Block listing application

Kooth PLC

01 September 2023

 

1 September 2023

Kooth plc

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

Block listing application

Kooth announces that an application has been made to the London Stock Exchange for a block listing of securities in respect of 3,600,000 ordinary shares of 5 pence each (the "New Ordinary Shares") to be admitted to trading on AIM. It is expected that admission will become effective on 5 September 2023.

The New Ordinary Shares will be issued from time to time in order to satisfy the grant of awards under the Kooth plc Long Term Incentive Plan.

When issued, the New Ordinary Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 5 pence each in the capital of the Company ("Ordinary Shares").

The Company will make six-monthly announcements of the utilisation of the block admission, in line with its obligations under AIM Rule 29. 

ENDS

Enquiries: Kooth plc
Tim Barker, CEO Sanjay Jawa, CFO	[e-mail]
Panmure Gordon, Nominated Adviser and Joint Broker Corporate Finance: Dominic Morley, James Sinclair-Ford, Daphne Zhang Corporate Broking: Rupert Dearden, James Todd	[phone]
Stifel Nicolaus Europe Limited, Joint Broker Ben Maddison, Nick Adams, Nicholas Harland, Richard Short	[phone]
FTI Consulting Jamie Ricketts, Alex Shaw, Usama Ali	[e-mail]

About Kooth

Kooth (AIM:KOO) is a global leader in youth digital mental well-being. Our mission is to provide accessible and safe spaces for everyone to achieve better mental health. Our platform is clinically robust and accredited to provide a range of therapeutic support and interventions. All our services are predicated on easy access to make early intervention and prevention a reality.

 Our three services are:

·     Kooth: for children and young persons

·     Kooth: for adults

·     Kooth Work: for frontline employees

Kooth is a fully safeguarded and pre-moderated community with a library of peer and professional created content, alongside access to experienced online counsellors. There are no thresholds for support and no waiting lists. Currently, Kooth sees more than 4,000 logins a day.

Kooth is the only digital mental health provider to hold a UK-wide accreditation from the British Association of Counselling and Psychotherapy (BACP) and according to NHS England data for 2021/22 is now the largest single access provider for mental health support for under 18s.

In 2021, Kooth began executing on its international expansion strategy, with an initial focus on the US market. This focus is due to the growing recognition of the importance of improving youth mental health in this key global healthcare market, with 1-in-6 people aged 6-17 experiencing a mental health disorder each year. Kooth's first pilot contract in the US was signed in October 2022 with the State of Pennsylvania followed in July 2023 by a four-year contract to cover all 13-25 year olds in the State of California.

 

END