Business
Directors’ Subscription and Loan Note Conversion
Directors’ Subscription and Loan Note Conversion.
About this update from Plexus Holdings
[{"type":"text","content":"\n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n \n31 March 2025\n\nPlexus Holdings PLC\n('Plexus' or 'the Company')\n \nDirectors' Subscription\nand Loan Note Conversion\n \nPlexus Holdings PLC, the AIM-traded wellhead services business, is pleased to confirm that, further to the Company's announcement on 19 March 2025 regarding the proposed Fundraising, and following publication of the Company's Interim Results on 28 March 2025, Ben van Bilderbeek, Anastasio van Bilderbeek, Thrall Enterprises Inc., OFM Investments Limited, Craig Hendrie and Mike Park have subscribed for a total of 30,246,151 New Ordinary Shares at the Issue Price of 6.5 pence each pursuant to the Subscription to raise a total of £2.0 million for the Company.\n \nThe Fundraise, comprising the Placing, Subscription and Retail Offer, will therefore raise gross proceeds of £3.5 million for Plexus.\n \nThe Company also confirms that the Noteholder Majority has proceeded with its intention to convert the principal amount and the interest accrued on the Outstanding Convertible Loan Notes until 7 April 2025 (being the latest practicable date prior to the date of Admission) into 13,461,692 Conversion Shares at the Conversion Price.\n \nSubject to shareholder approval being obtained for the Fundraising at the Company's general meeting to be held on 7 April 2025, and admission of the New Ordinary Shares to trading on AIM, the interests of the Subscriber Directors will be as follows.\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\nPercentage of Enlarged Share Capital following\nproposed\n\n\n\n\nName\n\n\nTitle\n\n\nNumber of Existing Ordinary Shares*\n\n\nNumber of Conversion Shares\n \n \n\n\nNumber of Subscription Shares\n\n\nValue of Subscription Shares\n\n\nResulting shareholding following proposed transaction\n\n\ntransaction\n \n\n\n\n\nBen van Bilderbeek¹\n\n\nNon-Executive Chair\n\n\n58,077,461\n\n\n12,500,154\n\n\n23,169,230\n\n\n£1,506,000\n\n\n93,746,845\n\n\n54.29%\n\n\n\n\nJeffrey Thrall²\n\n\nNon-Executive Director\n\n\n44,307,513\n\n\n961,538\n\n\n4,615,384\n\n\n£300,000\n\n\n49,884,435\n\n\n28.89%\n\n\n\n\nCraig Hendrie\n\n\nDirector\n\n\n12,600\n\n\n-\n\n\n461,538\n\n\n£30,000\n\n\n474,138\n\n\n0.27%\n\n\n\n\nMike Par...