THIS ANNOUNCEMENT CONTAINS
INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
20 January
2025
SulNOx Group
Plc (the "Company" or "SulNOx")
Exercise of Share
Options
Issue of
Shares
(Aquis Stock Exchange:
SNOX)
Exercise of Share Options
The board of directors of the
Company (the "Board")
announces that a former director has exercised 350,000 options (the
"Options") for ordinary
shares of 2 pence each in the capital of the Company ("Ordinary Shares"), at an exercise price
of 36 pence per Ordinary Share (the "Option Shares"). The £126,000
received by the Company will be used for general working capital
purposes.
Issue of Shares to Consultants
The Company has issued a total of
91,203 new Ordinary Shares in settlement of invoices from
consultants (the "Consultancy
Shares"), made as follows:
·
72,911 Ordinary Shares at a price of 39.50 pence
per Ordinary Share in settlement of a liability of £28,800.00;
and
·
18,292 Ordinary Shares at a price of 41.00 pence
per Ordinary Share in settlement of a liability of
£7,500.00.
The prices of the above issues have
been calculated on the average share price for the period of time
over which the services were delivered and the terms of the
consultants' contracts.
Admission and Total Voting Rights
An application will be made to admit
the Option Shares and the Consultancy Shares for trading on AQSE
Growth Market, which is anticipated to occur on or around 24
January 2025 ("Admission").
On Admission, the Company will have 127,025,073
Ordinary Shares in issue, each with one voting right. The Company
does not hold any shares in treasury and therefore the total number
of voting rights in the Company is 127,025,073. This figure should
be used by shareholders from Admission 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.
Holding in the
Company & Related Party Transaction
The issue of the 72,911
Consultancy Shares set out above is to Tergeo Limited,
in relation to the consultancy contract set out in the announcement
of 27 June 2023. Tergeo Limited is a company in which
Constantine Logothetis holds a majority interest. Mr
Logothetis has a total current interest (including indirect
holdings) in 32,771,264 Ordinary Shares, 25.89% of the current
issued Ordinary Shares. On Admission, assuming no other
dealings since his last disclosure, Mr Logothetis will have a total
interest (including indirect holdings) in 32,844,175 Ordinary
Shares, 25.86% of the Ordinary Shares.
As Mr Logothetis has an interest in over 10% of
the Ordinary Shares, the issue of the new Ordinary Shares to Tergeo
Limited constitutes a related party transaction under the AQSE
Growth Market (Apex Segment) Rules. The consultancy agreement
with Tergeo Limited is proving to be commercially beneficial and
the settlement of the liability through the issue of Ordinary
Shares will conserve the Company's cash resources. The
directors of the Company, having exercised reasonable care, skill
and diligence, believe the issue of new Ordinary Shares to Tergeo
Limited to be fair and reasonable as far as the shareholders of the
Company are concerned.
- Ends -
For further information please
contact:
|
SulNOx Group plc
Steven
Cowin, CFO
|
Tel: 07624 491 821
|
|
|
|
|
Allenby Capital Limited
(AQSE Corporate Adviser)
Nick Harriss / John
Depasquale
|
Tel: 020 3328 5656
|
