Result of Preferential Subscription Rights Issue
Novacyt S.A. has successfully raised €784,736 through a preferential subscription rights issue, issuing 1,961,840 new ordinary shares at €0.40 each, following its acquisition of Southern Cross Diagnostics Pty Ltd. The offer was oversubscribed by 125.20%, with total demand reaching 2,456,286 new shares. Ardenna PTY Ltd subscribed for €478,526 and was allocated the remaining 1,041,348 unsubscribed shares, resulting in it holding 1.43% of the enlarged share capital. The net proceeds of approximately €579,736 will strengthen the company's balance sheet. Following the issue, the company's total share capital will be €4,839,205.87, comprising 72,588,088 ordinary shares. The equity per share is expected to slightly decrease from €0.67 to €0.66.
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Paris, France, and Manchester, UK - 20 March 2026 - Novacyt S.A. (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international molecular diagnostics company with a broad portfolio of integrated technologies and services, announces the result of its preferential subscription rights ("PSR") issue (the "Offer"). The purpose of this round of financing was to allow existing Shareholders to participate in an equity raise following the announcement of the completion of the acquisition of Southern Cross Diagnostics Pty Ltd ("SCD").
In total, the Company has raised €784,736 through the issue of 1,961,840 new ordinary shares ("New Shares"), which includes 1,041,348 shares representing €416,539.20 subscribed for by the former owner of SCD.
Lyn Rees, CEO of Novacyt, commented: "Following the acquisition of SCD, which opened up new distribution channels to the life sciences and diagnostics industries in Australia and the wider Asia-Pacific region for the Group, we launched a PSR, allowing existing Shareholders to participate in a fundraise. We are pleased to see this conclude successfully and would like to thank our new and existing Shareholders for taking part. The Board is confident with the future value this earning accretive acquisition will have on the Group and outlook."
Results from the Offer
At the end of the subscription period, total demand (basic entitlements (souscriptions à titre irréductible), excess application facility (souscriptions à titre réductible) or unrestricted subscriptions (souscriptions à titre libre) amounted to 2,456,286 New Shares applied for at a unit price of €0.40, representing around 125.20% of the maximum number of Shares to be issued under the Offer.
This demand breaks down as follows:
- 328,109 Shares requested under basic entitlements (souscriptions à titre irréductible), i.e. a total amount of €131,243.60, representing 16.72% of the total amount of the Offer,
- 592,383 Shares requested under the excess application facility (souscriptions à titre réductible), i.e. a total amount of €236,953.20, representing 30.20% of the total amount of the Offer,
- 1,535,794 Shares requested under unrestricted subscriptions (souscriptions à titre libre), i.e. a total amount of €614,317.60, representing 78.28% of the total amount of the Offer, including subscription commitments amounting to €595,826[1] secured by the Company prior to the Offer.
[1] Excluding the subscription commitment made under basic entitlement and under the excess application facility by Mr. Jean-Pierre Crinelli (Board member) in the amount of €10,000.
All of the demand under the basic entitlements (souscriptions à titre irréductible) and the excess application facility (souscriptions à titre réductible) has been satisfied, which represents 46.92% of the amount of the Offer (i.e. €368,196.80).
Among these subscriptions under basic entitlements (souscriptions à titre irréductible) and excess application facility (souscriptions à titre réductible) is the subscription by Mr. Jean-Pierre Crinelli, a shareholder and member of the Company's Board of Directors, for 25,000 New Shares amounting to €10,000, as provided for in his subscription commitment dated 1 March 2026.
The 1,041,348 New Shares not subscribed for under basic entitlements (souscriptions à titre irréductible) and excess application facility (souscriptions à titre réductible) representing 53.08% of the amount of the Offer and €416,539.20, were freely distributed and allocated by the Board of directors.
Given the oversubscription, the overall allocation rate for unrestricted subscriptions (souscriptions à titre libre) was approximately 67.8%.
Prior to the launch of this Offer, the Company had received subscription commitments (in the form of unrestricted subscription) totalling €595,826.14. This included a commitment of €478,526 from Ardenna PTY Ltd ("Ardenna").
The Board of Directors, on 19 March 2026, decided to allocate all available unsubscribed shares to Ardenna, representing 1,041,348 New Shares, resulting in it holding 1.43% of the Company's enlarged share capital following the Offer. It should be noted that no related governance agreement has been entered into with Ardenna.
Reminder: use of proceeds from the Offer
The net proceeds of the Offer will amount to around €579,736 and will strengthen the Company's balance sheet.
Settlement, delivery and Admission to Trading
Settlement and delivery of the New Shares and their admission to trading on Euronext Growth Paris and AIM are scheduled for on or around 24 March 2026. The New Shares will carry dividend rights, will be immediately fungible with the Company's existing Shares, and will be traded on the same listing line, under the same ISIN code (FR0010397232).
Total Share Capital and Voting Rights:
Following settlement and delivery, the Company's issued share capital will amount to €4,839,205.87 and will be comprised of 72,588,088 ordinary Shares with a par value of €1/15 each.
Impact of the issue on consolidated equity per share:
Consolidated equity per Share (1)(2)
| Before the issue | €0.67 |
| After the issue | €0.66 |
- based on consolidated equity as of 30 June 2025 plus transactions carried out and excluding results since 1 July 2025
- it being specified that the Company has not issued any security giving access to share capital
impact of the issue on the situation of a shareholder with 1% of the capital and not subscribing to the Offer
Percentage of issued share capital
| Before the issue | 1.00% |
| After the issue | 0.97% |
Commitments to Retain Shares and Abstain from Trading
The Company and Ardenna have entered into a lock in arrangement whereby Ardenna has agreed to hold its New Shares for a minimum of 12 months, after which orderly market rules will apply for six months.
Abstention commitments from the Company
None.
Share codes
- Name: NOVACYT
- ISIN code and share ticker symbol: FR0010397232 - LSE: NCYT / EURONEXT ALNOV
- Listing venue: Euronext Growth Paris
- LEI code: 213800BWAC2BF295EG28
Documents on display
All of the Company's corporate documents that must be made available to Shareholders under French law can be inspected at the Company's headquarters.
The Company reports its financial results in accordance with the requirements of applicable law and regulation. All communications are presented on its website.
For further information, please refer to www.novacyt.com.
Appendix
The following definitions apply throughout this announcement unless the context requires otherwise:
| " AIM " | AIM, a market operated by the London Stock Exchange | |
| " AMF " | the Autorité des marchés financiers, the French financial markets regulator | |
| " Board " or " Directors " | the board of directors of the Company | |
| " Euronext Growth Paris " | Euronext Growth in Paris, a market dedicated to small and midcap companies operated by Euronext | |
| " New Shares " | the New Shares issued at the end of the Offer | |
| " Offer " | Mean the increase in capital by way of an issue of preferential subscription rights | |
| " Shares " | ordinary Shares of 1/15th of one Euro each in the share capital of the Company | |
| . | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name: | 1) Mr Jean-Pierre Crinelli |
| 2. | Reason for the notification | |
| a) | Position/status: | 1) Non-Executive Director |
| b) | Initial notification/Amendment: | Initial notification |
| a) | Name: | Novacyt S.A. |
| b) | LEI: | 213800BWAC2BF295EG28 |
| a) | Description of the financial instrument, type of instrument: Identification code: | N ew shares o f EUR1/15TH each FR0010397232 |
| b) | Nature of the transaction: | Purchase of shares pursuant to a Preferential Subscription Rights issue on Euronext |
| c) | Price(s) and volume(s): | 1) 25,000 Shares at EUR 0.40 |
| d) | Aggregated information: Aggregated volume: Price: | as in 4 c) above 25,000 EUR 0.40 |
| e) | Date of the transaction: | 19 March 2026 |
| f) | Place of the transaction: | Outside of Trading Venue |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.