REG - Nanosynth Group PLC - Placing and Subscription to raise £0.4 million

NanosynthAnnouncement

10/01/2023 07:00

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RNS Number : 1628M  Nanosynth Group PLC  10 January 2023

 

 

10(th) January 2023

 

nanosynth group plc

("nanosynth" or the "Company" or the "Group")

Placing and Subscription to raise £0.4 million

nanosynth group plc, the AIM quoted company specialising in the synthesis and
application of nanoparticles to create new and improve existing products, is
pleased to announce a conditional placing to raise gross proceeds of £0.4
million (the "Placing") through the issue of 222,222,222 new ordinary shares
of 0.01 pence each in the Company ("Ordinary Shares") at a price of 0.18 pence
per Ordinary Share (the "Placing Shares").

The issue of the Placing Shares is within the Company's existing allotment
authorities.  The Placing Shares equate to approximately 8.4% of the
Company's currently issued share capital.  In addition, participants in the
Placing have been issued with one warrant for every two Placing Shares
exercisable at 0.5p pence per share at any time up to two years from
Admission, as defined below.

The funds raised from the Placing will be principally used for working capital
purposes and to accelerate the Company's near-term commercial opportunities.

Mark Duffin, CEO of nanosynth, commented: "I am pleased that we are able to
raise money to further our commercial objectives. We are receiving
considerable interest from major household brands for our nanoparticle
technology and these funds will enable the Company to advance the progress of
these discussions. We look forward to updating the market on these
developments shortly."

Admission and Total Voting Rights

The Placing has been conducted utilising the Company's existing share issuance
authorities.  The Placing Shares will rank pari passu in all respects with
the existing Ordinary Shares.  The Placing is conditional, inter alia, on
there being no breach of the obligations under the Placing Agreement entered
into between Monecor (London) Ltd (trading as OvalX) and the Company prior to
Admission, and admission of the Placing Shares to trading on the AIM Market of
the London Stock Exchange ("Admission") becoming effective.  Application will
be made to the London Stock Exchange for the Placing Shares to be admitted to
trading on AIM.  It is expected that Admission will become effective and that
dealings in the Placing Shares on the London Stock Exchange will commence on
or around 16th January 2023.

On Admission, the Company will have 2,873,744,208 Ordinary Shares in issue,
each with one voting right.  There are no Ordinary Shares held in treasury.
Therefore, the Company's total number of voting rights will be 2,873,744,208
and this figure may be used by shareholders from Admission 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 Company under
the FCA's Disclosure Guidance and Transparency Rules.

 

Enquiries:

 nanosynth group plc
 Mark Duffin, CEO                     Via IFC

 SP Angel Corporate Finance LLP       +44 (0)20 3470 0470

 Stuart Gledhill

 Kasia Brzozowska

 IFC Advisory Limited                 +44 20 (0) 3934 6630

 Graham Herring

 Zach Cohen

 

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