Business
Result of Placing
Result of Placing.
About this update from Earnz Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n\nTHIS ANNOUNCEMENT IS NOT AN OFFER TO SELL OR A SOLICITATION TO BUY SECURITIES IN THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA AND NEW ZEALAND OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL OR CONTRAVENE ANY REGISTRATION OR QUALIFICATION REQUIREMENTS UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH, ANY OFFER OR COMMITMENT WHATSOEVER IN ANY JURISDICTION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n9 August 2024\nEARNZ plc\n(\"EARNZ\" or the \"Company\")\nResult of Placing\nEARNZ plc (AIM: EARN), an AIM Rule 15 cash shell which is seeking acquisitions in the energy services sector, is pleased to announce that it has conditionally raised gross proceeds of approximately £2.05 million pursuant to a placing, conducted via the accelerated bookbuild process announced yesterday (the \"Placing\").\nConditionally, in aggregate, 27,351,450 new ordinary shares of 4p each in the Company (\"Ordinary Shares\") will therefore be issued pursuant to the Placing (the \"Placing Shares\") at an issue price of 7.5 pence per share (the \"Placing Price\"). The Placing comprises both an EIS and VCT Placing (raising gross proceeds of approximately £1.56 million) and and a Non-EIS and VCT Placing (raising gross proceeds of approximately £0.49 million).\nShore Capital Stockbrokers Limited (\"SCS\") and Zeus Capital Limited (\"Zeus\") acted as joint brokers and bookrunners in connection with the Placing.\nUnless the context provides otherwise, capitalised terms used in this announcement have the meanings given to them in the announcement of the proposed fundraising released on 8 August 2024.\nDirectors' participation in the Placing\nCertain of the Directors have subscribed for Placing Shares in the Placing, which, in aggregate, amo...