For immediate
release
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 WHICH
FORMS PART OF THE LAWS OF ENGLAND AND WALES PURSUANT TO THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 (UK MAR). UPON PUBLICATION OF
THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
WITHIN THE PUBLIC DOMAIN.
EMV Capital
plc
("EMV Capital" or the
"Company" or the
"Group")
Result of
Subscription
Successful Subscription to
raise £880,000
EMV Capital plc (AIM: EMVC), the
deeptech and life sciences VC investment group, is pleased to
announce, following its announcement made
earlier today (Impact
Announcement), the successful completion of the Subscription
at the Issue Price of £0.50 per New Share for 1,760,000 New Shares,
raising in aggregate £880,000 from new and existing shareholders.
Terms defined in the Impact Announcement have the same meanings in
this announcement.
Retail Offer
As announced earlier today, the
Company also launched the Retail Offer through the Winterflood
Retail Access platform to raise up to £620,000. The Retail Offer is
expected to close at 4:30 p.m. on 4 December 2024, or such later
time and date as the Company and Winterflood may agree, the results
of which are expected to be announced on or around 5 December
2024.
Related party transactions
Director
participation
Ilian Iliev (Chief Executive
Officer) has participated in the Subscription by subscribing for
200,000 New Shares at the Issue Price, with payment therefor to be
settled by releasing the Company from £100,000 of the annual bonus
awarded to him for the year ended 31 December 2023, such amount
being c.80 per cent. of such annual bonus.
Charles Spicer (Non-Executive Chair)
and Ed Hooper (Executive Director) intend to participate in the
Retail Offer by subscribing for New Shares (20,000 and 180,000
respectively) at the Issue Price via their respective Self-Invested
Personal Pensions. Further details will be included in the
announcement of the result of Retail Offer.
Ilian Iliev is deemed to be a
related party pursuant to Rule 13 of the AIM Rules for Companies
and his participation in the Fundraising (as described above) is a
related party transaction for the purposes of such Rule
(Director RPT).
The table below summarises the
interests of Ilian Iliev in the Fundraising.
|
Existing beneficial
shareholding
|
New Shares subscribed
for
|
Shareholding on
Admission
|
Shareholding as a percentage
of the enlarged share capital upon Admission*
|
|
3,661,457
|
200,000
|
3,861,457
|
14.11%
|
*assuming the Retail Offer is fully
subscribed
The information below the heading
'About EMV Capital plc
(EMVC)', set out in accordance with the requirements of MAR,
provides further detail.
Substantial
Shareholder
participation
A Beckman plc SSAS (Small Self
Administered Pension Scheme), which is associated with Melvin Lawson, a substantial shareholder in
the Company, has participated in the Subscription by subscribing
for 100,000 New Shares at the Issue Price (Substantial Shareholder
Participation). The Substantial Shareholder Participation is deemed to be a
related party transaction pursuant to the AIM Rules for
Companies (Shareholder RPT).
AIM Rule 13 fair and
reasonable opinion
Jonathan Robinson, being the
Director who is independent of the Director RPT and the Shareholder
RPT (together Related Party
Transactions), having consulted with the Company's nominated
adviser, Panmure Liberum Limited, considers the terms of the
Related Party Transactions to be fair and reasonable insofar as the
Company's shareholders are concerned.
Admission
Application will be made to London
Stock Exchange plc for the admission to trading on AIM of the
Subscription Shares and such number of Retail Offer Shares as are
subscribed for pursuant to the Retail Offer (Admission). It is expected that
Admission will become effective and dealings will commence at 8.00
a.m. on or around 9 December 2024.
The person responsible for arranging the release of this
announcement on behalf of the Company is Ed Hooper, Executive
Director and General Counsel of the Company.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH
IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN.
-ends-
|
For
more information, please contact:
|
|
EMV
Capital plc
|
via Rosewood
|
|
Ilian Iliev, CEO
|
|
|
|
|
|
Panmure Liberum (UK) Limited (NOMAD and Broker)
|
+44 (0)20 7886 2500
|
|
Emma Earl / Will Goode / Freddy
Crossley / Mark Rogers (Corporate Finance)
|
|
|
Rupert Dearden (Corporate
Broking)
|
|
|
|
|
|
Rosewood (Financial
PR)
|
+44 (0)20 7653 8702
|
|
John West / Llewellyn Angus / Lily
Pearce
|
|
About EMV Capital plc (EMVC)
EMV Capital plc, formerly known as
NetScientific plc, is a deep tech and life sciences venture capital
investment group with an international portfolio of high-growth
companies.
With a strategic focus on generating
superior returns for investors from the fast-growing sectors and
technologies that will define our future; EMV Capital invests in,
manages and strengthens early stage IP-rich companies.
EMV Capital holds both direct equity
stakes and carried interest in its portfolio companies, creating an
evergreen structure that supports extensive growth and value
creation. EMV Capital's investment thesis is realised through these
capital sources:
· capital-efficient investments through Group balance
sheet;
· fund
management of the Evergreen EIS and Martlet Capital
Funds;
· syndicated investments leveraging its network of third-party
investors.
EMV Capital's approach is
characterised by its proactive management style, aiming to advance
portfolio companies to critical value inflection points by actively
engaging with them. Companies are supported through Board
representation and the use of its Value Creation Services
practice.
Headquartered in London, with a
Cambridge presence and strong international links, EMV Capital is
quoted on the AIM market of the London Stock Exchange.
www.emvcapital.com
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
|
a)
|
Name
|
Dr Ilian Iliev
|
|
2
|
Reason for the notification
|
|
a)
|
Position/status
|
Director
|
|
b)
|
Initial notification
/Amendment
|
Initial Notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
|
|
a)
|
Name
|
EMV Capital plc
|
|
b)
|
LEI
|
213800N5WD46G1Y7I458
|
|
4
|
Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii) each
date; and (iv) each place where transactions have been
conducted
|
|
a)
|
Description of the financial
instrument, type of instrument
Identification code
|
EMVC 5p Ordinary Shares
GB00BN4R5Q82
|
|
b)
|
Nature of the
transaction
|
Subscription for new Ordinary
Shares
|
|
c)
|
Price(s) and volume(s)
|
|
Price(s)
|
Volume(s)
|
|
£0.50
|
200,000 shares
|
|
|
d)
|
Aggregated information
- Aggregated volume
- Price
|
N/a
|
|
e)
|
Date of the transaction
|
3 December 2024
|
|
f)
|
Place of the transaction
|
UK AIM
|