Quadrise Plc Initiates Retail Offer for Funding
Quadrise Plc (AIM:QED), a prominent provider of alternative energy solutions, is embarking on an exciting initiative to raise up to £1 million through a newly launched retail offer. This strategic move, geared towards its existing retail shareholders in the region, allows investors to acquire new ordinary shares at a competitive price of 3 pence per share.
Details of the Retail Offer
Following a successful conditional fundraising effort that yielded £4.53 million through a placing and director subscription, Quadrise is now extending this unique opportunity exclusively to its retail shareholder base. The current retail offer comprises up to 33,333,333 shares, and there's a possibility of increasing this number if demand exceeds expectations.
Use of Proceeds from the Offer
The funds raised from this retail offer are specifically allocated for critical activities including product and business development, essential equipment purchases, and strengthening the company’s balance sheet. This decision comes after a recent annual general meeting where shareholders granted extensive authorities regarding share allotments and the disapplication of pre-emption rights.
Trading Information for Retail Offer Shares
This retail offer operates independently from the earlier share placing and subscription and hinges upon the successful completion of those transactions. Furthermore, it is linked with the upcoming admission of these retail offer shares to the trading platform on the AIM market, managed by the London Stock Exchange (LON:LSEG). The anticipated start of trading for these shares is set for 8:00 a.m. on a future date, which is subject to confirmation among involved parties.
How Retail Shareholders Can Participate
Retail shareholders keen on seizing this opportunity can engage through recognized financial intermediaries identified on a dedicated online platform. The role of Shore Capital Stockbrokers Limited as the retail offer coordinator significantly underscores the importance of having intermediaries registered on the BookBuild platform for participation.
Timeline for the Retail Offer
The retail offer commenced at 7:05 a.m. on an announced date and is expected to wrap up by 4:30 p.m. on another set date unless there is substantial oversubscription, prompting an early closure. It’s essential for investors to check with their intermediaries regarding specific closing times, and any applicable commissions, fees, or expenses.
Frequently Asked Questions
What is the purpose of Quadrise's retail offer?
The retail offer aims to raise funds for product development, business growth, and equipment purchases.
At what price are shares being offered?
The shares are priced at 3 pence each for existing retail shareholders.
Who can participate in the retail offer?
The offer is exclusively available to existing retail shareholders of Quadrise Plc.
When did the retail offer open and close?
The retail offer opened at 7:05 a.m. on January 24, 2025, and will close on January 30, 2025, unless oversubscribed.
Who is coordinating the retail offer?
Shore Capital Stockbrokers Limited is acting as the retail offer coordinator for Quadrise Plc.
