REG - Silver Bullet Data - Placing to raise £1 million

Silver Bullet Data ServicesAnnouncement

29/11/2023 07:00

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RNS Number : 9680U  Silver Bullet Data Services Grp PLC  29 November 2023

29 November 2023

 

Silver Bullet Data Services Group plc

("Silverbullet" or the "Company" or the "Group")

 

 

Placing to raise £1 million

and

Appointment of Joint Broker

 

Silverbullet, a provider of digital transformation services and products,
announces that the Company has raised gross proceeds of £1.0 million through
a placing (the "Placing") of 1,428,571 new ordinary shares of 1 pence each in
the Company ("Ordinary Shares") at a price of 70 pence per share (the "Placing
Shares") (the "Placing Price"). The Placing Shares equate to approximately
8.95% of the Company's currently issued share capital and the Placing Price
represents a 27.2% premium to the 6-month VWAP and a 18.4% discount to the
3-month VWAP.

The net proceeds of the Placing will be principally used to provide the
working capital required to facilitate the significant recent growth in new
contract wins and further accelerate the expansion of the Company's new 4D AI
Powered Insights Platform. As announced at its recent interim results,
Silverbullet has experienced strong revenue growth this year, with revenue
having increased by 79% and overall operating costs reduced by 8% in H1 2023
versus H1 2022, as it moves towards a position of positive EBITDA in early
FY24. The Company is witnessing significant demand for the AI-driven insight
capabilities the 4D AI Platform can provide, with clients increasingly seeking
innovative ways to utilise AI in conjunction with privacy-safe data assets to
drive marketing performance and ROI.

 

Appointment of Joint Broker

CMC Markets UK Plc ("CMC Markets") acted as the Company's sole placing agent
in respect of the Placing and has been appointed as joint broker to the
Company.  Brokers and investors wishing to gain access to future CMC Markets
transactions, should register their interest
at: https://www.cmcmarkets.com/en-gb/capx
(https://www.cmcmarkets.com/en-gb/capx) .

Admission and Total Voting Rights

The Placing has been conducted utilising the Company's existing share
authorities.  The Placing Shares will rank pari passu in all respects with
the Company's existing Ordinary Shares.  The Placing Agreement includes
customary terms and conditions. The Placing is conditional, inter alia, on
there being no breach of the obligations under the Placing Agreement entered
into between CMC Markets and the Company prior to admission of the Placing
Shares to trading on AIM becoming effective ("Admission").  Application will
be made for Admission of the Placing Shares, and it is expected that Admission
will become effective and that dealings in the Placing Shares on AIM will
commence on or around 4 December 2023.

On Admission, the Company's issued share capital will consist of 17,390,768
Ordinary Shares, each with one voting right.  Therefore, the Company's total
number of Ordinary Shares and voting rights will be 17,390,768 and, as the
Company does not hold any shares in Treasury,  this figure 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 share capital of the Company following Admission under
the FCA's Disclosure Guidance and Transparency Rules.

 

For further information please contact:

 

 Silverbullet                                               via IFC
 Ian James (CEO)

 Strand Hanson Limited - Financial and Nominated Adviser    0207 409 3494
 James Spinney / James Bellman / Robert Collins

 Oberon Capital - Joint Broker                              0203 179 5344
 Mike Seabrook / Chris Crawford / Nick Lovering

 CMC Markets - Joint Broker                                 020 3003 8632

 Douglas Crippen

 IFC Advisory                                               020 3934 6630
 Graham Herring / Tim Metcalfe / Florence Chandler          07793 839 024

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

 

About Silverbullet

 

Silverbullet's proprietary 4D AI platform is designed to enable advertisers to
target consumers in a "privacy first post cookie world". The product is a
natural extension to its existing marketing transformation services business
which already serves a blue-chip client base such as Heineken, Mars, Sony and
ITV amongst many others. The growing use of first party customer data and the
removal of third-party cookies which has already been implemented by web
browsers such as Firefox and Safari, with Google expected to phase out the use
of cookies in 2023 is accelerating marketing transformations across all
business sectors.

 

Headquartered in London, the Group employs 80+ employees across Europe, US and
APAC. The Group continues to look at other opportunities for expansion
worldwide.

 

The Company has an established and growing services business with significant
accumulated industry experience and a proven track record of delivering
strategic engagements and activation services to its clients. The majority of
the Board have held senior positions at global software companies and have
significant industry experience across data engineering, SAAS product
development and marketing.

 

The Group has close technical and commercial partnerships with multiple global
technology providers, all of which have existing sales channels and are
already delivering to clients.

 

The Group has established a strategic partnership and an entity with Local
Planet, a scaled network of over 60 agencies across the globe. Local Planet
Data Services Limited was established in December 2020 and presents a
significant opportunity to provide data services and the 4D product to the
Local Planet agency network.

 

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