REG - Vulcan Two Group PLC - Result of Placing

Vulcan TwoAnnouncement

27/02/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260227:nRSa6203Ua&default-theme=true

RNS Number : 6203U  Vulcan Two Group PLC  27 February 2026

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL (EACH A "RESTRICTED TERRITORY").

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 (AS AMENDED) AS IT FORMS PART OF THE
DOMESTIC LAW OF THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 (AS AMENDED) ("MAR").

FOR IMMEDIATE RELEASE

 

27 February 2026

Vulcan Two Group plc

(the "Company" or "Vulcan Two")

 

Result of Placing

 

Further to the announcement at 4.54 p.m. on 26 February 2026 (the "Launch
Announcement"), Vulcan Two Group plc, the company aiming to create the UK's
leading regulated ePharmacy through buy-and-build, is pleased to announce that
it has conditionally raised gross proceeds of £40 million through an
oversubscribed Placing of 20,000,000 new Ordinary Shares at the Placing Price
of 200 pence per new Ordinary Share. The Placing attracted strong support from
existing and new high quality institutional investors, providing further
validation of the Company's strategy and growth ambitions.

 

Net proceeds of the Placing, together with the existing cash in the Group,
will be used to satisfy the initial cash consideration for the Acquisitions
described in the Launch Announcement, provide working capital for the Enlarged
Group, provide available cash for further bolt-on acquisitions and to support
future trading growth.

 

 

Michael Kraftman, Chief Executive Officer of Vulcan Two, commented:

 

"We are delighted by the strong support shown in this oversubscribed
fundraising. The Placing has been met with significant demand and has
introduced a number of additional respected long-term institutions to our
share register. Their support, together with that of our existing investors,
provides both capital and credibility as we move from a period of investment
into one of execution."

 

 

Related Party Transactions

 

Under the AIM Rules for Companies, Octopus Investments Limited, Gresham House
Asset Management Ltd and Dowgate Group Limited are each deemed to be related
parties of the Company due to their respective substantial shareholdings in
the Company (together the "Related Parties"). Octopus Investments Limited,
Gresham House Asset Management Ltd and Dowgate Group Limited, have
conditionally agreed to subscribe for 2,180,000, 2,325,000 and 2,951,433
Placing Shares, respectively.  The participation of each of the Related
Parties in the Placing is deemed to be a related party transaction under the
AIM Rules for Companies. The Directors and the Proposed Director, each of
which is independent from the Related Parties, having consulted with the
Company's Nominated Adviser, Canaccord Genuity, consider that the terms of the
participation of each of the Related Parties in the Placing are fair and
reasonable insofar as Shareholders are concerned.

 

Posting of Admission Document and Notice of General Meeting

 

The Acquisitions and the Placing are conditional upon, amongst other things,
Shareholder approval being obtained at the General Meeting to be held on 17
March 2026. The Company expects to post an Admission Document to Shareholders
later today, which will contain a Notice of General Meeting. The Admission
Document will also be made available on the Company's website.

 

Other than where defined, capitalised terms used in this announcement have the
meanings given to them in the Launch Announcement.

 

 

For further information please contact:

 

 Vulcan Two Group plc                                    Email: info@vulcantwo.com (mailto:info@vulcantwo.com)

 Michael Kraftman, Chief Executive Officer

 Brendan O'Brien, Chief Operating Officer

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

 Canaccord Genuity Limited                               Tel: +44 (0) 20 7523 8000

(Nominated Adviser, Sole Bookrunner and Sole Broker)

 Simon Bridges / Harry Pardoe / Elizabeth Halley-Stott

 Alma Strategic Communications                           Email: vulcantwo@almastrategic.com (mailto:vulcantwo@almastrategic.com)

(Financial PR)

                                                       Tel: +44 (0) 20 3405 0205
 Justine James / Sam Modlin / Will Merison

 

IMPORTANT NOTICES

This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire for Placing Shares in any
Restricted Territory. Any failure to comply with these restrictions may
constitute a violation of the securities laws of such jurisdictions. Subject
to certain exemptions, the securities referred to in this Announcement may not
be offered or sold in any Restricted Territory or for the account or benefit
of any national resident or citizen of any Restricted Territory. This
Announcement has not been approved by the London Stock Exchange, nor is it
intended that it will be so approved.

Members of the public are not eligible to take part in the Placing.

Solely for the purposes of the product governance requirements of Chapter 3 of
the FCA Handbook Product Intervention and Product Governance Sourcebook (the
"UK Product Governance Requirements"), and disclaiming all and any liability,
whether arising in tort, contract or otherwise, which any "manufacturer" (for
the purposes of the UK Product Governance Requirements) may otherwise have
with respect thereto, the Ordinary Shares have been subject to a product
approval process, which has determined that the Placing Shares are: (i)
compatible with an end target market of retail investors and investors who
meet the criteria of professional clients and eligible counterparties, each
defined in paragraph 3 of the FCA Handbook Conduct of Business Sourcebook; and
(ii) eligible for distribution through all permitted distribution channels to
professional clients and eligible counterparties (the "Target Market
Assessment").

Notwithstanding the Target Market Assessment for the Placing Shares,
distributors should note that: the price of the Placing Shares may decline and
investors could lose all or part of their investment; the Placing Shares offer
no guaranteed income and no capital protection; and an investment in the
Placing Shares is compatible only with investors who do not need a guaranteed
income or capital protection, who (either alone or in conjunction with an
appropriate financial or other adviser) are capable of evaluating the merits
and risks of such an investment and who have sufficient resources to be able
to bear any losses that may result therefrom.

The Target Market Assessment is without prejudice to the requirements of any
contractual, legal or regulatory selling restrictions in relation to the
offering of the Placing Shares. Furthermore, it is noted that, notwithstanding
the Target Market Assessment, Canaccord Genuity will only procure investors
who meet the criteria of professional clients and eligible counterparties.

For the avoidance of doubt, the Target Market Assessment does not constitute:
(a) an assessment of suitability or appropriateness for the purposes of the UK
Product Governance Requirements; or (b) a recommendation to any investor or
group of investors to invest in, or purchase, or take any other action
whatsoever with respect to the Placing Shares.

Each distributor is responsible for undertaking its own target market
assessment in respect of the Placing Shares and determining appropriate
distribution channels.

Canaccord Genuity is authorised and regulated by the Financial Conduct
Authority ("FCA"), is acting exclusively for the Company and no one else in
connection with the Placing and will not be responsible to anyone other than
the Company for providing the protections afforded to its clients nor for
providing advice in relation to the Placing and/or any other matter referred
to in this announcement.

This announcement is being issued by and is the sole responsibility of the
Company. No representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or will be
accepted by Canaccord Genuity (apart from the responsibilities or liabilities
that may be imposed by the FSMA or the regulatory regime established
thereunder) or by any of its affiliates or agents or by any of its directors,
partners, officers, employees, advisers, representatives or shareholders
(collectively, "Representatives") for the contents of the information
contained in this announcement, or any other written or oral information made
available to or publicly available to any interested party or its advisers, or
any other statement made or purported to be made by or on behalf of Canaccord
Genuity or any of its affiliates or by any of its Representatives in
connection with the Company, the Placing Shares or the Placing and any
responsibility and liability whether arising in tort, contract or otherwise
therefore is expressly disclaimed.

Canaccord Genuity and each of its affiliates accordingly disclaim all and any
liability, whether arising in tort, contract or otherwise (save as referred to
above) in respect of any statements or other information contained in this
announcement and no representation or warranty, express or implied, is made by
Canaccord Genuity or any of its affiliates as to the accuracy, fairness,
verification, completeness or sufficiency of the information contained in this
announcement and nothing in this announcement is, or shall be relied upon as,
a promise or representation in this respect, whether as to the past or future.
This announcement does not identify or suggest, or purport to identify or
suggest, the risks (direct or indirect) that may be associated with an
investment in the Placing Shares. Any investment decision to buy Placing
Shares in the Placing must be made solely on the basis of publicly available
information, which has not been independently verified by Canaccord Genuity.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ROIMZGZZFVGGVZZ



            Copyright 2019 Regulatory News Service, all rights reserved