Business
PrimaryBid.com Offer
PrimaryBid.com Offer.
About this update from Nanoco Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 1337T\n Nanoco Group PLC\n 15 July 2020\n \n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.\n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.\n \n \n THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (\"FSMA\") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)\n \n \n \n \n \n 15 July 2020\n \n \n \n \n \n Nanoco Group plc\n \n \n (\"Nanoco\" or the \"\n \n Company\n \n \"\n ) (LON:NANO)\n \n \n PrimaryBid.com Offer\n \n \n \n \n \n Nanoco Group plc \n (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other specific nanomaterials emanating from its technology platform, \n is pleased to announce an offer for subscription via PrimaryBid (the \"PrimaryBidOffer\") of new ordinary shares of 10p each in the Company (\"New Ordinary Shares\") at an issue price of 17.5 pence per New Ordinary Share (the \"Issue Price\"), being a discount of 2.8% per cent to the closing mid-price on 15 July 2020 as announced earlier on 15 July 2020 .\n \n \n The PrimaryBid Offer is conditional on \n the new Ordinary Shares to be issued pursuant to the PrimaryBid Offer being admitted to listing on the Official List by the Financial Conduct Authority and to trading by the London Stock Exchange on its main market for listed securities (\"Admission\"). Admission is expected to be take place at 8.00 a.m. on 20 July 2020. \n \n \n The net proceeds of the Fundraising will be used to extend the Company's cash runway at least to the end of calendar year 2021 while supporting its core IP assets and its business operations during the ongoing lawsuit against Samsung. \n \n \n The Company's largest shareholder, Lombard Odier, has undertaken to subscribe for £2.14m of New Ordinary Shares on the same terms as those set out above, which subscription shall be subject to claw back depending on the amount of the other aggregate applications received from other investo...