Exercise of warrants and issue of equity

RNS Number : 0105H

Strix Group PLC

01 December 2020

 

Strix Group Plc

("Strix", the "Group" or the "Company")

Exercise of warrants and issue of equity 

The Board of Strix (AIM: KETL) announces that it has made an application to the London Stock Exchange for the admission to trading on AIM ("Admission") of 3,800,000 new ordinary shares of 1p in the Company ("New Ordinary Shares").

The New Ordinary Shares are being issued pursuant to the exercise of warrants to subscribe for new Ordinary Shares at a price of 100p per Ordinary Share, generating proceeds of £3,800,000 for the Company.

The warrants were granted to Zeus Capital (Strix's NOMAD and Broker) at the time of the Company's IPO in 2017 and have been exercised in order to satisfy institutional demand. Following the exercise, the Company now has no warrants in issue.

The New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares and Admission is expected to become effective on 3 December 2020.

Total Voting Rights

From Admission the issued share capital of the Company will consist of 205,871,088 Ordinary Shares, with one voting right per share. As the Company does not hold any Ordinary Shares in treasury, the total number of Ordinary Shares and voting rights in the Company will be 205,871,088 .

From Admission, the above figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further enquiries, please contact:
Strix Group Plc	[phone]
Mark Bartlett, CEO
Raudres Wong, CFO
Zeus Capital Limited (Nominated Advisor and Joint Broker)	[phone]
Nick Cowles / Jamie Peel / Jordan Warburton (Corporate Finance) Dominic King (Corporate Broking)
Stifel Nicolaus Europe Limited (Joint Broker)	[phone]
Matthew Blawat / Francis North
IFC Advisory Limited (Financial PR and IR)	[phone]
Graham Herring / Tim Metcalfe / Florence Chandler

ABOUT STRIX GROUP PLC

Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.

Strix is admitted to trading on the AIM Market of the London Stock Exchange (AIM: KETL). 

 

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