Quadrise Announces Proposed Placing, Subscription and Retail Offer

Source: www.gulfoilandgas.com 1/23/2025, Location: Europe

Quadrise Plc, the supplier of innovative energy solutions for a cleaner planet, today announces its intention to conduct a placing (the "Placing") and subscription (the "Subscription") of new ordinary shares of £0.01 each in the capital of the Company ("Ordinary Shares") at a price of 3 pence per new Ordinary Share (the "Issue Price") to institutional and other investors to raise gross proceeds of a minimum of £3 million.

In addition to the Placing and the Subscription, and in recognition of the continuing support from long-term shareholders, the Company also announces that it will be providing existing eligible Retail Investors with the opportunity to participate in a retail offer to raise additional gross proceeds of up to £1 million at the Issue Price (the "Retail Offer") (together with the Placing and Subscription, the "Fundraise"). A separate announcement will be made by the Company in due course regarding the Retail Offer and its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing and the Subscription.

The Placing will be conducted through an accelerated bookbuild (the "Accelerated Bookbuild") which will be launched immediately following this Announcement. The Placing is subject to the terms and conditions set out in Appendix 1 to this Announcement.

Shore Capital Stockbrokers Limited ("Shore Capital") and VSA Capital Limited ("VSA Capital") (together, the "Bookrunners") are acting as joint bookrunners and placing agents in connection with the Placing. Shore Capital will also be acting as retail offer coordinator in relation to this Retail Offer. Cavendish Capital Markets Limited ("Cavendish") is acting as nominated adviser to the Company.

The New Ordinary Shares to be issued in the Fundraise will be issued and allotted under the Company's existing allotment and disapplication of pre-emption rights authorities obtained at the Company's last annual general meeting held on 22 November 2024.


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