TIDMVLS
RNS Number : 9931Q
Velocys PLC
24 June 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF VELOCYS PLC IN ANY JURISDICTION.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS
ANNOUNCEMENT.
24 June 2020
Velocys plc
("Velocys" or the " Company " ) (AIM: VLS)
PrimaryBid.com Offer
Velocys plc (AIM:VLS), the AIM quoted renewable fuels company,
is pleased to announce, a conditional offer for subscription via
PrimaryBid (the "PrimaryBid Offer") of new ordinary shares of 1 p
each in the Company ("Retail Shares") at an issue price of between
5 pence and 7 pence per new ordinary share (the "Issue Price"). As
separately announced today, the Company is also conducting a
placing of new ordinary shares at the Issue Price by way of an
accelerated bookbuild process conducted by Numis Securities Ltd
("Numis"), Canaccord Genuity Limited ("Canaccord") and Turner Pope
Investments (TPI) Ltd. ("TPI") (the "Placing"), as well as an open
offer of new ordinary shares to eligible shareholders at the Issue
Price (the "Open Offer").
The PrimaryBid Offer is conditional on the new ordinary shares
to be issued pursuant to the PrimaryBid Offer being admitted to
trading on AIM ("Admission"). Admission of the Retail Shares is
expected to be take place at 8.00 a.m. on 16 July 2020 . Completion
of the PrimaryBid Offer is conditional on the Placing being or
becoming wholly unconditional.
The PrimaryBid Offer is also conditional upon the passing of
certain resolutions in order to ensure that the directors of the
Company have the necessary authorities and powers to allot the
Retail Shares. A general meeting of the Company is therefore being
convened for the purpose of considering those resolutions at 10.30
a.m. on 14 July 2020 at Magdalen Centre, Robert Robinson Avenue,
The Oxford Science Park, Oxford OX4 4GA.
The Company intends to use the net proceeds raised by the
PrimaryBid Offer to extend the Company's cashflow runway, maintain
a reasonable balance sheet as well as to accelerate the upgrading
of the reactor manufacturing capability, including to implement
lean manufacturing, full automation of certain welding steps and
potentially the three dimensional printing of certain
sub-components .
PrimaryBid Offer
The Company values its retail investor base ,which has supported
the Company alongside institutional investors over several years.
Given the longstanding support of retail shareholders, the Company
believes that it is appropriate to provide retail and other
interested investors the opportunity to participate in the
PrimayBid Offer. The Company is therefore pleased to provide
private and other investors the opportunity to participate in the
PrimaryBid Offer by applying exclusively through the
www.PrimaryBid.com platform and the PrimaryBid mobile app available
on the Apple App Store and Google Play.
The PrimaryBid Offer, via the PrimaryBid.com platform, will be
open to individual and institutional investors from 4:36p.m. on 24
June 2020 and will close at the same time that the bookbuilding
process completes. The PrimaryBid Offer may close early if it is
oversubscribed.
Subscriptions under the PrimaryBid Offer will be considered by
the Company on a "first come, first served" basis, subject to
conditions (which are available to view on PrimaryBid.com).
The total consideration under the PrimaryBid Offer and the Open
Offer is less than EUR8 million (or an equivalent amount) in
aggregate. Accordingly, none of the Placing, the PrimaryBid Offer
or the Open Offer constitute an offer to the public requiring an
approved prospectus under section 85 of Financial Services and
Markets Act 2000 or the approval of a prospectus by the Financial
Conduct Authority. The PrimaryBid Offer is not being made into any
jurisdiction other than the United Kingdom.
There is a minimum subscription of GBP1,000 and a maximum
subscription of GBP100,000 per investor under the terms of the
PrimaryBid Offer, which is open to existing shareholders and other
investors subscribing via PrimaryBid.com.
The Company in consultation with PrimaryBid reserves the right
to scale back any order at its discretion. The Company and
PrimaryBid reserve the right to reject any application for
subscription under the PrimaryBid Offer without giving any reason
for such rejection.
No commission is charged to investors on applications to
participate in the PrimaryBid Offer made through PrimaryBid. It is
vital to note that once an application for Retail Shares has been
made and accepted via PrimaryBid, an application cannot be
withdrawn.
The Retail Shares will, when issued, be credited as fully paid
and rank pari passu in all respects with the other ordinary shares
of the Company then in issue, including all rights to all dividends
and other distributions declared, made or paid following
Admission.
For further information on PrimaryBid.com or the procedure for
applications under the PrimaryBid Offer, visit www.PrimaryBid.com
or call PrimaryBid.com on +44 20 3026 4750. The terms and
conditions on which the PrimaryBid Offer is made, including the
procedure for application and payment for Retail Shares, is
available to all persons who register with PrimaryBid.com.
Velocys
Henrik Wareborn, CEO
Andrew Morris, CFO
Lak Siriwardene, Head of Communications & Sustainability +44 1865 800821
PrimaryBid Limited
Kieran D'Silva / James Deal + 44 20 3026 4750
This announcement should be read in its entirety. In particular,
the information provided in the "Important Notices" section of this
announcement should be read and understood.
IMPORTANT NOTICES
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for Retail Shares and
investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for Retail Shares on investment in
securities such as the Retail Shares if they are in any doubt.
The distribution of this announcement outside the United Kingdom
may be restricted by law and therefore any persons outside the
United Kingdom into whose possession this announcement comes should
inform themselves about and observe any such restrictions as to the
PrimaryBid Offer, the Retail Shares and the distribution of this
announcement. Any failure to comply with such restrictions may
constitute a violation of the securities laws of any jurisdiction
outside of the United Kingdom. This announcement does not
constitute an offer to sell or an invitation to subscribe for, or
the solicitation of an offer to buy or to subscribe for, shares in
any jurisdiction in which such an offer or solicitation is
unlawful. In particular, this announcement is not for release,
publication or distribution, directly, or indirectly, in whole or
in part, in, into or from the United States, Australia, New
Zealand, Canada, the Republic of South Africa, Japan or to any US
Person, or any national, resident or citizen of Australia, New
Zealand, Canada, the Republic of South Africa or Japan. No offering
of Retail Shares, or any other securities of the Company, is being
made in the United States and this announcement, and the
information contained herein, does not constitute an offer to sell
or a solicitation of an offer to buy any Retail Shares or any other
securities of the Company in the United States.
This announcement contains (or may contain) certain
forward-looking statements with respect to certain of the Company's
current expectations and projections about future events. These
statements, which sometimes use words such as "anticipate",
"believe", "intend", "estimate", "expect" and words of similar
meaning, reflect the directors' beliefs and expectations and
involve a number of risks, uncertainties and assumptions that could
cause actual results and performance to differ materially from any
expected future results or performance expressed or implied by the
forward-looking statement. Statements contained in this
announcement regarding past trends or activities should not be
taken as a representation that such trends or activities will
continue in the future. The Information contained in this
announcement Is subject to change without notice and the Company
does not assume any responsibility or obligation to update publicly
or review any of the forward-looking statements contained herein.
You should not place undue reliance on forward-looking statements,
which speak only as of the date of this announcement.
END
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
OUPKKQBDABKDDAB
(END) Dow Jones Newswires
June 24, 2020 12:16 ET (16:16 GMT)
Velocys (LSE:VLS)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Velocys (LSE:VLS)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024