Completion of Equity Fundraise
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Sareum Holdings plc is pleased to announce that, further to its announcements of 28 March 2024 and 2 April 2024, the Placing, Subscription, Director Subscription and WRAP Retail Offer will complete today, raising gross proceeds of £2.29m through the issue of, in aggregate, 22,889,733 new Ordinary Shares at the Placing Price of 10 pence per new Ordinary Share (the "Fundraising Shares").
Placing, Subscription and Director Subscription
Further to its announcement on 28 March 2024, the Company has raised gross proceeds of £1.17m through the issue of a total of 11,700,000 Fundraising Shares at the Placing Price, comprising 9,550,000 Placing Shares pursuant to the Placing by Hybridan LLP, 2,055,000 Subscription Shares pursuant to the Subscription by certain high net worth individuals and 195,000 new Ordinary Shares pursuant to the Director Subscription (of which 100,000 new Ordinary Shares were settled via the WRAP Retail Offer in respect of Dr Stephen Parker's subscription and 95,000 new Ordinary Shares are being issued via a direct subscription with the Company).
Enlarged WRAP Retail Offer
Further to its announcement on 2 April 2024, the Company is also pleased to confirm the completion of the significantly oversubscribed WRAP Retail Offer, which closed at 12:00 BST on 2 April 2024, raising gross proceeds of £1.12m through the issue of a total of 11,189,733 Fundraising Shares at the Placing Price.
Adviser Fees Shares and Director Salary Deferral
In addition to the Fundraising Shares, as announced on 28 March 2024, the Company will also today issue 576,698 Salary Conversion Shares in lieu of amounts owed to certain Directors from historically deferred salaries and 450,000 Adviser Fee Shares to certain advisers to settle amounts due in respect of professional fees.
Admission and Total Voting Rights
The Company has applied for a total of 23,916,431 new Ordinary Shares to be admitted to trading on AIM at 8:00 a.m. on 5 April 2024 ("Admission") pursuant to the Fundraising Shares, the Salary Conversion Shares and the Adviser Fee Shares ("New Ordinary Shares").
The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares of the Company, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after Admission.
Following Admission, the total number of Ordinary Shares in issue will be 95,678,309 and the total number of voting rights will therefore be 95,678,309, and this figure may be used by shareholders 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.
Capitalised terms used in this announcement shall, unless defined in this announcement or unless the context provides otherwise, bear the same meaning ascribed to such terms in the announcements made by the Company at 07:00 a.m. on 28 March 2024.
Further information on the Company can be found on its website at https://sareum.com/.
The Company's LEI is 213800PKERN2DY8FFM72.
The notification below is made in accordance with the requirements of the EU's Market Abuse Regulation:
PDMR Notification Form:
The below form is disclosed in accordance with the requirements of the EU's Market Abuse Regulation and in relation to certain dealings by directors pursuant to the Director Subscription and issue of Salary Conversion Shares:
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name : | Tim Mitchell | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status : | Chief Executive Officer | ||||
| b) | Initial notification/Amendment : | Initial notification | ||||
| a) | Name : | Sareum Holdings plc | ||||
| b) | LEI : | 213800PKERN2DY8FFM72 | ||||
| a) b) | Description of the financial instrument, type of instrument : Identification code : | Ordinary shares of 0.0125 pence each in the share capital of Sareum Holdings plc GB00B02RFS12 | ||||
| Nature of the transaction : | 1. Purchase of shares 2. Conversion of debt into ordinary shares | |||||
| c) | Price(s) and volume(s) : | Price(s) Volume(s) 1. 10p 50,000 2. 10p 221,359 | ||||
| d) | Aggregated information : · Aggregated volume : · Price : | 271,359 10 pence per ordinary share | ||||
| e) | Date of the transaction : | 28 March 2024 | ||||
| f) | Place of the transaction : | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name : | Stephen Parker | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status : | Non-Executive Chairman | ||||
| b) | Initial notification/Amendment : | Initial notification | ||||
| a) | Name : | Sareum Holdings plc | ||||
| b) | LEI : | 213800PKERN2DY8FFM72 | ||||
| a) b) | Description of the financial instrument, type of instrument : Identification code : | Ordinary shares of 0.0125 pence each in the share capital of Sareum Holdings plc GB00B02RFS12 | ||||
| Nature of the transaction : | 1. Purchase of shares 2. Conversion of debt into ordinary shares | |||||
| c) | Price(s) and volume(s) : | Price(s) Volume(s) 1. 10p 100,000 2. 10p 104,854 | ||||
| d) | Aggregated information : · Aggregated volume : · Price : | 204,854 10 pence per ordinary share | ||||
| e) | Date of the transaction : | 28 March 2024 | ||||
| f) | Place of the transaction : | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name : | Clive Birch | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status : | Non-Executive Director | ||||
| b) | Initial notification/Amendment : | Initial notification | ||||
| a) | Name : | Sareum Holdings plc | ||||
| b) | LEI : | 213800PKERN2DY8FFM72 | ||||
| a) b) | Description of the financial instrument, type of instrument : Identification code : | Ordinary shares of 0.0125 pence each in the share capital of Sareum Holdings plc GB00B02RFS12 | ||||
| Nature of the transaction : | 1. Purchase of shares 2. Conversion of debt into ordinary shares | |||||
| c) | Price(s) and volume(s) : | Price(s) Volume(s) 1. 10p 45,000 2. 10p 29,126 | ||||
| d) | Aggregated information : · Aggregated volume : · Price : | 74,126 10 pence per ordinary share | ||||
| e) | Date of the transaction : | 28 March 2024 | ||||
| f) | Place of the transaction : | Outside a trading venue | ||||
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |||||
| a) | Name : | John Reader | ||||
| 2. | Reason for the notification | |||||
| a) | Position/status : | Chief Scientific Officer | ||||
| b) | Initial notification/Amendment : | Initial notification | ||||
| a) | Name : | Sareum Holdings plc | ||||
| b) | LEI : | 213800PKERN2DY8FFM72 | ||||
| a) b) | Description of the financial instrument, type of instrument : Identification code : | Ordinary shares of 0.0125 pence each in the share capital of Sareum Holdings plc GB00B02RFS12 | ||||
| Nature of the transaction : | Conversion of debt into ordinary shares | |||||
| c) | Price(s) and volume(s) : |
| ||||
| d) | Aggregated information : · Aggregated volume : · Price : | N /A Single Transaction | ||||
| e) | Date of the transaction : | 28 March 2024 | ||||
| f) | Place of the transaction : | Outside a trading venue |
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