SulNOx Group PLC Subscription for New Shares & Holding in Company (8222P)
11 Oktober 2023 - 2:36PM
UK Regulatory
TIDMSNOX
RNS Number : 8222P
SulNOx Group PLC
11 October 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019/310
11 October 2023
SulNOx Group Plc (the "Company" or "SulNOx")
Subscription for New Shares
Holding in the Company
(Aquis Stock Exchange: SNOX)
The board of directors of the Company (the "Board") is pleased
to announce that Nistadgruppen AS ("Nistad"), an existing
substantial shareholder, has agreed to subscribe for 3,111,111 new
ordinary shares of 2 pence each ("Ordinary Shares") at a price of
22.5 pence per Ordinary Share (representing a discount of 7.4% to
the average closing price of the Ordinary Shares for the last 5
trading days of 24.3p) to raise a total of GBP700,000, before
expenses (the "Subscription"). It is expected that the funds raised
under the Subscription will be utilised for general working capital
purposes.
The new Ordinary Shares will be allotted under the Company's
existing unspent share issue authorities and are expected to be
admitted to trading on the AQSE Growth Market on 17 October 2023
("Admission"). On Admission, the Company will have 113,224,386
Ordinary Shares in issue, each with one voting right. The Company
does not hold any shares in treasury and therefore the total number
of voting rights in the Company is 113,224,386. This figure should
be used by shareholders from Admission 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 FCA's Disclosure Guidance and Transparency
Rules.
Including Ordinary Shares already held, Nistad will hold a total
of 16,306,763 Ordinary Shares on Admission, equivalent to 14.40% of
the Ordinary Shares, as enlarged by the Subscription. As Nistad has
an existing interest in more than 10% of the Company's Ordinary
Shares, the constitute a related party transaction under the AQSE
Growth Market Apex Rules. The Board has concluded, having exercised
reasonable care, skill and diligence, that the Subscription is fair
and reasonable as far as the shareholders of the Company are
concerned.
Radu Florescu, Chairman of SulNOx, commented, "I am delighted
that Nistad have continued to show their confidence in the Company,
its products and strategic direction, and shown this confidence in
such a tangible fashion."
- 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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