REG - Fragrant Prosperity - Issue of Equity

Fragrant Prosperity HoldingsAnnouncement

22/05/2025 07:00

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RNS Number : 6732J  Fragrant Prosperity Holdings Ltd  22 May 2025

22 May 2025

 

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Fragrant Prosperity Holdings Limited

("FPP" or the "Company")

Equity Fundraise

Fragrant Prosperity Holdings Limited ("Fragrant" or the "Company") announces
it has completed (subject to certain conditions) an equity fundraise raising
gross proceeds of £1,000,000 (the "Fundraise") through the issue of
111,111,111 ordinary shares (the "Fundraise Shares") at a price of 0.9 pence
per ordinary share.

The Fundraise has been undertaken by way of a placing of new ordinary shares
("Placing") of no par value ("Ordinary Shares") in the share capital of the
Company and was arranged by Optiva Securities Limited ("Optiva") with its
clients. Following strong demand from numerous investors, the Company has
decided to raise additional capital to enable it to continue to execute its
strategy of acquiring a disruptive AI driven fintech business, although the
Company will consider investments in other sectors if it is not able to locate
a disruptive AI driven fintech business.

The Fundraise has been undertaken by means of the Placing pursuant to which,
the Company will issue 111,111,111 ordinary shares at a price of 0.9p per new
ordinary share ("Issue Price").

The Company is in the process of submitting a prospectus to enable the issue
of shares above the current threshold of 19.99% as set in the prospectus
rules. The Company will also be calling a General Meeting in the coming days
to approve inter alia the allotment of the Fundraise Shares. The allotment of
the Fundraising Shares will be conditional inter alia on the publication of an
Financial Conduct Authority approved simplified prospectus and the passing of
certain resolutions at the General Meeting.

Warrants

In connection with the Fundraise, The Company has issued 6,666,666 warrants to
its broker exercisable at the Issue Price and valid for a period of 3 years
from the date of Admission.

Admission

The Admission of the Fundraise Shares are expected to occur at a time and date
to be communicated once the Company has sought permission at a General Meeting
and published an approved prospectus.

New corporate website

The Company has a new website found at the following domain:
 fragrantprosperity.com

 

Chairmans Comment:

"The Board is pleased to announce the Company has successfully raised £1m.
This significant capital investment means that FPP is fully funded for the
foreseeable future, enabling us to actively explore new opportunities and
identify potential acquisition targets in the FinTech sector, specifically
those leveraging AI technologies"

David Brown (IAB member) commented:

"This capital injection and vote of confidence in our strategy sets FPP in a
strong position to execute our business. I am exciting about the opportunities
and innovation that we are witnessing in the AI and fintech space and look
forward to the road ahead, in what is a truly exciting time for game changing
technology adoption"

 

This announcement contains inside information for the purposes of regulation
11 of the market abuse (amendment) (EU exit) regulations 2019/310. Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

*Ends*

 

For more information: fragrantprosperity.com

 

 

 Fragrant Prosperity Holdings Limited
                                       +44 (0) 20 3137 1902

Broker: Optiva Securities

Vishal Balasingham
 
+44 (0) 20 3137 1903

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