Zenova Group PLC (AIM: ZED), a provider of innovative fire safety and heat management technology and products, announces that the executive directors who hold Ordinary Shares in the Company and the Locked-in Shareholders of the Company (as defined in the Company’s Admission Document published on 19 July 2021), which includes the Company’s founders, have entered into a new Lock-In Agreement.
Under the new Lock-In Agreement, for a period of 12 months following the 12 month anniversary of the Company’s Admission to AIM, the executive Directors who hold Ordinary Shares and the Locked-in Shareholders have agreed that they will not dispose of any of the Ordinary Shares held by them (or enter into a transaction with the same economic effect); in each case subject to certain limited exceptions including in the event of an intervening court order, the death of a party who is subject to the lock-in, in respect of an acceptance of a takeover offer for the Company which is open to all shareholders. The new lock-in agreement runs until July 2023.
The new Lock-in Agreement replaces various lock-in restrictions on the various parties regarding the disposal of Ordinary Shares after the 12 months anniversary of Admission, as detailed in paragraph 21.8 of Part 4 of the Company’s Admission Document.
Commenting on the news, Tony Crawley, CEO of Zenova Group PLC said:“The Directors and founders of Zenova have agreed to the new lock-in agreement as we feel it demonstrates commitment to the Company and underlines our collective belief in the Company’s growthstrategy and equity story.”
For further information:
Zenova Group PLC
Tony Crawley, Chief Executive Officer
Don Nicolson, Non-Executive Chairman
Via Orana Corporate LLP:
Anthony Eastman
Tel: +44 20 3475 6834
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Adam Dawes
Tel: +44 20 3368 3550
SI Capital Limited (Broker)
Nick Emerson
Tel: +44 1483 413 500
Redbine Ltd (Media Enquiries)
Paul Dulieu
Tel: +44 203 093 9530
+44 7554 521 421
Email: paul@redbine.co.uk
About Zenova Group PLC:
The Group, through Zenova Ltd, is the holder of intellectual property that underpins a suite of fire safety and temperature management products and technology. The product range is applicable to industrial, commercial, and residential markets. The Group’s products include fire retardant paints, insulating paints and render, fire extinguishing fluid and applications. Through innovative development, and a refined formulation and development process, Zenova provides industry leading solutions across a range of fire protection and temperature management problems, comprising:
Zenova FP
A water-based fire-resistant paint that prevents ignition and spread of fire. It can be used in commercial, industrial and domestic applications on a variety of materials, from wood to metal.
Zenova FX
Patent pending fire extinguisher filled with proprietary Zenova Fluid (Zenova FXB) that extinguishes all types of fires, reduces chances of re-ignition, works in cold (-15 ̊C) conditions, is non-toxic and does not produce harmful by-products.
Zenova IP
Thermal insulating paint that creates a thermal barrier, provides thermal reflection of sunrays & infrared radiation, anti-condensation and anti-mould properties. It can be applied to virtually any exterior or interior material, regardless of the surface.
Zenova IR
Thermal insulating render to enhance the effectiveness of insulation by creating a thermo shield. It fills all cavities and gaps regardless of geometric shape and creates a vacuum – the most effective insulator.
Zenova CS
Patent pending next generation ceiling sprinkler filled with proprietary Zenova Fluid (Zenova FXB) that removes the need to install large fluid tanks, piping, complicated equipment and software. This sprinkler could be installed in the kitchen.
The Group has achieved this without compromising the sustainability of natural and economical resources, including personal health and safety, with ecologically sound products.
