12:45 Thu 06 Feb 2020
Tekcapital plc - Placing to raise £740,000
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a
("
Placing to raise
Key Highlights:
· Placing of 14,800,000 New Ordinary Shares at
· Proceeds are expected to be used to further develop the commercialisation of the Company's portfolio of IP technologies, strengthen its balance sheet and for working capital requirements.
Use of proceeds
The Company will use the additional proceeds of the Placing to fund investment in key activities and to further develop and progress with the commercialisation of its portfolio of IP technologies, to strengthen its balance sheet and for working capital requirements.
Details of the Placing
SP Angel is acting as the Company's nominated adviser and joint broker with
The Placing is subject to certain Terms and Conditions. The Placing is not underwritten.
The Placing comprises 14,800,000 New Ordinary Shares. The New Ordinary Shares have been placed at the Placing Price with new investors. The Placing as a whole will raise proceeds of
The New Ordinary Shares will be in registered form and capable of being held in certificated form or uncertificated form in CREST. The Placing is conditional upon the Placing Agreement becoming unconditional and Admission by no later than
Application for Admission
Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Admission is expected to become effective on or around
"We are pleased to announce this financing round which we believe will accelerate the progress of our portfolio companies and create significant additional value for our investors."
About
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
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+1 305-200-3450 |
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+44 (0) 20 3470 0470 |
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+44 (0) 20 7399 9427 |
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+44 (0) 20 7129 1474 |
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