Business
Result of Retail Offer and Update on Timing
Maintel Holdings Plc announced the successful closure of its Retail Offer, raising approximately £0.5 million through the issuance of 619,545 Retail Offer Shares at 80 pence each. This brings the total gross proceeds from the Fundraising to approximately £5.5 million. The company is actively engaged in refinancing discussions, but the completion timing for this and the subsequent Admission of shares to AIM, expected by 30 June 2026, remains uncertain. If admission conditions are not met by this date, the Fundraising will not proceed. The net proceeds are earmarked for strengthening the balance sheet, supporting new projects, and funding the company's Transformation programme. Disclaimer*
About this update from Maintel Holdings Plc
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT INFORMATION SECTION AT THE END OF THIS ANNOUNCEMENT. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION. 29 May 2026 Maintel Holdings Plc ("Maintel" or the "Company") Result of Retail Offer and Update on Timing Maintel is pleased to announce that, further to its announcement of 13 May 2026 the Retail Offer that launched on that date has now closed, raising gross proceeds of approximately £0.5 million. Subject to the Retail Offer becoming unconditional, a total of 619,545 Retail Offer Shares will be issued at a price of 80 pence each (the "Issue Price"). Following the close of the Retail Offer, the Company has conditionally raised, in aggregate, gross proceeds of approximately £5.5 million via the Fundraising. As set out in the Circular published on 13 May 2026, the Retail Offer is conditional on, inter alia, (a) completion of the Refinancing; (b) the passing of certain Resolutions by Shareholders at the General Meeting; and (c) the Retail Offer Shares being admitted to trading on the AIM market ("AIM") of the London Stock Exchange plc ("Admission")(together, the "Admission Conditions"). Admission of the Retail Offer Shares pursuant to the Retail Offer is expected to take place as part of Admission. Subject to the Admission Conditions, the Company will issue and allot a total of 4,369,545 new Ordinary Shares with regards to the Placing and Retail Offer. The Company remains in active conversations with its current and potential future lenders regarding the Refinancing; however, the timing of completion of the Refinancing process and therefore the date of Admission cannot be confirmed at t...
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