Kromek Group PLC Partial Conversion of Convertible Loan Notes (3817M)
14 Septiembre 2023 - 1:00AM
UK Regulatory
TIDMKMK
RNS Number : 3817M
Kromek Group PLC
14 September 2023
14 September 2023
Kromek Group plc
("Kromek" or the "Company" or the "Group")
Partial Conversion of Convertible Loan Notes
Kromek (AIM: KMK), a leading developer of radiation and
bio-detection technology solutions for the advanced imaging and
CBRN detection segments, announces that it has issued and allotted
7,830,628 new ordinary shares in the Company ("Shares") at a
conversion price of 5.11 pence per Share in order to settle the
exercise of convertible loan notes and repayment of interest to
certain convertible loan note holders under an existing GBP 2.84 m
convertible loan note agreement, the terms of which were announced
on 5 and 23 August 2022 ("Partial Conversion"). The issue price of
5.11 pence per Share represents the volume-weighted average price
of the Company's ordinary shares for the ten-day period up to and
including 8 September 2023. The Partial Conversion reduces the
amount owing on the convertible notes by GBP261,000, with
GBP2,579,000 remaining.
Application has been made for the Shares to be admitted to
trading on AIM and dealings are expected to commence on or around
8.00 a.m. on 19 September 2023 ("Admission").
The Shares will rank pari passu with the existing shares of the
Company. Following Admission, the Company's issued share capital
will consist of 600,246,820 ordinary shares, none of which are held
in treasury. Accordingly, the figure of 600,246,820 may be used by
shareholders 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:
Kromek Group plc
Arnab Basu, CEO
Paul Farquhar, CFO +44 (0)1740 626 060
Cavendish Capital Markets Limited (Nominated
Adviser and Broker)
Geoff Nash/Giles Balleny/Seamus Fricker -
Corporate Finance
Tim Redfern/Charlotte Sutcliffe - ECM +44 (0)20 7220 0500
Michael Johnson/Tamar Cranford-Smith - Sales
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury/Henry Gamble +44 (0)20 4582 3500
Kromek Group plc
Kromek Group plc is a leading developer of radiation detection
and bio-detection technology solutions for the advanced imaging and
CBRN detection segments. Headquartered in County Durham, UK, Kromek
has manufacturing operations in the UK and US, delivering on the
vision of enhancing the quality of life through innovative
detection technology solutions.
The advanced imaging segment comprises the medical (including CT
and SPECT), security and industrial markets. Kromek provides its
OEM customers with detector components, based on its core cadmium
zinc telluride (CZT) platform, to enable better detection of
diseases such as cancer and Alzheimer's, contamination in
industrial manufacture and explosives in aviation settings.
In CBRN detection, the Group provides nuclear radiation
detection solutions to the global homeland defence and security
market. Kromek's compact, handheld, high-performance radiation
detectors, based on advanced scintillation and solid-state readout
technology, are primarily used to protect critical infrastructure,
events, personnel and urban environments from the threat of 'dirty
bombs'.
The Group is also developing bio-security solutions in the CBRN
detection segment. These consist of fully automated and autonomous
systems to detect a wide range of airborne pathogens.
Kromek is listed on AIM, a market of the London Stock Exchange,
under the trading symbol 'KMK'.
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