REG - Belluscura PLC - Update re proposed placing of CLNs

BelluscuraAnnouncement

24/06/2024 07:00

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RNS Number : 4902T  Belluscura PLC  24 June 2024

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATIONS
(EU) NO. 596/2014 WHICH HAS BEEN INCORPORATED INTO UK LAW BY THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA
REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO
BE IN THE PUBLIC DOMAIN.

 

24 June 2024

 

Belluscura plc

("Belluscura" or the "Company")

Update re proposed placing of convertible loan notes

 

Subscription for new ordinary shares to raise £300,000

 

Total voting rights

 

LONDON, U.K. AND PLANO, TX, U.S. (24 June 2024). Belluscura plc (AIM: BELL),
announced on 12 June 2024 a proposed placing of convertible loan notes. The
Company has received significant interest in, and demand for, the proposed
placing from new and existing investors and anticipates being able to provide
an update as to final terms, including the issue size, shortly.

 

Details of subscription for new ordinary shares

 

Separately, an investor has approached the Company expressing an interest in
subscribing for new ordinary shares of 1 penny each in the Company ("Ordinary
Shares"). Consequently, utilising the Directors' existing share authorities to
issue Ordinary Shares for cash on a non-pre-emptive basis, the Company has
raised gross proceeds of £300,00.00 through a subscription by such investor
for, and the allotment and issue by the Company of, 2,000,000 new Ordinary
Shares (the "Subscription Shares") at an issue price of 15 pence (the
"Subscription Price") per Subscription Share (the "Subscription").

 

The net proceeds of the Subscription will be used for working capital
purposes. The Subscription Price of 15 pence per Subscription Share represents
a discount of 7.7 per cent. to the closing mid-market price of 16.25 pence per
existing Ordinary Share on 21 June 2024 (being the last business day prior to
this announcement).

 

Application for Admission

 

Application has been made for the Subscription Shares to be admitted to
trading on AIM ("Admission") and it is expected that Admission will become
effective and that dealings will commence at 8.00 a.m. on or around 25 June
2024. Once issued, the Subscription Shares will rank pari passu with the
Company's existing Ordinary Shares.

 

Total voting rights

 

Following Admission, the enlarged issued share capital of the Company will
comprise 167,032,567 Ordinary Shares. The Company does not hold any Ordinary
Shares in treasury. Consequently, 167,032,567 is the figure which may be used
by shareholders as the denominator for the calculation 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 Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.

 

For further information please contact:

 Belluscura plc                                       Tel: +44 (0)20 3128 8100
 Adam Reynolds, Chairman
 Robert Rauker, Chief Executive Officer
 Simon Neicheril, Chief Financial Officer

 SPARK Advisory Partners Limited - Nominated Adviser  Tel: +44 (0)20 3368 3550
 Neil Baldwin / Jade Bayat

 Dowgate Capital Limited - Broker                     Tel: +44 (0)20 3903 7715
 Russell Cook / Nicholas Chambers

 MHP Group - Financial PR & Investor Relations        Tel: +44 (0)20 3128 8100
 Katie Hunt / Matthew Taylor                          email: Belluscura@mhpgroup.com
                                                      (file:///C:/Users/Matthew.Taylor/AppData/Local/Microsoft/Windows/INetCache/Content.Outlook/SXDYXY87/Belluscura@mhpgroup.com)

 

 

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