Close of Fundraising and Result of Retail Offer
EMV Capital closed oversubscribed fundraising raising £1.5m at £0.50 per share.
- Gross proceeds raised £1.5 million
- Subscription proceeds £932,752
- Retail Offer proceeds £567,248
- Issue price per share £0.50
- Total new shares issued 3,000,000
- Total voting rights post-admission 27,357,555
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EMV Capital plc
("EMVC" or the "Company")
Close of oversubscribed Fundraising
and
Result of WRAP Retail Offer
EMV Capital plc (AIM: EMVC), the deeptech and life sciences VC investment group, is pleased to announce, further to the announcements made on 3 December 2024, the closing of the Retail Offer and the final result of its oversubscribed Fundraising at the Issue Price of £0.50 pence per New Share. The Company has raised aggregate gross proceeds of £1.5 million, of which £932,752 was raised pursuant to the Subscription and £567,248 was raised pursuant to the Retail Offer.
Accordingly, the Company will issue a total of 3,000,000 New Shares at the Issue Price (1,865,504 pursuant to the Subscription and 1,134,496 pursuant to the Retail Offer). Terms defined in the Company's announcement of the Fundraising have the same meanings in this announcement.
The gross proceeds of the Subscription increased from £880,000 as announced on 3 December 2024 to £932,752 following the Company's receipt of a further subscription for 105,504 New Shares at the Issue Price (raising additional proceeds of £52,752).
Dr Ilian Iliev, CEO of EMV Capital and Investment Director of Q-Bot, commented:
"We are pleased to close our oversubscribed fundraising, at a notable premium in this difficult macro-economic climate where we are aware of many other fundraisings being at a substantial discount. This has been possible due to EMV Capital Partners and its introduction of supportive existing and qualifying new investors, many of whom frequently participate in the funding of our portfolio companies. I welcome our new shareholders, and we look forward to deploying the funds raised to develop the Company's growth strategy."
Related Party Transactions
Charles Spicer (Non-Executive Chair) and Ed Hooper (Executive Director) have participated in the Retail Offer by subscribing for New Shares (40,000 and 180,000 respectively) at the Issue Price via their respective Self-Invested Personal Pensions.
Charles Spicer and Ed Hooper are deemed to be related parties pursuant to Rule 13 of the AIM Rules for Companies and their participation in the Fundraising (as described above) is a related party transaction for the purposes of such Rule (Directors' Retail Offer RPT).
The table below summarises the interests of each of Charles Spicer and Ed Hooper in the Fundraising.
| Director | Existing beneficial shareholding | New Shares subscribed for | Shareholding on Admission | Shareholding as a percentage of the enlarged share capital upon Admission |
|---|---|---|---|---|
| Charles Spicer | 16,286 | 40,000 | 56,286 | 0.21% |
| Ed Hooper | 122,000 | 180,000 | 302,000 | 1.10% |
AIM Rule 13 fair and reasonable opinion
Jonathan Robinson, being the Director who is independent of the Directors' Retail Offer RPT, having consulted with the Company's nominated adviser, Panmure Liberum Limited, considers the terms of the Directors' Retail Offer RPT to be fair and reasonable insofar as the Company's shareholders are concerned.
PDMR dealing
In addition, certain other PDMRs of the Company have subscribed for 72,800 New Shares at the Issue Price. Further details outlined at the end of this announcement.
Admission and Total Voting Rights
Application has been made to London Stock Exchange plc for the admission to trading on AIM of 3,000,000 New Shares (Admission). It is expected that Admission will become effective and dealings will commence at 8.00 a.m. on or around 9 December 2024.
Upon Admission, the Company's issued ordinary share capital will consist of 27,357,555 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission the total number of Ordinary Shares and voting rights in the Company will be 27,357,555. With effect from Admission, this figure may be used by shareholders in the Company 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 FCA's Disclosure Guidance and Transparency Rules.
The New Shares to be issued pursuant to the Retail Offer will be issued free of all liens, charges and encumbrances and will, on Admission, rank pari passu in all respects with the New Shares to be issued pursuant to the Subscription and the Company's existing Ordinary Shares.
Further information on the Company can be found on its website at emvcapital.com.
The Company's LEI is 213800N5WD46G1Y7I458.
| a) | Name | Charles Spicer | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification /Amendment | Initial Notification | ||||
| a) | Name | EMV Capital plc | ||||
| b) | LEI | 213800N5WD46G1Y7I458 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | EMVC 5p Ordinary Shares GB00BN4R5Q82 | ||||
| b) | Nature of the transaction | Subscription for new Ordinary Shares into SIPP | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/a | ||||
| e) | Date of the transaction | 4 December 2024 | ||||
| f) | Place of the transaction | UK AIM | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Ed Hooper | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | Director | ||||
| b) | Initial notification /Amendment | Initial Notification | ||||
| a) | Name | EMV Capital plc | ||||
| b) | LEI | 213800N5WD46G1Y7I458 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | EMVC 5p Ordinary Shares GB00BN4R5Q82 | ||||
| b) | Nature of the transaction | Subscription for new Ordinary Shares into SIPP | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/a | ||||
| e) | Date of the transaction | 4 December 2024 | ||||
| f) | Place of the transaction | UK AIM | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Stephen Crower | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR (CFO) | ||||
| b) | Initial notification /Amendment | Initial Notification | ||||
| a) | Name | EMV Capital plc | ||||
| b) | LEI | 213800N5WD46G1Y7I458 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | EMVC 5p Ordinary Shares GB00BN4R5Q82 | ||||
| b) | Nature of the transaction | Subscription for new Ordinary Shares into SIPP | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/a | ||||
| e) | Date of the transaction | 4 December 2024 | ||||
| f) | Place of the transaction | UK AIM | ||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | Nick Salisbury | ||||
| 2 | Reason for the notification | |||||
| a) | Position/status | PDMR (Head of Capital Raising & Co‑Investment) | ||||
| b) | Initial notification /Amendment | Initial Notification | ||||
| a) | Name | EMV Capital plc | ||||
| b) | LEI | 213800N5WD46G1Y7I458 | ||||
| a) | Description of the financial instrument, type of instrument Identification code | EMVC 5p Ordinary Shares GB00BN4R5Q82 | ||||
| b) | Nature of the transaction | Subscription for new Ordinary Shares into SIPP | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information - Aggregated volume - Price | N/a | ||||
| e) | Date of the transaction | 4 December 2024 | ||||
| f) | Place of the transaction | UK AIM |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.