REG - Nightcap PLC - Update re. fundraising of up to £3.5 million

NightcapAnnouncement

12/06/2024 14:45

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RNS Number : 1920S  Nightcap PLC  12 June 2024

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK
LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN
ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN
THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH
INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS
SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

 

 

12 June 2024

 

Nightcap plc

("Nightcap " or the "Company")

 

Update on the Company's up to £3.5 million fundraising

Further to the Company's announcement on 22 May 2024 that it was initiating a
fundraising of up to £3.5 million, Nightcap, the owner and operator of 46
premium bars, announces that it has raised an additional £1.5 million, before
expenses, through a further subscription for 30,000,000 New Ordinary Shares
(the "Additional Subscription Shares") at an Issue Price of five pence per New
Ordinary Share (the "Additional Subscription").

On 22 May 2024, the Company announced that it had raised £0.75 million,
before expenses, through a subscription for 15,000,000 New Ordinary Shares
(the "Initial Subscription Shares") at the same Issue Price (the "Initial
Subscription"). The Company has therefore now received subscription
commitments for a total of £2.25 million, before expenses.

Timing of admission of New Ordinary shares

Application will be made for the Additional Subscription Shares to be admitted
to AIM ("First Admission"), which is expected to occur on or before 25 June
2024. A further announcement regarding the settlement and completion of the
Additional Subscription and First Admission will be made in due course.

Application will be made for the Initial Subscription Shares to be admitted to
AIM ("Second Admission"), which is continued to be expected to occur on or
before 2 September 2024.  A further announcement regarding the settlement and
completion of the Initial Subscription and Second Admission will be made in
due course.

The Additional Subscription is not conditional on the issue of further New
Ordinary Shares pursuant to the Fundraising. The obligations of investors
pursuant to the Additional Subscription will not be affected if the remainder
of the Fundraising is not completed for any reason.

Capitalised terms in this announcement shall have the meanings given to such
terms in the announcement issued by the Company dated 22 May 2024 unless
otherwise defined herein.

Contacts:

 

 Nightcap plc

 Sarah Willingham / Richard Haley / Gareth Edwards                           email@nightcapplc.com

 Allenby Capital Limited (Financial Adviser, Nominated Adviser and Broker)   +44 (0) 20 3328 5656

 Nick Naylor / Alex Brearley / Piers Shimwell (Corporate Finance)

 Jos Pinnington / Amrit Nahal / Tony Quirke (Sales and Corporate Broking)    www.allenbycapital.com (http://www.allenbycapital.com/)

 Bright Star Digital (PR)                                                    https://www.brightstardigital.co.uk/

 Pam Lyddon                                                                  +44 (0) 7534 500 829

                                                                             pamlyddon@brightstardigital.co.uk

 

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