REG - Directa Plus PLC - EUR 1,000,000 Loan Agreement Signed

Directa PlusAnnouncement

25/03/2024 07:00

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RNS Number : 0593I  Directa Plus PLC  25 March 2024

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25 March 2024

 

Directa Plus plc

("Directa Plus", the "Group" or the "Company")

 

€1,000,000 Loan Agreement Signed

 

Directa Plus (AIM: DCTA), a leading producer and supplier of graphene
nanoplatelets based products for use in consumer and industrial markets, has
entered into a loan agreement with a total value of €1,000,000 (the "Loan"),
with the funding to be used to complete the final payment for the acquisition
of Setcar S.A. ("Setcar"), as announced on 26 February 2024 (the
"Acquisition").

 

Terms of the Loan

Directa Plus has entered into a €1,000,000 loan with the Nant Capital, LLC
("Nant Capital"), a company owned and controlled by Patrick Soon-Shiong and
which, together with Mr Soon-Shiong, holds 28.73% of the ordinary share
capital of Directa Plus, (the "Loan"). The Loan will accrue interest at a
rate of 7 per cent. per annum and the balance, plus any interest accrued, is
repayable at any point before 31 December 2024.

 

Following completion of the Acquisition, Directa Plus' shareholding in Setcar
will increase from 50.99% to 99.95%, with an existing shareholder in Setcar
remaining a minority shareholder. Completion of the Acquisition is conditional
on, inter alia, the payment of total consideration of €1.5 million (the
"Consideration") and the passing of certain resolutions by the shareholders of
Setcar at a shareholder meeting expected to be held in April 2024.

 

The Consideration is structured as an immediate payment of €0.5 million,
which has been paid from the Group's existing cash resources, and a further
payment of €1.0 million, which is due prior to 30 March 2024 and will be
paid using the proceeds of the Loan.

 

Related Party Transaction

The Loan is deemed to be a related party transaction for the purposes of the
AIM Rules for Companies. The Directors consider, having consulted with the
Company's nominated adviser, Cavendish Capital Markets Limited, that the
terms of the Loan are fair and reasonable insofar as the Company's
shareholders are concerned.

 

Giulio Cesareo, Founder and Chief Executive of Directa Plus, commented: "The
Board is delighted to have received the support of our major shareholder, Nant
Capital, in funding the second tranche of the Setcar Acquisition. This is a
very exciting opportunity for Directa Plus and will enable us to further
capitalise upon the significant opportunities in our growing Environmental
Remediation division and to capture greater value."

For further information please visit or contact:

 

 Directa Plus plc                                                        +39 02 36714458
 Giulio Cesareo, CEO
 Giorgio Bonfanti, CFO

 Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)  +44 131 220 6939
 Neil McDonald
 Adam Rae

 Singer Capital Markets Securities Limited (Joint Broker)                +44 20 7496 3069
 Rick Thompson
 Phil Davies

 Alma Strategic Communications                                           +44 20 3405 0205
 Justine James                                                           directaplus@almastrategic.com
 Hannah Campbell
 Kinvara Verdon

 

 

Notes to Editors

 

Directa Plus (www.directa-plus.com) is one of the largest producers and
suppliers of graphene-based products for use in consumer and industrial
markets. The Company's graphene manufacturing capability uses proprietary
patented technology based on a plasma super expansion process. Starting from
natural graphite, each step of Directa Plus' production process - expansion,
exfoliation and drying - creates graphene-based materials and hybrid graphene
materials ready for a variety of uses and available in various forms such as
powder, liquid and paste.

 

This proprietary production process uses a physical process, rather than a
chemical process, to process graphite into pristine graphene nanoplatelets,
which enables Directa Plus to offer a sustainable, non-toxic product, without
unwanted by-products.

 

Directa Plus' products are made of hybrid graphene materials and graphene
nano-platelets. The products (marketed as G+(R)) have multiple applications
due to its properties. These G+(R) products can be categorised into various
families, with different products being suitable for specific practical
applications.

 

Directa Plus was established in 2005 and is based in Lomazzo (Como, Italy) and
has been listed on the AIM market of the London Stock Exchange since May 2016.
Directa Plus holds the Green Economy Mark from London Stock Exchange which
recognises companies that contribute to the global green economy.

 

 

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