Business
Update on Funding and Board change
Directa Plus plc is in advanced discussions for a €4 million non-dilutive loan from Nant Capital, LLC to support future growth, and is evaluating the sale of non-strategic land held by Setcar with an estimated value of at least €0.5 million. Setcar's cost reduction initiatives, including workforce reductions expected to be completed by mid-2026, are anticipated to save approximately €0.5 million for FY 2026, while additional cost-saving actions in Italy are projected to reduce yearly recurring costs by €0.15 million from April 2026. Furthermore, Chief Financial Officer Giorgio Bonfanti will step down at the end of March, with a UK-based interim CFO to be appointed. Disclaimer*
About this update from Directa Plus Plc
[{"type":"text","content":"\n\n27 February 2026\nDirecta Plus plc\n(\"Directa Plus\", the \"Group\" or the \"Company\")\n \nUpdate on Funding and Board change\n \nDirecta Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, provides a further update following the Company's full year trading update announced on 7 January 2026.\n \nThe Board is in advanced discussions with its long-standing substantial shareholder, Nant Capital, LLC, with regards to the terms of a non-dilutive potential loan (the \"Potential Loan\"), with a principal amount of €4 million.\n \nAs previously announced, the Company will need to secure additional funding to support future growth plans, hence the discussions regarding the Potential Loan. In addition, and as also highlighted in the January trading update, the Board is evaluating its strategy for Setcar, with a focus on improving overall capital allocation and how best to maximise shareholder value. As part of this process, the Company has made initial progress regarding the potential sale of non-strategic land held by Setcar, with an estimated value of at least €0.5m. Setcar is continuing to implement its cost containment and cost reduction initiatives, including its workforce reduction programme, which is expected to be completed by mid-2026 reaffirming anticipated cost savings of approximately €0.5m for FY 2026.\n \nThe Italian company has also approved a number of costs reduction actions aimed at reducing yearly recurring costs by approximately €0.15m, with initial effect from April 2026.\n \nBoard update\n \nGiorgio Bonfanti, the Company's Chief Financial Officer, has informed the Board of his intention to step down as a director of the Company, to pursue a new business opportunity, and will leave the Group at the end of March. The Board has commenced a recruitment process for a permanent replacement and in the meantime, a UK based finance professional with AIM experience will act as interim CFO.\n \nGiulio Cesareo, Chief Executive Officer at Directa Plus, said: \"I would like to thank Giorgio for his huge contribution to the Group over the past five years, including his support restructuring the business for its next phase of growth, and wish him all the very best for the future. I look forward to providi...