REG - Itaconix PLC - Results of Open Offer, GM and Total Voting Rights

ItaconixAnnouncement

22/02/2023 12:30

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RNS Number : 7408Q  Itaconix PLC  22 February 2023

22 February 2023

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.

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 ORDINARY SHARES OF THE COMPANY.

This announcement should be read in conjunction with the full text of the
Circular issued on 6 FEBRUARY 2023. All capitalised terms used in this
announcement and not otherwise defined shall have the meanings given to them
in the Circular.

 

Itaconix plc

 ("Itaconix", the "Company" or the "Group")

Results of Open Offer, General Meeting

and Total Voting Rights

The Board of Itaconix plc, a leading innovator in sustainable plant-based
polymers used to decarbonise everyday consumer products, is pleased to
announce that it has received valid acceptances from Qualifying Shareholders
in respect of 4,513,420 Open Offer Shares. This represents approximately 58.2
per cent. of the 7,760,852 New Ordinary Shares available under the Open Offer.

The Board also announces that at the General Meeting held earlier today, all
Resolutions were duly passed by Shareholders.

The Company has therefore raised, in aggregate, gross proceeds of
approximately £10.5 million through the Placing, Subscription and Open Offer.

Admission and Total Voting Rights

Application has been made for the 138,563,048 New Ordinary Shares (being the
133,094,856 Conditional Placing Shares, 954,772 Subscription Shares and
4,513,420 Open Offer Shares) to be admitted to trading on AIM. It is expected
that the Admission of the Conditional Placing Shares, the Subscription Shares
and the Open Offer Shares will occur and dealings in the New Ordinary Shares
will commence at 8.00 a.m. on 27 February 2023.

Following Admission, the total number of Ordinary Shares in issue will be
674,306,055. There are no Ordinary Shares held in treasury. Accordingly, the
total number of voting rights in the Company on Admission will be 674,306,055.
This figure may be used by Shareholders as the denominator for the
calculations to 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.

John R. Shaw, CEO of Itaconix, commented:

"We have successfully raised gross proceeds of £10.5 million. I am extremely
pleased to welcome new institutional shareholders to the Company. We are now
entering a new stage of development as we aim to become a much larger
sustainable ingredient company. Our strong balance sheet now gives us the
opportunity to target higher revenue growth from our current ingredients.
There are a number of exciting opportunities for us to develop new ingredients
and increase revenues from our substantial itaconate technology platform. We
approach the future with more commercial progress, more resources, more
potential, and more optimism than ever before."

 

For further information please contact:

 Itaconix plc                                   +1 603 775 4400
 John R. Shaw / Laura Denner
 Belvedere Communications                       +44 (0) 20 3008 6864
 John West / Llew Angus
 finnCap                                        +44 (0) 20 7220 0500

 Nominated Adviser & Broker, Bookrunner
 Ed Frisby / Abigail Kelly (Corporate Finance)

 Andrew Burdis / Sunila de Silva (ECM)
 Canaccord Genuity                              +44 (0) 20 7523 8000

 Co-Lead Manager
 Adam James / Sam Lucas (Investment Banking)

About Itaconix

Itaconix uses its proprietary plant-based polymer technology platform to
produce and sell specialty ingredients that improve the safety, performance,
and sustainability of consumer products. The Company's current ingredients are
enabling and leading new generations of products in cleaning, hygiene, and
beauty. Itaconix's contributions to the global low carbon economy are
recognised by the London Stock Exchange's Green Economy Mark.

www.itaconix.com (http://www.itaconix.com/)

The Notification of Dealing Forms set out below are provided in accordance
with the requirements of MAR.

 1   Details of the person discharging managerial responsibilities ("PDMR") /
     person closely associated ("PCA")
 a)  Name                                                         John R. Shaw
 2.  Reason for the Notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/Amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Itaconix plc
 b)  LEI                                                          213800OKA3GOCK2ZA496
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the Financial instrument, type of instrument  New Ordinary Shares of 1 pence each
     Identification code                                          GB00B84LVH87
 b)  Nature of the transaction                                    Purchase of New Ordinary Shares
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  5.1p      79,564
 d)  Aggregated information:                                      See 4c) above

     · Aggregated volume

     · Price
 e)  Date of the transaction                                      27 February 2023
 f)  Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

· Aggregated volume

 

· Price

See 4c) above

e)

Date of the transaction

27 February 2023

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 1   Details of the person discharging managerial responsibilities ("PDMR") /
     person closely associated ("PCA")
 a)  Name                                                         Laura Denner
 2.  Reason for the Notification
 a)  Position/status                                              Chief Financial Officer
 b)  Initial notification/Amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Itaconix plc
 b)  LEI                                                          213800OKA3GOCK2ZA496
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the Financial instrument, type of instrument  New Ordinary Shares of 1 pence each
     Identification code                                          GB00B84LVH87
 b)  Nature of the transaction                                    Purchase of New Ordinary Shares
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  5.1p      79,564
 d)  Aggregated information:                                      See 4c) above

     · Aggregated volume

     · Price
 e)  Date of the transaction                                      27 February 2023
 f)  Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

· Aggregated volume

 

· Price

See 4c) above

e)

Date of the transaction

27 February 2023

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 1   Details of the person discharging managerial responsibilities ("PDMR") /
     person closely associated ("PCA")
 a)  Name                                                         Peter Nieuwenhuizen
 2.  Reason for the Notification
 a)  Position/status                                              Non-Executive Chair
 b)  Initial notification/Amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Itaconix plc
 b)  LEI                                                          213800OKA3GOCK2ZA496
 4.  Details of the transaction(s): section to be repeated for (i) each type of
     instrument; (ii) each type of transaction; (iii) each date; and (iv) each
     place where transactions have been conducted
 a)  Description of the Financial instrument, type of instrument  New Ordinary Shares of 1 pence each
     Identification code                                          GB00B84LVH87
 b)  Nature of the transaction                                    Purchase of New Ordinary Shares
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  5.1p      795,644
 d)  Aggregated information:                                      See 4c) above

     · Aggregated volume

     · Price
 e)  Date of the transaction                                      27 February 2023
 f)  Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

· Aggregated volume

 

· Price

See 4c) above

e)

Date of the transaction

27 February 2023

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

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