Zenova Group plc (AIM:ZED), the innovative fire suppression and interdiction solutions company, is pleased to announce that the Company, through its corporate broker Peterhouse Capital Limited ("Peterhouse"), has conditionally raised gross proceeds of £250,000 via a placing (the "Placing") of 100,000,000 new ordinary shares at a price of 0.25 pence per share ("Placing Shares"). The Fundraise was undertaken with existing shareholders and new institutions and several new high net worth investors. As part of the Placing, warrants have been issued on a 1-for-1 basis, allowing new investors to subscribe for additional shares at 0.5 pence per new ordinary share, with an exercise period of 18 months from the date of admission. Use of Proceeds The proceeds will be used to ensure sufficient working capital and enable the Company to continue to progress on substantial and continuing order interest for the Group's extinguisher products. Admission & Total Voting Rights ("TVR") Statement
Prior to this Placing, the Company had 140,225,973 ordinary shares of £0.001 par value on issue, each with one vote per share. The Company does not hold any ordinary shares in treasury. Following the issuance of the 100,000,000 Placing Shares, the TVR will increase by 100,000,000 shares, bringing the total number of voting rights in the Company to 240,225,973. Therefore, the figure of 240,225,973, post the issue of these new Placing Shares, can be used by shareholders to determine whether they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed. The 100,000,000 Placing Shares will be admitted to trading on AIM on or around 28 February 2025, following settlement. Director Participation
Dr. Etrur Albani, Non-Executive Director of the Company (the "Participating Director"), has agreed to participate in the Placing for 4,000,000 Placing Shares at the Issue Price. The interests of the Participating Director in the Company's enlarged share capital will be as follows:
Director: Dr. Etrur Albani
Number of Ordinary Shares held as at the date of this announcement: 5,405,000
Number of Placing Shares subscribed for: 4,000,000
Resulting number of Ordinary Shares held immediately following Admission: 9,405,000
Percentage Holding immediately following Admission: 3,9%
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU, which is part of domestic UK law pursuant to the Market Abuse (Amendment) (EU Exit) regulations (SI 2019/310).
