REG-Everest Global Plc: Subscription for Shares

Everest GlobalAnnouncement

24/01/2023 07:15

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED
STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY
OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT
SECURITIES LAWS OF SUCH JURISDICTION.

This announcement does not constitute a prospectus or offering memorandum or
an offer in respect of any securities and is not intended to provide the basis
for any decision in respect of Everest Global plc or other evaluation of any
securities of Everest Global plc or any other entity and should not be
considered as a recommendation that any investor should subscribe for or
purchase any such securities.

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

24 January 2023                            

For Immediate Release

Everest Global plc

(“EG” or the “Company”)

Subscription for Shares

The Company is pleased to announce the subscription (the "Subscription")
for 12,726,000 new Ordinary Shares (the "Subscription Shares"), the Company
raised net proceeds totalling £699,930 at a Subscription Price of 5.5 pence
per share.

The Subscription Price represents a premium of 119 per cent to the closing
price of 2.51 pence on 20 January 2023, being the business day prior to
agreement of the Subscription. The Subscription is being conducted pursuant to
the existing authorities granted to the Directors of the Company at its annual
general meeting on 29 April 2022. The Subscription Shares represent
approximately 21.62 per cent. of the Company's issued share capital as
enlarged by the Subscription Shares.

The purpose of the Subscription is principally to fund general working capital
purposes.

The shareholders taking part in the subscription will each also receive 1
warrant for each Subscription Share. Each warrant conveys the right to
subscribe for a further new ordinary share at an exercise price of 5.5p up
until 31 December 2024.

In compliance with Prospectus Regulation Rule 1.2.4, which prohibits the
admission of more than 20% of the number of securities already admitted to
trading on the Main Market of the London Stock Exchange without a Prospectus,
the Company intends to publish a Prospectus in relation to the issue of the
Subscription Shares in order to enable those shares to be admitted to trading
on the Main Market of the London Stock Exchange in accordance with Listing
Rule 14.3.4.
 

As a result of the issue of the subscription shares, the following is the
shareholdings in the company above 3% before and after the subscription, in
addition to Directors shareholding, as far as the Directors are aware, that
are required to be disclosed in the Company.

 Shareholder                                     Pre-Subscription Shareholding  Pre-Subscription %  Post-Subscription Shareholding  Post-Subscription %  
 Golden Nice International Limited                                   13 000 000       28.16%                             13 000 000        22.08%        
 Lynchwood Nominees Limited                                           8 773 542       19.01%                              8 773 542        14.90%        
 Ms Chen Fangling                                                             -          -                                6 363 000        10.81%        
 Mr An Xiangyu                                                                -          -                                6 363 000        10.81%        
 VSA Capital Limited                                                  5 700 639       12.35%                              5 700 639        9.68%         
 Interactive Investor Services Nominees Limited                       2 967 857        6.43%                              2 967 857        5.04%         
 Vidacos Nominees Limited (N1)                                          552 599        1.20%                                552 599        0.94%         

(N1 – R Scott, a director, hold his shares in Carimar International Holding
Limited which are held by Vidacos Nominees Limited)

The total number of Ordinary Shares in issue with voting rights in the Company
will be 58,888,855 (“Total Voting Rights”). No shares are held in
treasury. The Total Voting Rights figure may be used by shareholders as the
denominator for the calculation by which they may determine if they are
required to notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please visit www.everestglobalplc.com or contact the
following:

 E verest Global plc                                                                                           
                                                                                                               
 Andy Sui, Chief Executive Officer Rob Scott, Non-Executive Director  +44 (0) 776 775 1787 +27 (0)84 6006 001  
                                                                                                               
                                                                                                               
                                                                                                               
                                                                                                               



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