This announcement contains inside information as defined in EU Regulation No. 596/2014 and is in accordance with the Company's obligations under Article 17 of that Regulation.
Nanoco Group PLC
Proposed fundraising of £8.6 million
Highlights:
•£8.6 million fundraise at 18 pence per share
•The Issue Price of 18 pence represents a discount of approximately 35.7 per cent. to the closing mid-market price of 28 pence per share on 3 October 2017, the latest practicable date prior to the date of this announcement
•Agreed subscription by LOAM funds for the full £8.6 million
•LOAM funds subscription subject to 50 per cent. scale back
•Scaled-back shares to be offered to institutional investors by way of an accelerated bookbuild (conducted by Peel Hunt), which will open with immediate effect, and to Directors and senior management by way of direct subscription with the Company
•Directors and senior management have committed to subscribe for up to 1,281,505 shares (subject to scale-back depending on demand in the ABB), resulting in a maximum subscription by LOAM funds of £8.3 million
•Fundraising conditional upon, amongst other things, shareholder approval
•Proceeds of the Fundraise to be used to allow the Group to retain its existing manufacturing facility at Runcorn, improve the efficiency of its operations and deliver the business plan
•Fundraising to fund the Company beyond July 2019
Michael Edelman, Chief Executive Officer, commented:
"I am delighted we are set to secure the funding which will fully support the Company as we commercialise our technology and take advantage of large and growing market opportunities.
The Board appreciates the patience of shareholders and has worked hard to secure the terms of this important fundraising, which we believe to be in the best interests of the Company and its shareholders as a whole.
We are greatly encouraged by the support of our existing investors, their confidence in Nanoco's strategy and recognition of the immense potential of our technology."
Nanoco Group PLC
Proposed fundraising of £8.6 million
Highlights:
•£8.6 million fundraise at 18 pence per share
•The Issue Price of 18 pence represents a discount of approximately 35.7 per cent. to the closing mid-market price of 28 pence per share on 3 October 2017, the latest practicable date prior to the date of this announcement
•Agreed subscription by LOAM funds for the full £8.6 million
•LOAM funds subscription subject to 50 per cent. scale back
•Scaled-back shares to be offered to institutional investors by way of an accelerated bookbuild (conducted by Peel Hunt), which will open with immediate effect, and to Directors and senior management by way of direct subscription with the Company
•Directors and senior management have committed to subscribe for up to 1,281,505 shares (subject to scale-back depending on demand in the ABB), resulting in a maximum subscription by LOAM funds of £8.3 million
•Fundraising conditional upon, amongst other things, shareholder approval
•Proceeds of the Fundraise to be used to allow the Group to retain its existing manufacturing facility at Runcorn, improve the efficiency of its operations and deliver the business plan
•Fundraising to fund the Company beyond July 2019
Michael Edelman, Chief Executive Officer, commented:
"I am delighted we are set to secure the funding which will fully support the Company as we commercialise our technology and take advantage of large and growing market opportunities.
The Board appreciates the patience of shareholders and has worked hard to secure the terms of this important fundraising, which we believe to be in the best interests of the Company and its shareholders as a whole.
We are greatly encouraged by the support of our existing investors, their confidence in Nanoco's strategy and recognition of the immense potential of our technology."
