REG - EMV Capital PLC - Result of Subscription

EMV CapitalAnnouncement

03/12/2024 13:30

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RNS Number : 6458O  EMV Capital PLC  03 December 2024

For immediate release

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF THE LAWS OF
ENGLAND AND WALES PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (UK
MAR). UPON PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE WITHIN THE PUBLIC DOMAIN.

 

EMV Capital plc

 

("EMV Capital" or the "Company" or the "Group")

 

Result of Subscription

 

Successful Subscription to raise £880,000

 

EMV Capital plc (AIM: EMVC), the deeptech and life sciences VC investment
group, is pleased to announce, following its announcement made earlier today
(Impact Announcement), the successful completion of the Subscription at the
Issue Price of £0.50 per New Share for 1,760,000 New Shares, raising in
aggregate £880,000 from new and existing shareholders. Terms defined in the
Impact Announcement have the same meanings in this announcement.

Retail Offer

As announced earlier today, the Company also launched the Retail Offer through
the Winterflood Retail Access platform to raise up to £620,000. The Retail
Offer is expected to close at 4:30 p.m. on 4 December 2024, or such later time
and date as the Company and Winterflood may agree, the results of which are
expected to be announced on or around 5 December 2024.

Related party transactions

Director participation

Ilian Iliev (Chief Executive Officer) has participated in the Subscription by
subscribing for 200,000 New Shares at the Issue Price, with payment therefor
to be settled by releasing the Company from £100,000 of the annual bonus
awarded to him for the year ended 31 December 2023, such amount being c.80 per
cent. of such annual bonus.

Charles Spicer (Non-Executive Chair) and Ed Hooper (Executive Director) intend
to participate in the Retail Offer by subscribing for New Shares (20,000 and
180,000 respectively) at the Issue Price via their respective Self-Invested
Personal Pensions. Further details will be included in the announcement of the
result of Retail Offer.

Ilian Iliev is deemed to be a related party pursuant to Rule 13 of the AIM
Rules for Companies and his participation in the Fundraising (as described
above) is a related party transaction for the purposes of such Rule (Director
RPT).

The table below summarises the interests of Ilian Iliev in the Fundraising.

 Existing beneficial shareholding  New Shares subscribed for  Shareholding on Admission  Shareholding as a percentage of the enlarged share capital upon Admission*
 3,661,457                         200,000                    3,861,457                  14.11%

*assuming the Retail Offer is fully subscribed

The information below the heading 'About EMV Capital plc (EMVC)', set out in
accordance with the requirements of MAR, provides further detail.

Substantial Shareholder participation

A Beckman plc SSAS (Small Self Administered Pension Scheme), which is
associated with Melvin Lawson, a substantial shareholder in the Company, has
participated in the Subscription by subscribing for 100,000 New Shares at the
Issue Price (Substantial Shareholder Participation). The Substantial
Shareholder Participation is deemed to be a related party transaction pursuant
to the AIM Rules for Companies (Shareholder RPT).

AIM Rule 13 fair and reasonable opinion

Jonathan Robinson, being the Director who is independent of the Director RPT
and the Shareholder RPT (together Related Party Transactions), having
consulted with the Company's nominated adviser, Panmure Liberum Limited,
considers the terms of the Related Party Transactions to be fair and
reasonable insofar as the Company's shareholders are concerned.

Admission

Application will be made to London Stock Exchange plc for the admission to
trading on AIM of the Subscription Shares and such number of Retail Offer
Shares as are subscribed for pursuant to the Retail Offer (Admission). It is
expected that Admission will become effective and dealings will commence at
8.00 a.m. on or around 9 December 2024.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Ed Hooper, Executive Director and General Counsel of
the Company.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

-ends-

 

 For more information, please contact:

 EMV Capital plc                                                             via Rosewood
 Ilian Iliev, CEO

 Panmure Liberum (UK) Limited (NOMAD and Broker)                             +44 (0)20 7886 2500
 Emma Earl / Will Goode / Freddy Crossley / Mark Rogers (Corporate Finance)
 Rupert Dearden (Corporate Broking)

 Rosewood (Financial PR)                                                     +44 (0)20 7653 8702
 John West / Llewellyn Angus / Lily Pearce

 

About EMV Capital plc (EMVC)

EMV Capital plc, formerly known as NetScientific plc, is a deep tech and life
sciences venture capital investment group with an international portfolio of
high-growth companies.

 

With a strategic focus on generating superior returns for investors from the
fast-growing sectors and technologies that will define our future; EMV Capital
invests in, manages and strengthens early stage IP-rich companies.

 

EMV Capital holds both direct equity stakes and carried interest in its
portfolio companies, creating an evergreen structure that supports extensive
growth and value creation. EMV Capital's investment thesis is realised through
these capital sources:

 

·      capital-efficient investments through Group balance sheet;

·      fund management of the Evergreen EIS and Martlet Capital Funds;

·      syndicated investments leveraging its network of third-party
investors.

 

EMV Capital's approach is characterised by its proactive management style,
aiming to advance portfolio companies to critical value inflection points by
actively engaging with them. Companies are supported through Board
representation and the use of its Value Creation Services practice.

 

Headquartered in London, with a Cambridge presence and strong international
links, EMV Capital is quoted on the AIM market of the London Stock Exchange.

 

www.emvcapital.com (http://www.emvcapital.com)

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

 

 1    Details of the person discharging managerial responsibilities / person closely

    associated

 a)   Name                                                         Dr Ilian Iliev
 2    Reason for the notification
 a)   Position/status                                              Director
 b)   Initial notification /Amendment                              Initial Notification

 3    Details of the issuer, emission allowance market participant, auction

    platform, auctioneer or auction monitor

 a)   Name                                                         EMV Capital plc
 b)   LEI                                                          213800N5WD46G1Y7I458
 4    Details of the transaction(s): section to be repeated for (i) each type of

    instrument; (ii) each type of transaction; (iii) each date; and (iv) each
      place where transactions have been conducted
 a)   Description of the financial instrument, type of instrument  EMVC 5p Ordinary Shares

      Identification code

                                                                   GB00BN4R5Q82
 b)   Nature of the transaction                                    Subscription for new Ordinary Shares
 c)   Price(s) and volume(s)

Price(s)  Volume(s)

                                                                   £0.50     200,000 shares

 
 d)   Aggregated information                                       N/a

       - Aggregated volume

       - Price

 e)   Date of the transaction                                      3 December 2024

 f)   Place of the transaction                                     UK AIM

 

d)

 

Aggregated information

 - Aggregated volume

 

 - Price

 

N/a

e)

 

Date of the transaction

3 December 2024

f)

 

Place of the transaction

UK AIM

 

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