Result of Placing and Subscription

Gelion

17/04/2025 11:45

RNS Number : 4991F

Gelion PLC

17 April 2025

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. FURTHER DETAILS OF THE FUNDRAISING ARE SET OUT BELOW.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW SHARES OF GELION PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, SUCH INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

UNLESS OTHERWISE DEFINED, CAPITALISED TERMS USED HEREIN SHALL HAVE THE MEANINGS GIVEN IN THE COMPANY'S ANNOUNCEMENT PUBLISHED AT APPRXOMATELY 7.05 A.M. (BST) TODAY, 17 APRIL 2025.

17 April 2025

Gelion plc
 ("Gelion" or the "Company")

Result of Placing and Subscription

and

Posting of Circular and Notice of General Meeting 

Gelion plc (AIM: GELN), the global energy storage innovator, is pleased to announce that, further to its announcement published earlier today in respect of the Fundraising and due to additional demand in the accelerated bookbuild process, which has now closed, the Company has increased the size of the Placing, in line with its Terms and Conditions. Accordingly, the Company has raised an aggregate of approximately £2.0 million (before expenses) by way of the issue of 22,551,753 New Shares, pursuant to the Placing and Subscription.

The Placing raised gross proceeds of £0.88 million through the issue of 9,773,982 Placing Shares and the Subscription raised gross proceeds of £1.15 million through the issue of 12,777,771 Subscription Shares.

As part of the Fundraising, the Company also announced details of a Retail Offer to be made to existing Shareholders in the UK to raise up to an additional maximum of £191,389.86 through the issue of up to 2,126,554 Retail Offer Shares, at the Issue Price. The Retail Offer is being conducted via the Bookbuild Platform. The Retail Offer is expected to close at 5.00 p.m. (BST) on 22 April 2025, and the results of the Retail Offer will be announced separately thereafter.

Posting of Circular and Notice of General Meeting

The Placing, Subscription and Retail Offer are each conditional, inter alia, upon Shareholders approving the Resolutions at the General Meeting which is expected to be held on 6 May 2025. The Circular, which contains the Notice of General Meeting in respect of the Fundraising, is expected to be posted to Shareholders today and will also be available on the Company's website at www.gelion.com.

Directors' Participation

Details of the Directors' participation in the Fundraising is set out as follows:

Director
Number of Existing Ordinary Shares
Number of New Shares subscribed for
Total number of Ordinary Shares held on Admission
Percentage of Enlarged Share Capital on Admission*
Dr Steve Mahon
1,992,782
1,111,111
3,103,893
1.79
Dr Graham Cooley
666,666
1,666,666
2,333,332
1.35
John Wood
506,333
277,777
784,110
0.45
Michael Davie
1,199,252
277,777
1,477,029
0.85
Prof. Thomas Maschmeyer
17,651,781
222,222
17,874,003
10.32

*Assuming the Retail Offer is subscribed in full.

Related Party Transaction

The above Directors' participation in the Fundraising constitutes a related party transaction pursuant to Rule 13 of the AIM Rules by virtue of their status as Directors of the Company. The independent directors of the Company, Amit Gupta and Joycelyn Morton, having consulted with the Company's Nominated Adviser, Strand, consider the terms of the Directors' participation in the Fundraising to be fair and reasonable insofar as the Shareholders are concerned.

Admission

Application will be made for the New Shares to be issued pursuant to the Fundraising to be admitted to trading on AIM, which is expected to take place at 8.00 a.m. on or around 8 May 2025 (or such later date as the Company, Oberon, Allenby and Strand Hanson may agree, but in any event not later than 8.00 a.m. on 22 May 2025).

CONTACTS

Gelion plcJohn Wood, CEO
 Amit Gupta, CFO
Prof. Thomas Maschmeyer (Founder and Director)
via Alma
Strand Hanson Limited(Nominated and Financial Adviser)
 Christopher Raggett / Rob Patrick
+44 (0) 20 7409 3494
Oberon Capital(Joint Broker) Nick Lovering / Mike Seabrook / Adam Pollock
+44 (0) 20 3179 5300
Allenby Capital Limited(Joint Broker)
Jos Pinnington / Guy McDougall (Sales and Corporate Broking)
Alex Brearley / Ashur Joseph (Corporate Finance)
+44 (0) 20 3328 5656
Alma Strategic Communications (Financial PR)
 Justine James / Hannah Campbell / Will Ellis Hancock
+44 (0) 20 3405 0205gelion@almastrategic.com

 

 

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