Issue of Equity and Total Voting Rights

Kromek

09/06/2025 07:00

RNS Number : 9708L

Kromek Group PLC

09 June 2025

 

9 June 2025

 

Kromek Group plc 

("Kromek" or the "Group") 

 

Issue of Equity and Total Voting Rights

 

Kromek Group plc (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announces that the Board has issued and allotted 13,440,514 ordinary shares of 1p each ("Ordinary Shares") to Polymer N2 Ltd ("Polymer"), an investment vehicle controlled by Dr Graeme Speirs, a significant shareholder of the Group, to satisfy the payment of accrued interest on a loan facility ("Facility") previously announced on 28 September 2023  

 

The Facility, which is now repaid, carried fixed interest at a rate of 9.5%, payable quarterly. Kromek has the option to pay the interest through the issue of new Ordinary Shares at the trailing 10-day volume weighted average price of the Ordinary Shares on the date that payment falls due.

 

Accordingly, the new Ordinary Shares have been issued at prices of 4.2p, 5.7p, 7.3p, 5.8p, 5.2p and 6.5p per Ordinary Share, representing the relevant weighted average price of the  Ordinary Shares on 27 December 2023, 27 March 2024, 26 June 2024, 27 September 2024, 27 December 2024 and 14 February 2025, respectively, being the payment dates of the interest on the Facility.   

 

Application has been made for the 13,440,514 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on or around 8.00 a.m. on 13 June 2025 ("Admission").

 

The new Ordinary Shares will rank pari passu with the existing shares of the Group. Following Admission, the Group's issued share capital will consist of 654,986,840 Ordinary Shares, none of which are held in treasury. Accordingly, the figure of 654,986,840 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Group under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

 

For further information, please contact: 

  

Kromek Group plc
Arnab Basu, CEO
Claire Burgess, CFO
+44 (0)1740 626 060
Cavendish Capital Markets Limited (Nominated Adviser and Broker)
Geoff Nash/Giles Balleny/Seamus Fricker - Corporate Finance
Tim Redfern - ECM
Michael Johnson - Sales
+44 (0)20 7220 0500
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury/Henry Gamble
+44 (0)20 4582 3500

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

 

Kromek Group plc 

 

Kromek Group plc is a leading developer of radiation detection and bio-detection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing operations in the UK and US, delivering on the vision of enhancing the quality of life through innovative detection technology solutions.  

 

The advanced imaging segment comprises the medical (including CT and SPECT), security and industrial markets. Kromek provides its OEM customers with detector components, based on its core cadmium zinc telluride (CZT) platform, to enable better detection of diseases such as cancer and Alzheimer's, contamination in industrial manufacture and explosives in aviation settings.  

 

In CBRN detection, the Group provides nuclear radiation detection solutions to the global homeland defence and security market. Kromek's compact, handheld, high-performance radiation detectors, based on advanced scintillation and solid-state readout technology, are primarily used to protect critical infrastructure, events, personnel and urban environments from the threat of 'dirty bombs'.  

 

The Group is also developing bio-security solutions in the CBRN detection segment. These consist of fully automated and autonomous systems to detect a wide range of airborne pathogens.  

 

Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.  

 

 

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