Business
Conditional Placing, Trading Update & AGM Notice
Conditional Placing, Trading Update & AGM Notice.
About this update from Oberon Investments Group Plc.
[{"type":"text","content":"\n\n \nThis announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Which is part of the United Kingdom domestic law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) (\"UK MAR\").\n Oberon Investments Group plc\n(\"Oberon\", or the \"Company\", or the \"Group\")\n \nConditional Placing to raise £2.5 million\n \nTrading Update and Notice of AGM\nQ1 revenue up over 90% year-on-year\n \nOberon Investments Group plc (AQSE: OBE), the boutique investment management, wealth planning and corporate broking group, announces that it has conditionally raised approximately £2.5 million before expenses, through a conditional placing (the \"Placing\") via Oberon Capital of 71,428,566 new ordinary shares of 0.5 pence each (the \"Placing Shares\") in the Company at a price of 3.5 pence per share (the \"Issue Price\").\n \nThe Placing was considerably oversubscribed and was supported by new and existing shareholders. The proceeds will support the expansion of the Company's key business divisions to accelerate growth across the Group as well as for working capital purposes.\n \nTrading Update\nOberon is a financial boutique comprising three divisions: Investment Management, Wealth Planning and Corporate Advisory & Broking. The Group has brought together several well-established teams with proven track records, experience and longevity.\n \nOberon has created a strong foundation and is now experiencing significant growth. On 26 July 2024 the Company announced its final results for the year ended 31 March 2024, reporting a 50% increase in revenue. \n \nSince the year end, momentum has continued:\n \n· Q1 FY25 revenue is up over 90% on the same period last year (Q1 FY25: £2.54m, Q1 FY24: £1.32m)\n· Each division, from Wealth management, Wealth Planning, Corporate Broking and Private Ventures is growing\n· Growth is expected to continue in FY25, with target revenue expanding by more than 30% on a like-for-like basis\n· The Directors believe we are beginning to see an upturn in the market which will positively impact all divisions\n \nNotice of Annual General Meeting and posting of Circular\nThe Company is expected to post the No...