TIDMSNOX
RNS Number : 6191L
SulNOx Group PLC
14 January 2021
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. The directors take
responsibility for this announcement.
14 January 2021
SulNOx Group Plc (the "Company" or "SulNOx")
Subscription for New Ordinary Shares
(Aquis Stock Exchange: SNOX)
The board of the directors of the Company (the "Board") is
pleased to confirm that several shareholders have entered into
agreements to subscribe a total of GBP50,100 (the "Subscription")
of new ordinary shares of 2 pence each in the capital of the
Company ("Ordinary Shares"). The Subscription is for a total of
120,000 new Ordinary Shares (the "Subscription Shares") at a price
of 41.75 pence per Subscription Share (the "Subscription Price"), a
1.8 per cent premium to the closing mid-market price of the
Ordinary Shares on the AQSE Growth Market ("AQSE") on 12 January
2021.
Both the proceeds of the Subscription were received, and the
Subscription Shares allotted on 13 January 2021, while an
application has been made for the Subscription Shares to be
admitted to trading on the Access Segment of the AQSE on 19 January
2021 ("Admission"). The Subscription Shares will equate to
approximately 0.14 percent of the issued Ordinary Shares following
Admission.
As outlined in the Company's half yearly financial report
announced on 31 December 2020, the Company's UK distributor
Eliminox has demonstrated the significant efficacy of SulNOx's Fuel
Conditioner product at its initial customer within the haulage
industry. The Board intends to use the proceeds of the Subscription
to progress the Company's initial expansion in this sector and for
general working capital purposes. However, the Board appreciates
that to fully exploit the opportunities available to it within the
UK haulage sector, it will require additional working capital, and
it is their intention to raise further funds for this purpose as
well as further research and development work on the Heavy Fuel Oil
Emulsification product.
Radu Florescu, CEO, Commented, " Since joining the Board with my
fellow new Directors just over a month ago, we have made exciting
progress on a number of fronts. The Collaboration Agreement with
Rigworld announced on 8 December and the success demonstrated by
the first commercial user of our Fuel Conditioner product within
the haulage sector have confirmed the faith your new Board has that
2021 is set to be a year of great progress for SulNOx, and this
faith is shared by our founding shareholders, as demonstrated
through their participation in the Subscription."
Total Voting Rights & Significant Shareholder
Disclosures
Following Admission, the issued share capital of the Company
will comprise 85,502,843 Ordinary Shares, with one voting right per
Ordinary Share. The Company does not hold any shares in treasury.
Therefore, the total number of Ordinary Shares and voting rights in
the Company is 85,502,843 .
Following Admission, the Significant Shareholders of the Company
will be as set out below. The Option Agreements have disclosable
holdings under the Disclosure Guidance & Transparency Rules and
are Significant Shareholders under the AQSE rules. An updated list
of Significant Shareholders (with Option defined as per the
announcement of 18 December 2020) is as follows:
Significant Subscription Total Ordinary % of Ordinary Shares Under % of Shares
Shareholder Shares Shares Held Shares Held Option Under Option
Held
Nistad Group
AS 0 12,500,000 14.62% 0 0.00%
------------- --------------- -------------- ------------- --------------
Stephen Bamford 20,000 9,145,000 10.70% 3,333,334 3.90%
------------- --------------- -------------- ------------- --------------
James Redman
Jr. 20,000 7,500,000 8.77% 3,333,334 3.90%
------------- --------------- -------------- ------------- --------------
Richard Leggatt 20,000 7,190,000 8.41% 3,333,334 3.90%
------------- --------------- -------------- ------------- --------------
Rodney Weinberg 20,000 6,617,661 7.74% 2,000,000 2.34%
------------- --------------- -------------- ------------- --------------
Angela Bravo
* 20,000 6,038,735 7.06% 3,333,334 3.90%
------------- --------------- -------------- ------------- --------------
Gary Bostock 20,000 5,074,058 5.93% 3,333,334 3.90%
------------- --------------- -------------- ------------- --------------
Beverley Shortt 0 2,875,001 3.36% 0 0.00%
------------- --------------- -------------- ------------- --------------
* Ms Bravo's holding includes 4,077,735 Ordinary Shares in the
name of Sungold Escrow Nominees Ltd, a company she controls, which
has entered into the Option Agreement, and 1,240,000 Ordinary
Shares she holds as bare trustee for her non-adult daughter .
Stephen Bamford who subscribed for 20,000 Subscription Shares is
a Related Party under the AQSE Growth Market Access Rules.
Enquiries:
SulNOx Group Plc
Tony Granger, Non-Executive tony.granger@sulnoxgroupplc.com
Chairman
AQSE Corporate Adviser :
Allenby Capital Limited
Nick Harriss / John Depasquale 020 3328 5656
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END
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