Velocys PLC - PrimaryBid.com Offer
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF VELOCYS PLC IN ANY JURISDICTION.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN 779021)
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
The PrimaryBid Offer is conditional on the new ordinary shares to be issued pursuant to the PrimaryBid Offer being admitted to trading on AIM ("Admission"). Admission of the Retail Shares is expected to be take place at
The PrimaryBid Offer is also conditional upon the passing of certain resolutions in order to ensure that the directors of the Company have the necessary authorities and powers to allot the Retail Shares. A general meeting of the Company is therefore being convened for the purpose of considering those resolutions at
The Company intends to use the net proceeds raised by the PrimaryBid Offer to extend the Company's cashflow runway, maintain a reasonable balance sheet as well as to accelerate the upgrading of the reactor manufacturing capability, including to implement lean manufacturing, full automation of certain welding steps and potentially the three dimensional printing of certain sub-components.
The Company values its retail investor base ,which has supported the Company alongside institutional investors over several years. Given the longstanding support of retail shareholders, the Company believes that it is appropriate to provide retail and other interested investors the opportunity to participate in the PrimayBid Offer. The Company is therefore pleased to provide private and other investors the opportunity to participate in the PrimaryBid Offer by applying exclusively through the www.PrimaryBid.com platform and the PrimaryBid mobile app available on the
The PrimaryBid Offer, via the PrimaryBid.com platform, will be open to individual and institutional investors from
Subscriptions under the PrimaryBid Offer will be considered by the Company on a "first come, first served" basis, subject to conditions (which are available to view on PrimaryBid.com).
The total consideration under the PrimaryBid Offer and the Open Offer is less than
There is a minimum subscription of
The Company in consultation with PrimaryBid reserves the right to scale back any order at its discretion. The Company and PrimaryBid reserve the right to reject any application for subscription under the PrimaryBid Offer without giving any reason for such rejection.
No commission is charged to investors on applications to participate in the PrimaryBid Offer made through PrimaryBid. It is vital to note that once an application for Retail Shares has been made and accepted via PrimaryBid, an application cannot be withdrawn.
The Retail Shares will, when issued, be credited as fully paid and rank pari passu in all respects with the other ordinary shares of the Company then in issue, including all rights to all dividends and other distributions declared, made or paid following Admission.
For further information on PrimaryBid.com or the procedure for applications under the PrimaryBid Offer, visit www.PrimaryBid.com or call PrimaryBid.com on +44 20 3026 4750. The terms and conditions on which the PrimaryBid Offer is made, including the procedure for application and payment for Retail Shares, is available to all persons who register with PrimaryBid.com.
Henrik Wareborn, CEO
+44 1865 800821
+ 44 20 3026 4750
This announcement should be read in its entirety. In particular, the information provided in the "Important Notices" section of this announcement should be read and understood.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for Retail Shares and investment in the Company carries a number of risks. Investors should consider the risk factors set out on PrimaryBid.com before making a decision to subscribe for Retail Shares on investment in securities such as the Retail Shares if they are in any doubt.
The distribution of this announcement outside the
This announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's current expectations and projections about future events. These statements, which sometimes use words such as "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning, reflect the directors' beliefs and expectations and involve a number of risks, uncertainties and assumptions that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statement. Statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Information contained in this announcement Is subject to change without notice and the Company does not assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained herein. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.
This information is provided by RNS, the news service of the
Quick facts: Velocys Plc
Market Cap: £67.02 m
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