LONDON - Quadrise Plc (AIM:QED), a supplier of alternative energy solutions, announced on Friday the launch of a retail offer to raise up to £1 million by issuing new ordinary shares. The offer, priced at 3 pence per share, is exclusively available to existing retail shareholders in the United Kingdom (TADAWUL:4280).
The company, which had earlier today announced the successful conditional raising of £4.53 million through a placing and director subscription, is extending the opportunity to its retail shareholder base to participate in the funding initiative. The retail offer will consist of up to 33,333,333 new ordinary shares, with the potential to increase the amount based on additional demand.
The net proceeds from the retail offer are earmarked for product and business development, equipment purchases, and to reinforce the company's balance sheet. This move follows the company's last annual general meeting on November 22, 2024, where authorities were granted for the allotment of shares and dis-application of pre-emption rights.
The offer, not part of the earlier placing and subscription, is contingent on the completion of those transactions and the admission of the retail offer shares to trading on the AIM market operated by the London Stock Exchange (LON:LSEG). The expected date for these shares to begin trading is 8.00 a.m. on February 3, 2025, subject to agreement between the involved parties.
Retail shareholders interested in the offer can participate through financial intermediaries listed on a dedicated website. Shore Capital Stockbrokers Limited is acting as the retail offer coordinator, and intermediaries must be registered on the BookBuild platform to take part.
The retail offer opened at 7.05 am on January 24, 2025, and is anticipated to close at 4.30 pm on January 30, 2025, unless it closes early due to being oversubscribed. Intermediaries' closing times may vary, and investors are advised to confirm any potential commissions, fees, or expenses with their respective intermediaries.
This announcement is based on a press release statement and contains information that is now considered to be in the public domain.
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