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REG - Zenova Group PLC - Placing to Raise £500,000, Total Voting Rights

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RNS Number : 1989B  Zenova Group PLC  31 May 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 ("MAR") WHICH IS PART OF
ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN

31 May 2023

Zenova Group PLC

("Zenova", the "Company" or the "Group")

 

Placing to Raise £500,000, Total Voting Rights

 

Zenova Group PLC (AIM: ZED), a provider of innovative fire safety and heat
management technology and products, is pleased to announce that it has raised
gross proceeds of £500,000 by way of a placing of 12,500,000 ordinary shares
at  four pence (4p)  each ("the Placing"). The proceeds of the Placing will
provide general working capital as the Company continues to implement its
growth strategy.

 

On receipt of the net proceeds of the Placing, the Company will have cash
resources of approximately £0.7 million. In addition, as detailed in the
Final Results announcement earlier today, the Company has available a
£350,000 working capital loan under which no funds have been drawn down.

 

Admission and Total Voting Rights

 

Application will be made to the London Stock Exchange for the admission of the
12,500,000 new ordinary shares to trading on AIM ("Admission"). Admission is
expected to occur at 8.00 a.m. on or around 6 June 2023.

 

Following Admission, the total number of voting rights in the Company will be
105,884,053. As the Company holds no shares in treasury, this figure can 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 Company under the Rules.

 

Tony Crawley, Chief Executive of Zenova Group plc commented: "We are pleased
to have secured additional funding to provide working capital as we continue
our focus on sales growth over the next twelve months and beyond."

 

For further information please contact:

 Zenova Group PLC
 Tony Crawley, Chief Executive Officer  Via Orana Corporate LLP:

Anthony Eastman
 Don Nicolson, Executive Chairman
Tel: +44 20 3475 6834

 SPARK Advisory Partners Limited (Nominated Adviser)
 Matt Davis / Adam Dawes                Tel: +44 20 3368 3550

 SI Capital Limited (Broker)
 Nick Emerson                           Tel: +44 1483 413 500

 

 

 

About Zenova Group PLC

 

The Group, through Zenova Ltd, is the holder of intellectual property that
underpins a suite of fire safety and temperature management products and
technology. The product range is applicable to industrial, commercial, and
residential markets. The Group's solutions include fire retardant paints,
insulating paints and render, fire extinguishing fluid and applications.
Through innovative development, and a refined formulation and development
process, Zenova provides industry leading solutions across a range of fire
protection and temperature management problems, comprising:

 

Zenova FP (https://zenovagroup.com/products/zenova-fp/)

A water-based fire-protection paint that prevents ignition and spread of fire.
It can be used in commercial, industrial, and domestic applications on a
variety of materials, from wood to metal.

Zenova FX (https://zenovagroup.com/products/zenova-fx/)

Patent pending fire extinguisher filled with proprietary Zenova Fluid (Zenova
FXB) that extinguishes all types of fires, reduces chances of re-ignition,
works in cold (-15 ̊C) conditions, is non-toxic and does not produce harmful
by-products.

Zenova FX500
(https://zenovagroup.com/products/zenova-fx/zenova-fx500-fire-extinguisher/)

A high-performance handheld fire extinguisher that is tested by independent
experts and adheres to the highest industry standards. The fire extinguisher
is safe to use on any type of fire, reduces the risk of reignition once the
fire has been extinguished and has been tested to the BS 6165 standard. It
boasts an efficient and compact design, allowing for it to be dispersed from
any 360° orientation, which ensures that the Zenova FX500 is convenient to
handle and simple to operate while providing the user with a highly effective
and fast working fire extinguisher.

Zenova IP (https://zenovagroup.com/products/zenova-ip/)

Thermal insulation paint that creates a thermal barrier, provides thermal
reflection of sunrays and infrared radiation, anti-condensation, and
anti-mould properties. It can be applied to virtually any exterior or interior
material, regardless of the surface.

Zenova IR (https://zenovagroup.com/products/zenova-ir/)

Thermal insulation render to enhance the effectiveness of insulation by
creating a thermo shield. It fills all cavities and gaps regardless of
geometric shape and creates a vacuum - the most effective insulator.

Zenova WB (https://zenovagroup.com/products/zenova-wb/)

A wildfire barrier fluid (applied via spray wands or aerial drops), which
provides a virtual barrier where fire simply will not burn. Repeated tests on
a variety of extremely dry wildfire fuels (grasses, hays, brush) demonstrates
the incredible fire resistance Zenova WB provides, while remaining viable
after application for 30+ days in dry conditions.

Zenova CS (https://zenovagroup.com/products/zenova-cs/)

Patent pending next generation ceiling sprinkler filled with proprietary
Zenova Fluid (Zenova FXB) that removes the need to install large fluid tanks,
piping, complicated equipment, and software. This sprinkler could be installed
in the kitchen.

 

The Group has achieved this without compromising the sustainability of natural
and economical resources, including personal health and safety, with
ecologically sound products.

Further information on the Group can be found at www.zenovagroup.com
(http://www.zenovagroup.com/)

 

 

 

 

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