Business
Placing to raise £925,000
Placing to raise £925,000.
About this update from Mindflair Plc
[{"type":"text","content":"\n\n24 July 2024\n \nMindflair plc\n \n(\"Mindflair\" or the \"Company\")\n \n \nPlacing to raise £925,000\n \n \nMindflair plc (AIM: MFAI), the company investing in next generation technology focused on AI, announces that it has raised gross proceeds of £925,000 (the \"Placing\") through the issue of 92,500,000 new ordinary shares of 0.25 pence in the Company (the \"Placing Shares\") at a price of 1.0 pence per share (the \"Placing Price\").\n \nThe Placing Price represents a 15% discount to the closing mid-market price of 1.175 pence on 23 July 2024. \n \nBackground to the Placing\n \nThe Company is seeing a rise in new opportunities and accordingly, the Board emphasises the importance of maintaining available funds for both general working capital purposes and to capitalise on these investment prospects promptly.\n \nThe Placing was arranged by Shard Capital Partners LLP.\n \nAdmission\n \nApplication will be made to the London Stock Exchange to admit the Placing Shares to trading on AIM (\"Admission\"). Admission of the new ordinary shares is expected to occur on or around 1 August 2024. The Placing Shares will rank pari passu with the existing ordinary shares.\n \n \nTotal Voting Rights\n \nFor the purpose of the Disclosure and Transparency Rules, following Admission, the enlarged issued share capital of the Company will comprise 366,756,642 ordinary shares of 0.25 pence each. The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.\n \nNicholas Lee, Director of Mindflair, commented:\n \n\"We believe that this is a very exciting time for the Company with a number of interesting developments taking place within our portfolio of AI technology companies. We are also seeing a number of attractive investment opportunities which we believe it makes sense to be in a position to take advantage of.\"\n \nThis announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement. The person who arranged for the release of this ...