Business
Results of Placing and Subscription
Results of Placing and Subscription.
About this update from Molten Ventures Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED, AND IS NOT FOR PUBLICATION, TRANSMISSION, RELEASE, DISTRIBUTION OR FORWARDING, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE REPUBLIC OF IRELAND) OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT HAS BEEN ISSUED BY AND IS THE SOLE RESPONSIBILITY OF THE COMPANY. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n27 November 2023\nMolten Ventures plc\n(\"Molten Ventures\" or the \"Company\")\nResults of Placing and Subscription\nMolten Ventures plc (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, is pleased to announce the successful completion of its non pre-emptive Placing and Subscription raising gross proceeds of £55.0 million, following strong demand from new and existing shareholders.\nA total of 20,370,370 New Ordinary Shares have been subscribed for at a price of 270 pence (the \"Issue Price\") pursuant to the Placing and Subscription, representing approximately 13.3 per cent. of the Company's existing issued share capital. The Issue Price represents a discount of approximately 3.4 per cent. to the Company's closing mid-market price of 279.6 pence on 24 November 2023.\nThe following Directors of the Company subscribed for the following number of Placing Shares at the Issue Price:\n\n\n\n\nName\n\n\nPosition\n\n\nNo. of Placing Shares\n\n\nOrdinary Shares held following Admission\n\n\n\n\nMartin Davis\n\n\nChief Executive Officer\n\n\n10,000\n\n\n81,836\n\n\n\n\nBen Wilkinson\n\n\nChief Financial Officer\n\n\n10,000\n\n\n39,126\n\n\n\n\nIncoming Chairman, Laurence Hollingworth, subscribed for 18,518 Placing Shares at the Issue Price.\nThe Retail Offer remains open and is expected to close at 3.00 p.m. on 28 November 2023. The latest time for applications under the Offer for Subscription is 11.00 a.m. on 12 December 2023. Separate announcements will be made regarding the results of the Retail Offer and the Offer for Subscription respectively shortly after they close.\nThe Issue is...