REG - Geiger Counter Ltd Geiger Counter - GCS - Subscription Rights Rump Placing

Geiger CounterAnnouncement

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RNS Number : 4097D  Geiger Counter Ltd  07 May 2026

Geiger Counter Limited (or the "Company")

7 May 2026

Exercise of outstanding Subscription Share Rights

 

The Company announces that further to the announcement on 6 May 2024, the
Subscription Trustee has exercised all of the 6,815,308 outstanding
Subscription Rights (the "Rump").  The ordinary shares of no par value in the
capital of the Company ("Ordinary Shares") that arose from the exercise of the
Rump have been sold by Cavendish Capital Markets Limited by way of a secondary
market placing at a price of 70 pence per Ordinary Share, raising total gross
proceeds for the Company of £2.5 million (based on the exercise price of
37.20 pence).  The difference between the placing price and exercise price,
after deduction of the costs (of exercising the Subscription Rights of the
Rump and all the costs and expenses of the Subscription Trustee, the Registrar
and the secondary market placing), being the resultant net proceeds, will be
distributed by the Registrar to those shareholders who did not exercise their
subscription rights, in proportion to their Shareholding on the Record Date,
by 31 May 2026.

Accordingly, the Company announces that it will be issuing and allotting a
further 6,815,308 Ordinary Shares, pertaining to the outstanding Subscription
Rights exercised by the Subscription Trustee, subject to admission to
trading.  Application will be made for the new Ordinary Shares to be admitted
to trading on the LSE.  It is expected that dealings in the new Ordinary
Shares will commence at 8.00 a.m. on 11 May 2026.

Following the exercise of all Subscription Rights, the Company has raised a
total of £7.8 million (on the exercise price of 37.20 pence).  The funds
raised will be invested in a manner consistent with the stated investment
objectives of the Company.

 

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules ("DTRs"), following Admission the issued ordinary share
capital of the Company will consist of 173,641,396 Ordinary Shares, of which
47,838,208 shares are held in treasury by the Company, resulting in
125,803,188 Ordinary Shares with voting rights attached. This figure of
125,803,188 Ordinary Shares may be used by the Company's shareholders as the
denominator for the calculation by which they will determine whether they are
required to notify their interest in, or a change to their interest in, the
share capital of the Company under the DTRs.

 

The information contained within this RNS is considered to be inside
information prior to its release.

 

Enquiries

 

 Manulife | CQS Investment Management    Craig Cleland                              T: +44 (0) 20 7201 5368
 Cavendish Capital Markets Limited       Tunga Chigovanyika                         T: +44 (0) 20 7397 1915

                                          (Corporate Finance)
                                         Daniel Balabanoff / Pauline Tribe (Sales)  T: +44 (0) 20 7220 0500
 Summit Fund Services Jersey Limited     Christopher Foulds                         T:+44 (0) 1534 825 259

 

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