Business
Update on Funding
Directa Plus plc is in advanced discussions for an up to £2.5m funding facility to extend its cash runway, with no certainty of conclusion, and has failed to conclude discussions with Nant Capital for a non-dilutive loan. Without additional funding, the company and group are highly likely to cease being a going concern, potentially leading to administration. The group closed FY25 with €1.5m gross cash, providing runway into early May 2026, necessitating this funding. The company is also progressing the potential sale of non-strategic land in Romania, valued at least at €0.5m, and evaluating options for its subsidiary Setcar SA, including disposal, while continuing cost reduction initiatives across its operations. Disclaimer*
About this update from Directa Plus Plc
[{"type":"text","content":"\n\nThe information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n30 March 2026\n \nDirecta Plus plc\n(\"Directa Plus\", the \"Group\" or the \"Company\")\n \nUpdate on Funding\n \nDirecta Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets announces that it is in advanced discussions with an institutional investor for the provision of an up to £2.5m funding facility (\"Proposed Facility\") to extend the Company's cash runway. At this time there can be no certainty that any funding transaction will be concluded.\n \nFurther to the notification of 27 February 2026, the Company has not been able to conclude its discussions with Nant Capital, LLC with regards to the terms of a non-dilutive potential loan (the \"Potential Loan\").\n \nThe Proposed Facility would be subject to shareholder approval and if no additional funding is secured, it is highly likely that this will result in the Company and the Group not being a going concern and the Directors having to take steps to place the Company into administration.\n \nAs announced on 7 January 2026, the Group closed FY25 with gross cash balances of €1.5m (FY24: €4.98m), which provided an effective cash runaway into early May 2026 and therefore needed to secure additional funding in FY26 to support the business, hence the discussions regarding the Potential Loan and the Proposed Facility.\n \nThe Board is continuing to progress both the potential sale of non-strategic land held by its Romanian subsidiary Setcar SA, with an estimated value of at least €0.5m, as well as evaluating options for the business, including Setcar's disposal. The Board is continuing to implement the previously announced cost containment and cost reduction initiatives, including its workforce reduction programme at Setcar. The Italian company, Directa Plus SpA continues its costs reduction actions.\n&nb...