Notice of Director/PDMR Warrant exercise
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Built Cybernetics plc (AIM: BUC), the Smart Buildings Group, announces that certain directors/PDMRs who hold Built Cybernetics warrants are exercising their entire warrant holdings. In aggregate, 14,000,000 warrants are being exercised at one penny each, which will result in the issue of 14,000,000 new ordinary shares of one penny each in the Company ("Ordinary Shares"). Total gross proceeds to the Company from the warrants exercise will be £140,000.
The majority of the warrants being exercised are held in workplace SIPP accounts with third parties and accordingly the full exercise process may take several weeks. Accordingly, application will be made to the London Stock Exchange for admission ("Admission") of the 14,000,000 new Ordinary Shares in due course and a further announcement will be made as appropriate.
The participation by members of the Board and management in the exercise of warrants is as set out in the table below:
| Name | Role | Number of Warrants being exercised | Resultant no. of Ordinary Shares held | % enlarged share capital* |
|---|---|---|---|---|
| Nick Clark | Chief Executive | 2,000,000 | 44,531,539 | 12.54% |
| Tony Barkwith | Group Finance Director | 5,000,000 | 10,000,000 | 2.82% |
| Freddie Jenner | Chief Operating Officer | 2,500,000 | 11,064,817 | 3.12% |
| Robert Fry | Deputy Chairman | 2,000,000 | 6,150,000 | 1.73% |
| Jason Brameld | CTO (non-Board PDMR) | 2,500,000 | 5,785,110 | 1.63% |
* as enlarged by the exercise of the 14,000,000 warrants
No members of the board hold any further warrants. Following the exercise of these warrants there are 23,500,000 warrants outstanding which, if exercised, would raise a further £235,000 for the Company.
| Investor Enquiries We encourage all investors to share questions on this announcement via our investor hub | https://builtcybernetics.com/link/Ky08Zy | |
| Built Cybernetics plc Nick Clark, Chief Executive | +44 (0) 20 7843 3001 | |
| Strand Hanson Limited, Financial and Nominated Advisor Richard Johnson, James Bellman | +44 (0) 20 7409 3494 | |
| Zeus Capital Limited, Broker Simon Johnson, Louisa Waddell | +44 (0) 20 3829 5000 | |
| 2 | Reason for the notification | |
| a) | Position/status | 1. Director (Chief Executive) 2. Director (Group Finance Director) 3. Director (COO) 4. Director (Deputy Chairman) 5. PDMR (CTO) |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | Built Cybernetics plc |
| b) | LEI | 213800WWNHLPUBSUK220 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 1 penny each |
| Identification code | GB0000617950 | |
| b) | Nature of the transaction | Exercise of warrants to subscribe for Ordinary Shares |
| c) | Currency | GBP - British Pound |
| d) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| All at 1p per share | 1. 2,000,000 2. 5,000,000 3. 2,500,000 4. 2,000,000 5. 2,500,000 | |
| e) | Aggregated information | |
| - Aggregated volume | 14,000,000 | |
| - Aggregate Value | £140,000 | |
| f) | Date of the transaction | 28 April 2025 |
| g) | Place of the transaction | Off-market |
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