Fundraising of £1.0 Million

Tekcapital Plc (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives announces that it has raised a total of £1.0 million (c.US$1.27m) before expenses, in a fundraise (the "Fundraise") comprising of a placing ("Placing") from existing and new shareholders, by way of the issue of, in aggregate, 11,724,167 new ordinary shares of 0.4 pence each in the Company (the "Ordinary Shares"), at a price ("Placing Price") of 7.5 pence per share (the "Placing Shares"), together with a subscription ("Subscription") by existing and new shareholders of, in aggregate, 1,609,167 new Ordinary Shares ("Subscription Shares") at the Placing Price.

The Placing was undertaken by the Company's broker SP Angel Corporate Finance LLP.

Key Highlights:

• £1.0m (US$1.27m) before expenses was raised by means of the Fundraise.

Funds raised will be used as follows:

• £0.4m to accelerate deployment of Guident Ltd's Remote Monitor and Control Centre (RMCC) with existing customer base and onboard new clients at Guident;
• £0.2m for the preparation of Guident's planned IPO in 2025; and
• the remainder of the funds raised will primarily be for additional working capital.

Related Party Transaction

As part of the Fundraise, Tekcapital CEO and Chairman Dr Clifford Gross has subscribed for 342,500 new Ordinary Shares at the Placing Price (the "Director Subscription"). On admission of the Placing Shares and Subscription Shares Dr Clifford Gross will hold 9,000,000 Ordinary Shares representing 4.25% of the enlarged issued share capital of the Company.

The Director Subscription is deemed to be a related party transaction for the purposes of AIM Rule 13. The directors of the Company, other than Clifford Gross, having consulted with the Company's nominated adviser, SP Angel Corporate Finance LLP, consider that the terms of the Director Subscription are fair and reasonable insofar as shareholders of the Company are concerned.

Admission and Total Voting Rights

Application will be made for the Placing Shares and the Subscription Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 20 November 2024.

Following the issue of the 11,724,167 Placing Shares and the 1,609,167 Subscription Shares, which, on Admission, will rank pari passu with the existing Ordinary Shares, the total number of Ordinary Shares in issue with voting rights in the Company will be 211,521,496. There are no shares held in treasury.

The above figure of 211,521,496 Ordinary Shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Clifford M. Gross Ph.D., Executive Chairman of Tekcapital plc commented:

"We are excited to have completed this fundraising round as it will further the progress of Guident ahead of its planned 2025 Initial Public Offering. Additionally, we look forward to keeping shareholders updated with the anticipated progress of our other portfolio companies in due course."

Clifford M. Gross, Ph.D.

Tim Thompson/Andrea Seymour/Fergus Mellon