Business
Company Raises £560,000
Company Raises £560,000.
About this update from Chill Brands Group Plc
[{"type":"text","content":"\n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.\n \n \n \n \n 16 March 2023\n \n \n \n \n Chill Brands Group plc\n \n \n \n \n (\"Chill Brands\"\n \n or the \"Company\")\n \n \n \n \n \n \n \n \n Company Raises £560,000\n \n \n \n Chill Brands Group, the international consumer packaged goods company, is pleased to announce that it has raised £560,000 (before expenses) from a financial institution (the \"Fundraise\").\n \n \n The Fundraise, which followed the receipt of an unsolicited offer from the financial institution concerned, consists of a subscription for 16,000,000 new ordinary shares of 1 pence each (\"Ordinary Shares\") at a price of 3.5 pence (the \"Issue Price\") per share (the \"New Shares\"). The Issue Price represents a discount of 12.5 per cent to the previous day closing price of 4.00 pence on 15 March 2023, being the last practicable date prior to the publication of this announcement.\n \n \n The funds will be deployed to expand the marketing and distribution of the Company's new range of nicotine-free disposable vapour products. They will also be used to establish new systems that will better facilitate the onboarding and management of new products joining the Chill.com product marketplace following strong demand from third-party brands.\n \n \n \n Admission and Total Voting Rights\n \n \n \n The New Shares will be issued and an application will be made for the New Shares to be admitted to trading on the Main Market of the London Stock Exchange and to listing in the Standard Segment of the Financial Conduct Authority (\"FCA\") Official list, with effect from 22 March 2023 (\"Admission\").\n \n \n On Admission, the Company will have 261,115,305 Ordinary Shares in issue, each with one voting right. There are no shares held in treasury. Therefore, the Company's total number of Ordinary Shares and voting rights will be 261,115,305 and this figure may be used by shareholders from Admission 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 Company under the FCA's Disclosure Guidance and Transparency Rules. \n \n \n -ENDS-\n \n \n \n About Chill Brands Group\n \n \n \n Chill Bra...