TIDMDVRG
RNS Number : 7794E
Deepverge PLC
31 October 2022
The following amendments have been made to the "Broker Offer to
raise a maximum of GBP2.5m" announcement released on 27 October
2022 at 0701 under RNS No 2574E.
The changes clarify that (i) the Offer is open to "existing
shareholders or other interested parties", and deletes reference to
"qualified" investors, and (ii) notes that the closing date for the
Offer was subsequently extended to 430 p.m today (as notified at
218 on Monday 31 October).
All other details remain unchanged.
The full amended text is shown below.
DeepVerge PLC
("DeepVerge" or "Company")
Broker Offer to raise a maximum of GBP2.5m - replacement
-- DeepVerge (AIM: DVRG) announces a Broker Offer through Turner
Pope Investments (TPI) Limited. ("TPI")
-- The Issue Price of the Broker Offer is 2 pence per New Ordinary Share.
-- Every 4 (four) Broker Offer shares issued will have 1 (one)
Placing Warrant attached, exercisable at 3 pence per Placing
Warrant, for a period of 12 months from Admission of the Broker
Offer shares.
-- The Broker Offer has an initial expected value of GBP1.0
million, but may be extended to GBP2.5 million with the express
agreement of the Company.
-- Existing Shareholders or other interested parties who wish to
register their interest in participating in the Broker Offer should
click on the following TPI platform link: DeepVerge - TPI Broker
Offer (URL: https://forms.office.com/r/nptcgkst65)
-- All bids communicated to TPI under the Broker Offer are
subject to review and acceptance by the Company and TPI and
priority will be given to Existing Shareholders in the event of
oversubscription.
-- The Broker Offer remains open until 4:30 p.m. on Friday, 28
October 2022 (subsequently extended to 4.30 p.m. on Monday 31
October 2022 in an announcement dated 31 October 2022).
-- All Broker Offer shares will be issued subject to
shareholders' approval at a General Meeting expected to take place
on 14 November 2022.
Turner Pope Broker Offer
DeepVerge, the environmental and life science group of companies
that develops and applies AI and IoT technology to analytical
instruments for the analysis and identification of bacteria, virus
and toxins, is pleased to announce that it wishes to provide
Existing Shareholders and other investors who did not participate
in the oversubscribed Fundraising announced today the opportunity
to invest in the Company. Accordingly, under the Placing Agreement,
TPI has been granted an option in the form of a Broker Offer under
which TPI will, as agent for the Company, invite subscriptions for
additional new Ordinary Shares with a value expected to be around
GBP1.0 million at the Issue Price but which may be increased up to
GBP2.5 million subject to agreement between TPI and the Company.
Accordingly, the maximum number of New Ordinary Shares to be issued
under the Broker Offer at the Issue Price is 125,000,000. The
maximum number of Placing Warrants to be issued under the Broker
Offer is 31,250,000.
The Broker Offer opens immediately and will close at 4.30 p.m.
on Monday 31 October 2022.
As far as is practical, participation in the Broker Offer will
be prioritised for shareholders (direct or indirect) on the
register at the close of business on 26 October 2022 ("Existing
Shareholders"). If the expected maximum subscription under the
Broker Offer is taken up, it will raise an additional GBP2.5
million, before expenses.
To subscribe for Broker Offer Shares, Existing Shareholders or
other interested parties who wish to register their interest in
participating in the Broker Offer should click on the following
link: DeepVerge - TPI Broker Offer (URL:
https://forms.office.com/r/nptcgkst65)
A further announcement will be made following the end of the
period during which the Broker Offer is open. If the Broker Offer
is not fully subscribed by 4.30 p.m. on 31 October 2022, orders
from eligible investors will be satisfied in full, and the balance
of the Broker Offer shall lapse.
General Meeting
Completion of the Broker Offer is conditional on the relevant
Resolutions being passed at the General Meeting, which is expected
to take place on 14 November 2002. Admission of the Broker Offer
Shares is expected on or around 16 November 2002. Further detail on
the General Meeting and key dates for Admission of New Ordinary
Shares are contained in the RNS detailing the Fundraising, also
issued today, and will be available in the Circular to be published
to the Company's website www.deepverge.com.
For further information, please contact:
+44 (0) 1904 40
DeepVerge plc Ross Andrews, Chairman 4036
SPARK Advisory Partners
Limited +44 (0) 113 370
(Nominated Adviser) Neil Baldwin 8974
Turner Pope Investments
(TPI) Limited Andy Thacker/James +44 (0) 20 3657
(Broker) Pope 0050
Market Abuse Regulation (MAR) Disclosure
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
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END
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