Equipmake Holdings - Result of Placing and Subscription
12/02/2024 15:46
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RNS Number : 8680C Equipmake Holdings PLC 12 February 2024
This Announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018) ("UK MAR")).
12 February 2024
Equipmake Holdings PLC
("Equipmake" or the "Company")
Result of Placing and Subscription
Equipmake, the UK-based engineering specialist pioneering the development and
production of electrification products across the automotive, aerospace, bus,
and coach industries, is pleased to announce that, further to its announcement
at 1.01 p.m. (the "Launch Announcement"), the Bookbuild has now closed and the
Company has conditionally raised approximately £4 million in aggregate
(before expenses) through the placing of 54,066,666 Placing Shares at the
Issue Price, being 6 pence per New Ordinary Share, and a subscription of
13,166,666 Subscription Shares at the Issue Price.
In addition to the Placing and Subscription, the Company is also providing
retail investors with the opportunity to subscribe for an aggregate of up to
5,000,000 Retail Offer Shares at the Issue Price via the BookBuild platform,
to raise up to approximately £0.3 million (before expenses). The Retail Offer
is due to close at 4.35pm on or around 14 February 2024 and the results of the
Retail Offer will be announced separately thereafter.
Admission and Total Voting Rights
Application will be made for the Placing Shares to be admitted to trading on
the Aquis Apex exchange. It is expected that dealings in the VCT Placing
Shares will commence at 8.00 a.m. on or around 15 February 2024 ("First
Admission") and dealings in the Non-VCT Placing Shares, Subscription Shares
and Retail Offer Shares is expected to commence at 8.00 a.m. on or around 16
February 2024 ("Second Admission") (or such later date as may be agreed
between the Company and the Joint Brokers, but no later than 22 February
2024).
The Placing Shares and Subscription Shares will be issued fully paid and will
rank pari passu in all respects with the Company's existing Ordinary Shares.
Upon First Admission (admission to trading of 46,899,999 VCT Placing Shares)
the Company will have 997,904,540 Ordinary Shares in issue. There are no
shares held in treasury. The total voting rights in the Company is therefore
997,904,540 and shareholders may use this figure as the denominator by which
they are required to notify their interest in, or change to their interest in,
the Company under the Disclosure Guidance and Transparency Rules.
Related Party Transaction
Schroders Investment Management Ltd is a Substantial Shareholder of the
company as defined by the Aquis Growth Market Apex Rulebook and its
participation in the Placing constitutes a related party transaction under the
Aquis Growth Market Apex Rulebook. The Directors of the Company, having
exercised reasonable care, skill and diligence, consider that the related
party transaction is fair and reasonable as far as the shareholders of the
Company are concerned.
Capitalised terms used in this announcement and not separately defined shall
have the same meanings as defined in the Launch Announcement.
For further information, please contact:
Equipmake Via St Brides Partners
Ian Foley, Founder and CEO
Steven McGillivray, CFO
Panmure Gordon (Corporate Adviser and Joint Broker) Tel: +44 (0)20 7886 2500
James Sinclair-Ford / Freddie Twist / Joseph Tan
Hugh Rich / Sam Elder
VSA Capital Limited (Joint Broker) Tel +44 (0)20 3005 5000
Simon Barton / Simba Khatai / Alex Cabral
St Brides Partners (Financial PR Adviser) Tel: +44 (0)20 7236 1177
Susie Geliher / Paul Dulieu equipmake@stbridespartners.co.uk
About Equipmake
Equipmake is the UK-based engineering specialist pioneering the development
and production of electrification products which are used across the
automotive, aerospace and other sectors in support of the transition from
conventional fossil-fuelled to zero-emission powertrains.
Equipmake produces ultra-high performance electric motors and complete EV
drivetrains and ultra-fast power electronic systems. As well as developing
proprietary technology - such as an ultra-compact, lightweight high
performance spoke motor - it also offers bespoke R&D solutions.
Equipmake has developed a vertically integrated solution providing fully
bespoke solutions. The Company has built a significant pipeline of
opportunities, as demand for electric vehicles increases as part of the global
decarbonisation movement.
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