Business
Proposed Placing & Subscription and Notice of GM
Eco Buildings Group plc has conditionally raised £2.35 million in gross proceeds through a placing and subscription of new ordinary shares at 12 pence per share, with net proceeds of approximately £2.2 million intended for a second GFRG manufacturing line in Albania and general working capital. The company will also issue warrants to placees and its broker. The fundraise is contingent on shareholder approval at a general meeting to grant new authorities to allot shares and disapply pre-emption rights, with admission expected on or around June 5, 2026. The enlarged issued share capital will be 140,987,383 ordinary shares. Disclaimer*
About this update from Eco Buildings Group Plc
[{"type":"text","content":"\n\nThis Announcement contains inside information for the purposes of Article 7 of the UK version of the Market Abuse Regulation (Regulation (EU) No 596/2014) as it forms part of UK domestic law pursuant to the European Union (Withdrawal) Act 2018 (\"UK MAR\"). With the publication of this Announcement, this information is now considered to be in the public domain.\n19 May 2026\nEco Buildings Group plc\n(\"Eco Buildings\" or the \"Company\")\nProposed Placing and Subscription and Notice of General Meeting\nEco Buildings Group plc (AIM: ECOB) is pleased to announce that it has conditionally raised gross proceeds of £2,350,000 through the placing of 18,333,329 new Ordinary Shares (the \"Placing Shares\") and the subscription of 1,250,000 new Ordinary Shares (\"Subscription Shares\") both at a price of 12 pence per share (the \"Placing Price\") (together the \"Fundraise\"), through its broker Tavira Financial Limited (\"Tavira\"). The Fundraise is conditional, inter alia, on the passing of certain resolutions at a general meeting of the Company referred to below.\nUse of Funds\nThe net proceeds of approximately £2.2 million will be used to fund the installation of a second GFRG manufacturing line in the Company's factory in Albania and for general working capital. The manufacturing line is expected to be installed within three to four months and to be operational immediately thereafter, allowing the Company to execute on its increasing order book in Albania as outlined in the recent announcement regarding the Balfin Group.\nWarrants\nIn connection with the Fundraise, the Company has agreed to issue 9,791,664 warrants over new ordinary shares to placees, on the basis of one warrant for every two Fundraise Shares (the \"Investor Warrants\"). The Investor Warrants will be exercisable at 22 pence per ordinary share for a period of two years from Admission.\nIn addition, the Company has agreed to issue 1,100,000 warrants to Tavira (the \"Broker Warrants\" and, together with the Investor Warrants, the \"Warrants\"), exercisable at 12 pence per ordinary share for a period of two years from Admission.\nConditionality of the Placing and Subscription\nThe Fundraise is conditional, inter alia, upon:\n(i) the placing agreement entered into between the Company and Tavira dated 19 May 2026 (the \"Placing Agreement\") not having...