NGHT Nightcap Ltd

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATIONS (EU) NO. 596/2014 WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

12 June 2024

Nightcap plc

("Nightcap " or the "Company")

Update on the Company's up to £3.5 million fundraising

Further to the Company's announcement on 22 May 2024 that it was initiating a fundraising of up to £3.5 million, Nightcap, the owner and operator of 46 premium bars, announces that it has raised an additional £1.5 million, before expenses, through a further subscription for 30,000,000 New Ordinary Shares (the "Additional Subscription Shares") at an Issue Price of five pence per New Ordinary Share (the "Additional Subscription").

On 22 May 2024, the Company announced that it had raised £0.75 million, before expenses, through a subscription for 15,000,000 New Ordinary Shares (the "Initial Subscription Shares") at the same Issue Price (the "Initial Subscription"). The Company has therefore now received subscription commitments for a total of £2.25 million, before expenses.

Timing of admission of New Ordinary shares

Application will be made for the Additional Subscription Shares to be admitted to AIM ("First Admission"), which is expected to occur on or before 25 June 2024. A further announcement regarding the settlement and completion of the Additional Subscription and First Admission will be made in due course.

Application will be made for the Initial Subscription Shares to be admitted to AIM ("Second Admission"), which is continued to be expected to occur on or before 2 September 2024.  A further announcement regarding the settlement and completion of the Initial Subscription and Second Admission will be made in due course.

The Additional Subscription is not conditional on the issue of further New Ordinary Shares pursuant to the Fundraising. The obligations of investors pursuant to the Additional Subscription will not be affected if the remainder of the Fundraising is not completed for any reason. 

Capitalised terms in this announcement shall have the meanings given to such terms in the announcement issued by the Company dated 22 May 2024 unless otherwise defined herein.

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