Subscription to raise £172,000 and Board Changes
17/12/2024 07:00
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 AMENDED ("MAR"). ON THE PUBLICATION OF THIS ANNOUNCEMENT
VIA A REGULATORY INFORMATION SERVICE ("RIS"), THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
WeCap plc
(“Company”)
Subscription to raise £172,000 from Existing and New Investors
Board Changes
Total Voting Rights
Subscription
The Company is pleased to announce that it has raised £172,000 before
expenses through a subscription for an aggregate of 20,235,294 new ordinary
shares of 0.25p each (“Subscription”) at 0.85 pence per share
(“Subscription Shares”).
The Subscription is conditional, inter alia, on admission of the Subscription
Shares (“Admission”) and the appointment of Thomas Richardson as a
director of the Company as set out below.
Application will be made for the Subscription Shares to be admitted to trading
on the access segment of the Aquis Growth Market and this is expected to occur
on or around 20 December 2024.
Board Changes
The Company is pleased to announce the appointment of Thomas Donald Richardson
(aged 43) to the Company's board of directors (“Board”) as Non-Executive
Chairman with immediate effect.
Mr Richardson has over 25 years of experience across banking and oil & gas. Mr
Richardson is currently Chairman of two listed Companies, Fenikso and Coro
Energy Plc. Prior to investing in Fenikso, Mr Richardson served as CEO of two
private Companies in the Natural resources and infrastructure sector. Prior to
this Mr Richardson was CFO of Nostrum Oil & Gas Plc, a UK premium listed
company. Prior to joining Nostrum, Mr Richardson worked for ING, JP Morgan and
NM Rothschild, covering investment banking, capital markets and credit
derivatives.
Mr Richardson has a BSc in Economics & Politics from the University of
Bristol.
Fiona Wilmot has retired from the Board effective immediately in her role as
Non-Executive Director and Company Secretary to focus on her other business
commitments.
In addition, current directors, Sandy Barblett has become an Executive
Director and John Taylor has become a Non-Executive Director of the Company,
with immediate effect.
Orana Corporate LLP has been appointed as Company Secretary.
The Company would like to thank Fiona for her contributions during her tenure
and wishes her well for the future.
The below details all directorships held by Thomas Richardson in any other
company at any time in the previous five years:
Current directorships Previous directorships
Certiqi Limited Canadian Overseas Petroleum Ltd
Coro Energy Plc Metallon Corporation Limited
Fenikso Limited Prep Schools Trust
TDR Enterprises Holdings Limited 138-140 Gloucester Terrace (Management) limited
TDR Enterprises Limited Nice Tech Holdings AG
TDR Property Investments Ltd
Except as set out above, there is no further information regarding Thomas
Richardson, that is required to be disclosed pursuant to Rule 4.9 of the Aquis
Growth Market Access Rulebook.
Related Party Transaction
Thomas Richardson, a director of the Company, has subscribed for 1,176,471
Subscription Shares on the same terms and conditions as all other subscribers.
In accordance with Rule 4.6 of the Access Aquis Growth Market Rulebook, Mr
Richardson’s subscription is a related party transaction. The Directors of
the Company (excluding Mr Richardson, who has played no role on the Board in
discussing or voting in relation to his subscription), having exercised
reasonable care, skill and diligence, believe that Mr Richardson’s
subscription is fair and reasonable as far as the shareholders of the Company
are concerned.
Total Voting Rights
Following Admission of the Subscription Shares, WeCap plc’s issued ordinary
share capital will consist of 433,049,311 ordinary shares of 0.25 pence each.
This number represents the total voting rights in the Company, and following
Admission, may be used by shareholders as the denominator for the calculation
by which they can 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 (“FCA”) Disclosure and Transparency Rules. The Subscription
Shares shall rank pari passu in all respects with the existing ordinary
shares of the Company.
The Directors of the Company accept responsibility for the contents of this
announcement.
ENDS
Enquiries:
Company:
info@wecapplc.com
Corporate Advisor:
Peterhouse Capital Limited
+ 44 (0) 20 7469 0930 (Direct)
Corporate Broker:
Tennyson Securities Limited
Peter Krens: +44 (0) 20 7186 9033 (Direct)
1. Details of the person discharging managerial responsibilities/person closely associated
a) Name Thomas Donald Richardson
2. Reason for the notification
a) Position/status Non-Executive Chairman
b) Initial notification/Amendment Initial Notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name WeCap Plc
b) LEI 213800FYUQ8ENKDP4S43
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument Ordinary Shares of 0.25 pence each
b) Identification code GB00BKTRF404
c) Nature of the transactions Subscription
d) Price(s) and volume(s) Subscription price: 0.85 penceVolume: 1,176,471
e) Aggregated information- Aggregated volume- Price 1,176,471 Ordinary Shares of 0.25 pence eachSubscription price: 0.85 pence per share
f) Date of the transactions 17 December 2024
g) Place of the transactions Off market
Copyright (c) 2024 PR Newswire Association,LLC. All Rights Reserved