Business
Result of REX Retail Offer
Result of REX Retail Offer.
About this update from Avacta Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR WITHIN THE UNITED STATES OR THE DISTRICT OF COLUMBIA (COLLECTIVELY THE \"UNITED STATES\"), AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN, OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (THE \"EEA\"), OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF AVACTA GROUP PLC.\n \n5 March 2024\n \nAvacta Group plc\n \n(\"Avacta\" or the \"Company\")\n \nResult of REX Retail Offer\n \nFurther to the announcement on 29 February 2024, in which the results of the Firm Placing, Conditional Placing and the Direct Subscription were confirmed, Avacta is pleased to announce that it will, subject to shareholder approval at the General Meeting to be convened at 11.00 a.m. on 18 March 2024, issue 10,896,948 Ordinary Shares at a price of 50 pence per Ordinary Share in connection with the REX Offer.\n \nThe REX Offer was limited to an aggregate value of £6.8 million and received total applications in excess of this amount. Avacta has determined only to allocate REX Offer Shares to existing Avacta retail shareholders and therefore a total of approximately £5.4 million (equating to 10,896,948 REX Offer Shares) is expected to be raised pursuant to the REX Retail Offer.\n \nConsequently, 27,520,485 Ordinary Shares have been issued in connection with the Firm Placing and Direct Subscription and, conditional on shareholder approval at the General Meeting to be convened at 11.00 a.m. on 18 March 2024, 34,776,072 Ordinary Shares will be issued in connection with the REX Offer and the Conditional Placing, resulting in a total of 62,296,557 new Ordinary Shares being issued in the Firm Placing, Conditional Placing, Direct Subscription and REX Offer, raising total gross proceeds of circa. £31.1 million. Application will be made for the REX Offer Shares to be admitted to trading on AIM.\n \nThe Conditional Placing and the REX Offer are conditional on, among...