Drumz Plc Issue of Equity

 
TIDMDRUM 
 
30 November 2021 
 
This announcement includes inside information as defined in Article 7 of the 
Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the 
Company's obligations under Article 17 of those Regulations. 
 
                                  Drumz plc 
 
                          ('Drumz' or the 'Company') 
 
                           Placing to raise £450,000 
 
The Company is pleased to announce that it has raised £450,000 before expenses 
through the issue of 75,000,000 ordinary shares of 0.1p each ("Ordinary 
Shares") at an issue price of 0.6 pence each (the "Issue Price") (the "Placing 
Shares") (the "Placing"). Investors in the Placing will also receive 1 warrant 
to subscribe for one Ordinary Share for every one Placing Shares, exerciseable 
at 1.0 pence, for a period of up to 12 months from date of issue. 
 
Peterhouse Capital acted as broker in relation to the Placing. 
 
The directors of the Company, intend to subscribe for an aggregate of up to 
7,000,001 Placing Shares as part of the Placing at the Issue Price of 0.6 pence 
per share. As set out below: 
 
The directors of the Company        Number of         Number of 
("Directors")                       Ordinary Shares   warrants 
                                    intended to be    subscribed for 
                                    subscribed for    pursuant to the 
                                    pursuant to the   placing 
                                    placing 
 
Simon Bennett, Non-Executive        2,000,000         2,000,000 
Chairman 
 
Angus Forrest, Chief Executive      1,666,667         1,666,667 
 
Nish Malde, Non-Executive Director  1,666,667         1,666,667 
 
John Wakefield, Non-Executive       1,666,667         1,666,667 
Director 
 
This intention is not legally binding and any subscription by the directors 
pursuant to the Placing will be announced through a Regulatory Information 
Service. 
 
Drumz has undertaken the Placing to provide additional cash resources for 
working capital purposes and to enable the Board to respond to investment 
opportunities. 
 
The Issue Price represents a premium of nine per cent compared to the fund 
raise announced 1 October 2020 and a discount of seven per cent. compared to 
the closing middle market price of 0.65 pence on 29 November 2021, being the 
last practicable date prior to the announcement of the Placing. The Placing is 
not being underwritten and is conditional on admission of the Placing Shares to 
trading on AIM. The Placing is being conducted pursuant to the existing 
authorities granted to the Directors of the Company at its annual general 
meeting on 18 June 2021. The Placing Shares represent approximately 17.8 per 
cent. of the Company's issued share capital as enlarged by the Placing Shares. 
 
Application has been made to the London Stock Exchange for the Placing Shares 
to be admitted to trading on AIM ("Admission") and it is expected that such 
Admission will occur at 8.00 a.m. on 6 December 2021. The Placing Shares will 
be issued credited as fully paid and will rank in full for all dividends and 
other distributions declared, made or paid after the admission of the Placing 
Shares, respectively and will otherwise be identical to and rank on Admission 
pari passu in all respects with the existing Ordinary Shares. The Placing 
Shares are not being made available to the public and are not being offered or 
sold into any jurisdiction where it would be unlawful to do so. 
 
Following Admission, the Company will have 419,822,048 Ordinary Shares in 
issue, none of which will be held in treasury. Accordingly, the total number of 
voting rights in the Company will be 419,822,048 and shareholders may use this 
figure as the denominator for the calculations by which they will determine if 
they are required to notify their interest in, or a change to their interest 
in, the Company under the FCA's Disclosure Guidance and Transparency Rules. 
 
For further information please 
contact: 
 
Drumz Plc                              www.drumzplc.com 
 
Angus Forrest                          +44 (0) 20 3582 0566 
 
WH Ireland (NOMAD & Joint Broker)      www.whirelandcb.com 
 
Mike Coe / Sarah Mather                020 7220 1666 
 
Peterhouse Capital Limited (Joint 
broker) 
 
Lucy Williams / Duncan Vasey           020 7469 0936 
 
 
 
END

(END) Dow Jones Newswires

November 30, 2021 09:34 ET (14:34 GMT)

Energiser Investments (LSE:ENGI)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024