Business
Placing to Raise £500,000, Total Voting Rights
Placing to Raise £500,000, Total Voting Rights.
About this update from Zenova Group Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 (\"MAR\") WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN\n31 May 2023\nZenova Group PLC\n(\"Zenova\", the \"Company\" or the \"Group\")\n \nPlacing to Raise £500,000, Total Voting Rights\n \nZenova Group PLC (AIM: ZED), a provider of innovative fire safety and heat management technology and products, is pleased to announce that it has raised gross proceeds of £500,000 by way of a placing of 12,500,000 ordinary shares at four pence (4p) each (\"the Placing\"). The proceeds of the Placing will provide general working capital as the Company continues to implement its growth strategy.\n \nOn receipt of the net proceeds of the Placing, the Company will have cash resources of approximately £0.7 million. In addition, as detailed in the Final Results announcement earlier today, the Company has available a £350,000 working capital loan under which no funds have been drawn down.\n \nAdmission and Total Voting Rights\n \nApplication will be made to the London Stock Exchange for the admission of the 12,500,000 new ordinary shares to trading on AIM (\"Admission\"). Admission is expected to occur at 8.00 a.m. on or around 6 June 2023.\n \nFollowing Admission, the total number of voting rights in the Company will be 105,884,053. As the Company holds no shares in treasury, this figure can 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 Rules.\n \nTony Crawley, Chief Executive of Zenova Group plc commented: \"We are pleased to have secured additional funding to provide working capital as we continue our focus on sales growth over the next twelve months and beyond.\"\n \nFor further information please contact:\n\n\n\nZenova Group PLC\n\n\n\n\nTony Crawley, Chief Executive Officer\nDon Nicolson, Executive Chairman\n \n\n\nVia Orana Corporate LLP:\nAnthony Eastman\nTel: +44 20 3475 6834\n \n\n\n\n\nSPARK Advisory Partners Limited (Nominated A...