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Itaconix PLC - Result of General Meeting

RNS Number : 9713S
Itaconix PLC
14 July 2020



Itaconix plc 

("Itaconix" or the "Company") 

Result of US Additional Subscription, Result of General Meeting, Issue of Equity and Total Voting Rights

Itaconix plc (LSE:ITX) (OTCQB:ITXXF)  is pleased to announce that all resolutions were duly passed at the General Meeting held earlier today at 11.30 a.m. (UK time) in connection with the Fundraising announced by the Company on 23 June 2020. The Company also announces that £36,500 has been raised pursuant to the US Additional Subscription.

Accordingly, the Company has raised, in aggregate, gross proceeds of approximately £1.8 million pursuant to the Fundraising.

John R. Shaw, CEO of Itaconix, stated: "I appreciate the support of our existing shareholders and welcome new shareholders on our mission to deliver next generation consumer products based on our bio-based ingredients that are safer, have better performance, and are more sustainable.  As we gain commercial momentum in key markets, completion of the Fundraising opens a new phase in the Company's growth. I look forward to updating the market on our progress."

Issue of Equity and Total Voting Rights 

A total of 151,769,048 new Ordinary Shares are therefore being issued and allotted, comprising 138,266,775 Second Placing Shares, 10,184,091 Subscription Shares and 3,318,182 US Additional Subscription Shares. Application has been made to the London Stock Exchange for the Second Placing Shares, the Subscription Shares and the US Additional Subscription Shares, all of which are being credited as fully paid and will be identical to and rank pari passu in all respects with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings will commence at 8.00 a.m. on 15 July 2020.

Following Admission, the issued share capital of the Company will consist of 432,448,253 Ordinary Shares, with one voting right each. The above figures may be used by shareholders in the Company, following completion of the Fundraising 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement shall, unless otherwise stated, bear the same meaning ascribed to such terms in the announcement made by the Company on 23 June 2020 to announce the launch of the Fundraising.

Itaconix Plc

+1 (603) 775 4400

John R. Shaw, Chief Executive Officer

Laura Denner, Chief Financial Officer and Company Secretary


N+1 Singer (Nominated Adviser and Joint Broker)

+44 (0) 207 496 3000

Peter Steel / James Moat

Tom Salvesen

Allenby Capital Limited (Joint Broker - Placing)

+44 (0) 203 328 5656

Amrit Nahal (Broking)

Nick Athanas / Liz Kirchner (Corporate Finance)


About Itaconix

Itaconix plc is a leading innovator in bio-based functional ingredients for improving the safety and performance of homecare, personal care, and industrial products. Its proprietary polymer technology generates a growing range of new ingredients with unique functionality that meet consumer demands for value and sustainability.    


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Quick facts: Itaconix PLC

Price: 1.65

Market: LSE
Market Cap: £7.14 m

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on 26/7/20