Business
Placing, Subscription, Open Offer and Notice of GM
Placing, Subscription, Open Offer and Notice of GM.
About this update from Kromek Group Plc
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under The Market Abuse Regulation (EU 596/2014) pursuant to the Market Abuse (Amendment) (EU Exit) Regulations 2018. Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\nNot for publication, distribution or release directly or indirectly, in whole or in part, in or into the United States of America, Canada, Russia, Australia, Japan, the Republic of Ireland, the Republic of South Africa, New Zealand, Cayman Islands, Barbados, Switzerland, the State of Kuwait or Singapore in or into any other jurisdiction where offers or sales would be prohibited by applicable law. This announcement is for information purposes only and is not an offer to sell or a solicitation to buy securities in Kromek Group plc or any other entity in any jurisdiction, including the United States of America, Canada, Russia, Australia, Japan, the Republic of Ireland, the Republic of South Africa, New Zealand, Cayman Islands, Barbados, Switzerland, the State of Kuwait or Singapore.\n \nKromek Group plc\n(\"Kromek\", the \"Company\" or the \"Group\")\n \nPlacing, Subscription and Open Offer to raise up to £8 million\nand\nNotice of General Meeting\n \nKromek (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, is pleased to announce a conditional Placing, Subscription and Open Offer to raise up to £8 million before expenses. The Placing has been undertaken with new and existing institutional investors in the Company. Kromek Directors are participating in the Placing and Directors' Subscription.\nHighlights\n· Proposed Placing and Subscription to raise £7 million through the issue of 140,000,000 Placing Shares to new and existing investors at 5 pence per Placing Share\n· Proposed Open Offer to raise up to approximately £1 million through the issue of up to 20,564,372 Open Offer Shares to Qualifying Shareholders at 5 pence per Open Offer Share\n· The net proceeds of the Transaction will be used for development and working ca...