WRAP Retail Offer
Built Cybernetics PLC is launching a WRAP Retail Offer to raise up to approximately £100,000 through the issuance of up to 6,666,666 new ordinary shares at 1.5 pence per share. This offer, which is conditional on the completion of a separate placing and subscription raising approximately £0.57 million, is exclusively available to eligible retail investors in the United Kingdom. The net proceeds from the WRAP Retail Offer will be used for the same purposes as the funds raised from the placing and subscription. The offer is expected to close on May 7, 2026, with admission of the new shares to AIM anticipated on May 25, 2026.
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Built Cybernetics (AIM: BUC), the smart buildings group, is pleased to announce a retail offer via the Winterflood Retail Access Platform ("WRAP") to raise up to approximately £100,000 (the "WRAP Retail Offer") through the issue of new ordinary shares of one penny each in the capital of the Company ("Ordinary Shares"). Under the WRAP Retail Offer up to 6,666,666 new Ordinary Shares (the "WRAP Retail Offer Shares") will be made available at an issue price of 1.5 pence per share.
In addition to the WRAP Retail Offer and as announced earlier today, the Company is also conditionally raising a total of approximately £0.57 million (before expenses) via a placing and a subscription (the "Placing and Subscription") of new Ordinary Shares (the "Placing and Subscription Shares" and together with the WRAP Retail Offer Shares, the "New Ordinary Shares") at a price of 1.5 pence per Placing and Subscription Share (the "Issue Price"). The Issue Price represents a discount of approximately 21 per cent. to the mid-market closing price on AIM of an Ordinary Share on 29 April 2026 (being the latest practicable date prior to this announcement). The issue price of the WRAP Retail Offer Shares is equal to the Issue Price.
A separate announcement has been made regarding the Placing and Subscription and its terms and sets out its use of proceeds. The net proceeds of the WRAP Retail Offer will be utilised in the same way as the net proceeds of the Placing and Subscription.
The issue of the WRAP Retail Offer Shares will be conditional upon, inter alia, the passing of certain resolutions (granting the Directors authority to issue and allot new ordinary shares otherwise than on a non-pre-emptive basis) to be put to shareholders of the Company at the annual general meeting of the Company which is expected to be held on 22 May 2026, whereby such authority will be utilised by the Directors to enable the issue of the WRAP Retail Offer Shares. The issue of the WRAP Retail Offer Shares will also be conditional upon the WRAP Retail Offer Shares being admitted to trading on AIM ("Admission"). It is anticipated that Admission will become effective and that dealings in the WRAP Retail Offer Shares will commence at 8:00 a.m. on 25 May 2026.
WRAP Retail Offer
Therefore, the Company is making the WRAP Retail Offer available to eligible investors in the United Kingdom following release of this announcement, being existing shareholders of Built Cybernetics plc, and through certain financial intermediaries.
The WRAP Retail Offer is expected to close at 5:00 p.m. on 7 May 2026. Eligible shareholders should note that financial intermediaries may have earlier closing times.
There is a minimum subscription of £100 per investor under the WRAP Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.
| Investor Enquiries We encourage all investors to share questions on this announcement via our investor hub | https://builtcybernetics.com/link/yzYmQP |
| Built Cybernetics plc Clive Carver, Chairman Nick Clark, Chief Executive | +44 (0)20 7843 3001 |
| Canaccord Genuity Limited , Nominated Adviser and joint broker Stuart Andrews Elizabeth Halley-Scott | +44 (0)20 7523 8000 |
| Allenby Capital Limited , joint broker Nick Naylor, Alex Brearley (Corporate Finance) Jos Pinnington, Lauren Wright (Sales and Corporate Broking) | +44 (0)20 3328 5656 |
| Winterflood Retail Access Platform Sophia Bechev, Kaitlan Billings | WRAP@winterflood.com 0203 100 0214 |
The Company's LEI is 213800WWNHLPUBSUK220.
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Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.