Update on Fundraising

RNS Number : 6550X

KRM22 PLC

01 May 2019

 

KRM22 plc

("KRM22" or the "Company")

Update on Fundraising

KRM22 plc, (AIM: KRM) the technology and software investment company that focuses on risk management for capital markets, announces further to its announcement of 3 April 2019 regarding the fundraising, that Keith Todd, Executive Chairman and CEO of the Company, will subscribe for 235,295 new ordinary shares of 10 pence each in the Company ("Ordinary Shares") at a price of 85 pence (the "Subscription") which he irrevocably undertook to do should the final tranche of the fundraising subscription not complete by 30 April 2019.

Keith Todd will be making the Subscription following the publication of the Company's final results for the year ended 31 December 2018, which is expected by late May to mid-June 2019. A further announcement will be made when the Subscription is complete.

Also further to the announcement of 3 April 2019, the proposed on-market trade on behalf of Stephen Casner, Chief Executive Officer USA of the Company, to purchase 129,412 Ordinary Shares at the Issue Price from finnCap has not yet been possible to execute and settle. Stephen Casner continues to explore ways to complete this investment in the Company and if it is possible, will do so following the publication of the Company's final results as referenced above.

Capitalised terms not otherwise defined in this announcement shall have the same meaning ascribed to such terms in the Company's announcement on 3 April 2019 regarding the Fundraising, unless the context requires otherwise.

For further information please contact:

KRM22 plc                                                                                                           [e-mail]

Keith Todd CBE, Executive Chairman and CEO

Karen Bach, COO

finnCap Ltd (Nominated Adviser and Sole Broker)                                                         [phone]

Carl Holmes / Kate Bannatyne

About KRM22 plc

KRM22 is a closed-ended investment company which listed on AIM on 30 April 2018. The Company has been established with the objective of creating value for its investors through the investment in, and subsequent growth and development of, target companies in the technology and software sector, with a focus on risk management in capital markets.
 

Through its investments and the Global Risk Platform, KRM22 helps capital market companies reduce the cost and complexity of risk management. The Global Risk Platform provides applications to help address firms' regulatory, market, technology and operations risk challenges and to manage their entire enterprise risk profile.

Capital markets companies' partner with KRM22 to optimize risk management systems and processes, improving profitability and expanding opportunities to increase portfolio returns by leveraging risk as alpha.

KRM22 PLC is listed on AIM and the Group is headquartered in London, with offices in several of the world's major financial centres.

See more about KRM22 at KRM22.com.

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

 

END

 

 

UPDURSKRKBASOAR