Voluntary Lock-In Extensions

RNS Number : 1421S

Zenova Group PLC

12 July 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 ("MAR") 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 BE IN THE PUBLIC DOMAIN

12 July 2022

Zenova Group PLC

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

  Voluntary Lock-In Extension For Directors and Founders

Zenova Group PLC (AIM: ZED), a provider of innovative fire safety and heat management technology and products, announces that the executive directors who hold Ordinary Shares in the Company and the Locked-in Shareholders of the Company (as defined in the Company's Admission Document published on 19 July 2021), which includes the Company's founders, have entered into a new Lock-In Agreement.

Under the new Lock-In Agreement, for a period of 12 months following the 12 month anniversary of the Company's Admission to AIM, the executive Directors who hold Ordinary Shares and the Locked-in Shareholders have agreed that they will not dispose of any of the Ordinary Shares held by them (or enter into a transaction with the same economic effect); in each case subject to certain limited exceptions including in the event of an intervening court order, the death of a party who is subject to the lock-in, in respect of an acceptance of a takeover offer for the Company which is open to all shareholders. The new lock-in agreement runs until July 2023.

The new Lock-in Agreement replaces various lock-in restrictions on the various parties regarding the disposal of Ordinary Shares after the 12 months anniversary of Admission, as detailed in paragraph 21.8 of Part 4 of the Company's Admission Document.

Commenting on the news, Tony Crawley, CEO of Zenova Group PLC said: "The Directors and founders of Zenova have agreed to the new lock-in agreement as we feel it demonstrates commitment to the Company and underlines our collective belief in the Company's growth strategy and equity story."

For further information please contact:

Zenova Group PLC
Tony Crawley, Chief Executive Officer Don Nicolson, Non-Executive Chairman	Via Orana Corporate LLP: Anthony Eastman Tel: [phone]
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Adam Dawes	Tel: [phone]
SI Capital Limited (Broker)
Nick Emerson	Tel: [phone]
Redbine Ltd (Media Enquiries)
Paul Dulieu	Tel: [phone]    [phone] Email: [e-mail]

About Zenova Group PLC:

The Group, through Zenova Ltd, is the holder of intellectual property that underpins a suite of fire safety and temperature management products and technology. The product range is applicable to industrial, commercial, and residential markets. The Group's products include fire retardant paints, insulating paints and render, fire extinguishing fluid and applications. Through innovative development, and a refined formulation and development process, Zenova provides industry leading solutions across a range of fire protection and temperature management problems, comprising:

Zenova FP

A water-based fire-protection paint that prevents ignition and spread of fire. It can be used in commercial, industrial, and domestic applications on variety of materials, from wood to metal.

Zenova FX

Patent pending fire extinguisher filled with proprietary Zenova Fluid (Zenova FXB) that extinguishes all types of fires, reduces chances of re-ignition, works in cold (-15 ̊C) conditions, is non-toxic and does not produce harmful by-products.

Zenova IP

Thermal insulation paint that creates a thermal barrier, provides thermal reflection of sunrays and infrared radiation, anti-condensation, and anti-mould properties. It can be applied to virtually any exterior or interior material, regardless of the surface.

Zenova IR

Thermal insulation render to enhance the effectiveness of insulation by creating a thermo shield. It fills all cavities and gaps regardless of geometric shape and creates a vacuum - the most effective insulator.

Zenova CS

Patent pending next generation ceiling sprinkler filled with proprietary Zenova Fluid (Zenova FXB) that removes the need to install large fluid tanks, piping, complicated equipment, and software. This sprinkler could be installed in the kitchen.

The Group has achieved this without compromising the sustainability of natural and economical resources, including personal health and safety, with ecologically sound products.

Further information on the Group can be found at  www.zenovagroup.com

 

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