Business
£1.35m Fundraise and Director Participation
£1.35m Fundraise and Director Participation.
About this update from Alkemy Capital Investments Plc
[{"type":"text","content":"\n\n \nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n31 May 2023\n \nAlkemy Capital Investments Plc\n \n£1.35m Fundraise and Director Participation\n \nAlkemy Capital Investments plc (\"Alkemy\") (ALK:LSE) (JV2:FRA) is pleased to announce that it has completed a £1.35 million fundraise (the \"Fundraise\"). As part of this Alkemy has conditionally placed 657,711 ordinary shares (the \"Placing Shares\") at a placing price of £1.40 each (the \"Placing Price\") to raise gross proceeds of c.£921,000 (the \"Placing\"), including a £10,000 participation by Alkemy director Helen Pein. Whilst legally restricted from participating directly in the Placing at this time, Paul Atherley and Sam Quinn have also agreed to contribute though the advance of unsecured, interest free loans of £430,000 in aggregate, with such amounts expected to be applied to subscribe for new shares at the Placing Price as soon as legally permissible as set out below.\nThe net proceeds of the Fundraise will be used to continue to advance the Company's projects and will provide sufficient working capital for the Company over the next twelve months. The Company continues to advance discussions and negotiations with counterparties for lithium feedstock. The major shareholders of the Company have also committed to provide any additional working capital that may be required by the Company to enable it to reach this significant milestone.\nThe Directors of Alkemy have together contributed to the Fundraise in the amount of £440,000, with Helen Pein participating in the amount of £10,000 in the Placing. Paul Atherley and Sam Quinn have also both contributed in the amounts of £330,000 and £100,000, respectively, however they are members of a concert party under the City Code on Takeovers and Mergers (the \"Takeover Code\") (which in aggregate currently holds 49.49% of the Company's issued share capital) and therefore their direct participation in the Placing would have triggered a m...