SulNOx Group PLC Consultancy Agreement & Proposed Subscription (0998E)
27 Juni 2023 - 6:00PM
UK Regulatory
TIDMSNOX
RNS Number : 0998E
SulNOx Group PLC
27 June 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310
27 June 2023
SulNOx Group Plc (the "Company" or "SulNOx")
Proposed Fundraising
(Aquis Stock Exchange: SNOX)
The board of directors of the Company (the "Board") is pleased
to announce that it is in the process of finalising an agreement
(the "Proposed Agreement") with a new strategic investor (the
"Investor") pursuant to which the Investor would agree to subscribe
for new ordinary shares of 2 pence each ("Ordinary Shares") at a
price of 9.5 pence per share (representing a small discount to the
closing price per SulNOx share of 11 pence on 26 June 2023 (the
"Closing Price")). It is expected that the funds raised under the
Proposed Agreement would be utilised for general working capital
purposes.
Separately, the Investor has joined the Company in a consultancy
role (the "Consultancy"), as part of which, it is anticipated that
the Company will grant options to subscribe for new Ordinary Shares
at a price of 10 pence per share (again, representing a small
discount to the Closing Price).
The anticipated Ordinary Shares to be allotted under the
Proposed Agreement and options granted under the Consultancy will
utilise SulNOx's existing unspent share issue authorities.
The Board hopes to finalise the Proposed Agreement within the
next week and a further announcement will be made in due
course.
- Ends -
For further information please contact:
SulNOx Group plc Tel: 07624 491 821
Steven Cowin, CFO
Allenby Capital Limited Tel: 020 3328 5656
(AQSE Corporate Adviser)
Nick Harriss / John Depasquale
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END
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