REG - Onward Opportunities - Additional Subscription and Total Voting Rights

Onward OpportunitiesAnnouncement

10/10/2025 07:00

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RNS Number : 8203C  Onward Opportunities Limited  10 October 2025

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended. Upon the publication of this announcement
via a Regulatory Information Service, this inside information is now
considered to be in the public domain.

 

10 October 2025

 

Onward Opportunities Limited

("Onward Opportunities" or the "Company")

 

Additional Subscription and Total Voting Rights

 

Onward Opportunities Limited, the UK smaller company focussed investment
company, is pleased to announce that, further to the announcement of 7.00 a.m.
on 7 October 2025, and in response to additional investor demand it has raised
further gross proceeds of approximately £0.6 million by way of an additional
direct subscription (the "Additional Subscription") for 404,803 new ordinary
shares (the "Additional Subscription Shares") at a price of 136.1 pence per
Additional Subscription Share.

 

The Subscription and Additional Subscription, in aggregate, have raised gross
proceeds of £2.0 million. The net proceeds, being approximately £1.99
million, will provide the Company with additional resources with which to
pursue its stated investing policy.

 

Application has been made for the Additional Subscription Shares to be
admitted to trading on AIM ("Admission"). Admission is expected to occur at
8.00 a.m. on or around 14 October 2025 and the Additional Subscription Shares
will, on issue, rank pari passu in all respects with the Company's existing
ordinary shares.

 

Related Party Participation in the Additional Subscription

 

Dowgate Wealth Limited (the "Portfolio Manager"), the Company's Portfolio
Manager and a Substantial Shareholder of the Company, has subscribed for
78,463 Additional Subscription Shares. As a result, and on Admission, the
members of the Concert Party in the Company will collectively hold an
aggregate of 11,396,167 ordinary shares in the Company, representing 39.6 per
cent. of the Company's enlarged issued ordinary share capital, of which the
Portfolio Manager holds 10,030,052 ordinary shares, representing 34.9 per
cent. of the Company's enlarged issued ordinary share capital, on behalf of
its discretionary clients.

 

The Portfolio Manager is deemed a related party of the Company pursuant to the
AIM Rules for Companies (the "AIM Rules") and the Portfolio Manager's
participation in the Additional Subscription constitutes a related party
transaction under Rule 13 of the AIM Rules. The directors of the Company
consider, having consulted with the Company's nominated adviser, that the
Portfolio Manager's participation in the Additional Subscription is fair and
reasonable insofar as shareholders are concerned.

 

Total Voting Rights

 

On Admission, the Company will have a total of 28,752,739 ordinary shares in
issue. No ordinary shares are held in treasury. The figure of 28,752,739 may
be used by the Company's shareholders as the denominator in 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 Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

Capitalised terms not otherwise defined in the text of this announcement have
the same meanings ascribed to them as in the "Issue of Equity" announcement
published by the Company at 7.00 a.m. on 7 October 2025.

 

 FOR FURTHER ENQUIRIES

 Onward Opportunities Limited                                            Tel: +44 (0)20 3416 9143

 Andrew Henton, Chairman                                                 hello@dowgate.co.uk

 Dowgate Wealth Limited (Portfolio Manager)                              Tel: +44 (0)20 3416 9143

 Laurence Hulse, Lead Fund Manager                                       hello@dowgate.co.uk

 Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker)  Tel: +44 (0)20 7220 0500

 Ben Jeynes - Corporate Finance

 Chris West / Matt Lewis - Sales and Corporate Broking

 Dowgate Capital Limited (Joint Broker)                                  Tel: +44 (0)20 3903 7715

 Russell Cook / Daniel Ingram

To find out more, please visit: www.onwardopportunities.co.uk
(http://www.onwardopportunities.co.uk)

 

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