TIDMITX
RNS Number : 7408Q
Itaconix PLC
22 February 2023
22 February 2023
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT
CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN
OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY
SHARES OF THE COMPANY.
This announcement should be read in conjunction with the full
text of the Circular issued on 6 FEBRUARY 2023. All capitalised
terms used in this announcement and not otherwise defined shall
have the meanings given to them in the Circular.
Itaconix plc
("Itaconix", the "Company" or the "Group")
Results of Open Offer, General Meeting
and Total Voting Rights
The Board of Itaconix plc, a leading innovator in sustainable
plant-based polymers used to decarbonise everyday consumer
products, is pleased to announce that it has received valid
acceptances from Qualifying Shareholders in respect of 4,513,420
Open Offer Shares. This represents approximately 58.2 per cent. of
the 7,760,852 New Ordinary Shares available under the Open
Offer.
The Board also announces that at the General Meeting held
earlier today, all Resolutions were duly passed by
Shareholders.
The Company has therefore raised, in aggregate, gross proceeds
of approximately GBP10.5 million through the Placing, Subscription
and Open Offer.
Admission and Total Voting Rights
Application has been made for the 138,563,048 New Ordinary
Shares (being the 133,094,856 Conditional Placing Shares , 954,772
Subscription Shares and 4,513,420 Open Offer Shares) to be admitted
to trading on AIM. It is expected that the Admission of the
Conditional Placing Shares, the Subscription Shares and the Open
Offer Shares will occur and dealings in the New Ordinary Shares
will commence at 8.00 a.m. on 27 February 2023.
Following Admission, the total number of Ordinary Shares in
issue will be 674,306,055. There are no Ordinary Shares held in
treasury. Accordingly, the total number of voting rights in the
Company on Admission will be 674,306,055. This figure may be used
by Shareholders as the denominator for the calculations to
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.
John R. Shaw, CEO of Itaconix, commented:
" We have successfully raised gross proceeds of GBP10.5 million.
I am extremely pleased to welcome new institutional shareholders to
the Company. We are now entering a new stage of development as we
aim to become a much larger sustainable ingredient company. Our
strong balance sheet now gives us the opportunity to target higher
revenue growth from our current ingredients. There are a number of
exciting opportunities for us to develop new ingredients and
increase revenues from our substantial itaconate technology
platform. We approach the future with more commercial progress,
more resources, more potential, and more optimism than ever before
."
For further information please contact:
Itaconix plc +1 603 775 4400
John R. Shaw / Laura Denner
Belvedere Communications +44 (0) 20 3008 6864
John West / Llew Angus
finnCap
Nominated Adviser & Broker, Bookrunner +44 (0) 20 7220 0500
Ed Frisby / Abigail Kelly (Corporate Finance)
Andrew Burdis / Sunila de Silva (ECM)
Canaccord Genuity
Co-Lead Manager +44 (0) 20 7523 8000
Adam James / Sam Lucas (Investment Banking)
About Itaconix
Itaconix uses its proprietary plant-based polymer technology
platform to produce and sell specialty ingredients that improve the
safety, performance, and sustainability of consumer products. The
Company's current ingredients are enabling and leading new
generations of products in cleaning, hygiene, and beauty.
Itaconix's contributions to the global low carbon economy are
recognised by the London Stock Exchange's Green Economy Mark.
www.itaconix.com
The Notification of Dealing Forms set out below are provided in
accordance with the requirements of MAR.
1 Details of the person discharging managerial responsibilities
("PDMR") / person closely associated ("PCA")
a) Name John R. Shaw
------------------------------- -----------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position/status Chief Executive Officer
------------------------------- -----------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Itaconix plc
------------------------------- -----------------------------------------
b) LEI 213800OKA3GOCK2ZA496
------------------------------- -----------------------------------------
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 New Ordinary Shares of 1 pence each
Financial instrument,
type of instrument
Identification code GB00B84LVH87
------------------------------- -----------------------------------------
b) Nature of the transaction Purchase of New Ordinary Shares
------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5.1p 79,564
----------
------------------------------- -----------------------------------------
d) Aggregated information: See 4c) above
* Aggregated volume
* Price
------------------------------- -----------------------------------------
e) Date of the transaction 27 February 2023
------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
------------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
("PDMR") / person closely associated ("PCA")
a) Name Laura Denner
------------------------------- -----------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position/status Chief Financial Officer
------------------------------- -----------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Itaconix plc
------------------------------- -----------------------------------------
b) LEI 213800OKA3GOCK2ZA496
------------------------------- -----------------------------------------
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 New Ordinary Shares of 1 pence each
Financial instrument,
type of instrument
Identification code GB00B84LVH87
------------------------------- -----------------------------------------
b) Nature of the transaction Purchase of New Ordinary Shares
------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5.1p 79,564
----------
------------------------------- -----------------------------------------
d) Aggregated information: See 4c) above
* Aggregated volume
* Price
------------------------------- -----------------------------------------
e) Date of the transaction 27 February 2023
------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
------------------------------- -----------------------------------------
1 Details of the person discharging managerial responsibilities
("PDMR") / person closely associated ("PCA")
a) Name Peter Nieuwenhuizen
------------------------------- -----------------------------------------
2. Reason for the Notification
--------------------------------------------------------------------------
a) Position/status Non-Executive Chair
------------------------------- -----------------------------------------
b) Initial notification/Amendment Initial notification
------------------------------- -----------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Itaconix plc
------------------------------- -----------------------------------------
b) LEI 213800OKA3GOCK2ZA496
------------------------------- -----------------------------------------
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 New Ordinary Shares of 1 pence each
Financial instrument,
type of instrument
Identification code GB00B84LVH87
------------------------------- -----------------------------------------
b) Nature of the transaction Purchase of New Ordinary Shares
------------------------------- -----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
5.1p 795,644
----------
------------------------------- -----------------------------------------
d) Aggregated information: See 4c) above
* Aggregated volume
* Price
------------------------------- -----------------------------------------
e) Date of the transaction 27 February 2023
------------------------------- -----------------------------------------
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
------------------------------- -----------------------------------------
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END
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