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.
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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 this stage, but in any event is expected to occur no later than the Admission Long Stop Date of 30 June 2026. If the Admission Conditions are not satisfied by 30 June 2026, the Fundraising will not complete and the funds relating to it will not be received. A further announcement will be made in due course.
The issued share capital of the Company following Admission will be a total of 18,731,037 Ordinary Shares (inclusive of the new Ordinary Shares).
A separate announcement will be made following the General Meeting , to be held at 11.00 a.m. on 1 June 2026, of the results of the General Meeting and the total voting rights following Admission.
Cavendish acted as Sole Bookrunner in connection with the Placing.
Unless otherwise defined, all capitalised terms used but not defined in this announcement shall have the meaning given to them in the announcement of the Fundraising made by the Company at 7.00 a.m. on 13 May 2026.
For further information please contact: Maintel Holdings PLC Tel: 0344 871 1122 Dan Davies, Chief Executive Officer Gab Pirona, Chief Financial Officer Cavendish (Nomad and Broker) Tel: 020 7220 0500 Jonny Franklin-Adams / Seamus Fricker / Andrea Callaghan (Corporate Finance) Sunila de Silva (Corporate Broking) Hudson Sandler (Financial PR) Tel: 020 7796 4133 Wendy Baker / Nick Moore maintel@hudsonsandler.com
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