65fac4034b90208dab7904f9a%7Cff82bd738fe84a38a86994e58a240e55%7C0%7C0%7C638024127680983587%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2BoJp4VjFh48HGWoRNwh%2Fb7o4BaBxghWISLqTbhy0ezE%3D&reserved=0)
(URL: https://forms.office.com/r/nptcgkst65)

·    All bids communicated to TPI under the Broker Offer are subject to
review and acceptance by the Company and TPI and priority will be given to
Existing Shareholders in the event of oversubscription.

·    The Broker Offer remains open until 4:30 p.m. on Friday, 28 October
2022.

·    All Broker Offer shares will be issued subject to shareholders'
approval at a General Meeting expected to take place on 14 November 2022.

 

Turner Pope Broker Offer

DeepVerge, the environmental and life science group of companies that develops
and applies AI and IoT technology to analytical instruments for the analysis
and identification of bacteria, virus and toxins, is pleased to announce that
it wishes to provide Existing Shareholders and other investors who did not
participate in the oversubscribed Fundraising announced today the opportunity
to invest in the Company. Accordingly, under the Placing Agreement, TPI has
been granted an option in the form of a Broker Offer under which TPI will, as
agent for the Company, invite subscriptions for additional new Ordinary Shares
with a value expected to be around £1.0 million at the Issue Price but which
may be increased up to £2.5 million subject to agreement between TPI and the
Company. Accordingly, the maximum number of New Ordinary Shares to be issued
under the Broker Offer at the Issue Price is 125,000,000. The maximum number
of Placing Warrants to be issued under the Broker Offer is 31,250,000.

 

The Broker Offer opens immediately and will close at 4.30 p.m. on Friday, 28
October 2022.

 

As far as is practical, participation in the Broker Offer will be prioritised
for shareholders (direct or indirect) on the register at the close of business
on 26 October 2022 ("Existing Shareholders").  If the expected maximum
subscription under the Broker Offer is taken up, it will raise an additional
£2.5 million, before expenses.

 

To subscribe for Broker Offer Shares, Existing Shareholders or other
interested parties who are qualified investors who wish to register their
interest in participating in the Broker Offer should click on the following
link: DeepVerge - TPI Broker Offer
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fforms.office.com%2Fr%2FNPTcGKsT65&data=05%7C01%7CAndy.Thacker%40TurnerPope.com%7Ca075c8f65fac4034b90208dab7904f9a%7Cff82bd738fe84a38a86994e58a240e55%7C0%7C0%7C638024127680983587%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2BoJp4VjFh48HGWoRNwh%2Fb7o4BaBxghWISLqTbhy0ezE%3D&reserved=0)
(URL: https://forms.office.com/r/nptcgkst65)

A further announcement will be made following the end of the period during
which the Broker Offer is open. If the Broker Offer is not fully subscribed by
4.30 p.m. on 28 October 2022, orders from eligible investors will be satisfied
in full, and the balance of the Broker Offer shall lapse.

 

General Meeting

Completion of the Broker Offer is conditional on the relevant Resolutions
being passed at the General Meeting, which is expected to take place on 14
November 2002. Admission of the Broker Offer Shares is expected on or around
16 November 2002. Further detail on the General Meeting and key dates for
Admission of New Ordinary Shares are contained in the RNS detailing the
Fundraising, also issued today, and will be available in the Circular to be
published to the Company's website www.deepverge.com
(http://www.deepverge.com) .

 

For further information, please contact:

 

 DeepVerge plc                          Ross Andrews, Chairman   +44 (0) 1904 40 4036

 SPARK Advisory Partners Limited        Neil Baldwin             +44 (0) 113 370 8974

 (Nominated Adviser)

 Turner Pope Investments (TPI) Limited  Andy Thacker/James Pope  +44 (0) 20 3657 0050

 (Broker)

 

 

Market Abuse Regulation (MAR) Disclosure

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER
THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF
ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

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