CAP-XX Limited has announced a proposed placing and subscription to raise approximately 2.0 million through the issue of new ordinary shares of no par value at an issue price of 0.1 pence per Ordinary Share. The majority of the net proceeds of the Placing are intended to be applied towards general working capital requirements. The Placing will be undertaken by way of an accelerated bookbuild, with Allenby Capital Limited acting as the sole bookrunner.
The Participating Directors have indicated their intention to subscribe for new Ordinary Shares in the Company at the Issue Price. In addition to the Placing and the Subscription, the Company announces a separate conditional retail offer via the REX Platform to raise up to 0.2 million at the Issue Price, providing existing UK retail shareholders in the Company an opportunity to participate in the Fundraise.
The Company also announces that it has changed its registered office address to be Unit 1, 13A Stanton Road, Seven Hills, NSW 2147, Australia. The announcement also includes contact information for further inquiries.
The background to and reasons for the Fundraise were highlighted, indicating a difficult period for CAP-XX and its Shareholders. The interim results announced on 1 February 2024 showed growth in product sales and the sales order book, despite industry challenges in the passive industry. The Board believes this growth was achieved in the face of industry challenges.
For further details, the full text of the Announcement and the Appendix containing the Terms and Conditions of the Placing are recommended for potential placees. More information is available at www.cap-xx.com.