Exercise of outstanding Subscription Share Rights

RNS Number : 6455K

Geiger Counter Ltd

06 May 2022

 

6 May 2022

GEIGER COUNTER LIMITED
(THE "COMPANY")

Exercise of outstanding Subscription Share Rights

Geiger Counter Limited announces that further to the announcement on 5 May 2022, the Subscription Trustee has exercised all of the 4,474,044 outstanding Subscription Rights (the "Rump").  The ordinary shares of no par value in the capital of the Company ("Ordinary Shares") that arose from the exercise of the Rump have been sold by finnCap Limited by way of a secondary market placing, raising total net proceeds for the Company of £1.69 million.  After deduction of the cost of exercising the Subscription Rights of the Rump and all the costs and expenses of the Subscription Trustee, the Registrar and the secondary market placing, any resultant net proceeds will be distributed by the Registrar to the holders of the Rump in proportion to their Shareholding on the Record Date by 31 May 2022.

Following the exercise of all Subscription Rights, the Company has raised a total of £6.73 million resulting in the net assets of the Company now exceeding £70 million.  The funds raised will be invested in a manner consistent with the stated investment objectives of the Company.

Accordingly, the Company announces that it will be issuing and allotting a further 4,474,044 Ordinary Shares, pertaining to the outstanding Subscription Rights exercised by the Subscription Trustee, subject to admission to trading.  Application will be made for the new Ordinary Shares to be admitted to trading on TISE and dealings on LSE SETSqx.  It is expected that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 10 May 2022.

Total Voting Rights

For the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules ("DTRs"), following Admission the issued ordinary share capital of the Company will consist of  133,853,153 Ordinary Shares with voting rights attached.  The Company does not hold any shares in treasury.  This figure of 133,853,153 Ordinary Shares may be used by the Company's shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the DTRs.

The information contained within this RNS is considered to be inside information prior to its release.

For further information, please contact:

CQS (UK) LLP Craig Cleland	[phone]
finnCap Limited William Marle / Milesh Hindocha - Corporate Finance	[phone]
Mark Whitfeld / Pauline Tribe - Sales	[phone]
R&H Fund Services (Jersey) Limited Jane De Barros-Sousa	[phone]

 

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