Singer Capital Markets was delighted to act as Joint Broker to Directa Plus (‘DCTA’) on its £6.8 million Fundraise by way of a Placing of, and Subscription for, a total of up to 37,805,551 New Ordinary Shares at the Issue Price of 18 pence each.
In addition, certain directors of the Company have confirmed their intention to participate in the Fundraising and subscribe for 555,555 New Ordinary Shares in aggregate between them. Due to the Company currently being in a close period under MAR until publication of the Results, the gross proceeds of the Fundraising may rise to approximately £6.9 million if Results are published prior to the proposed date of Admission. In the event that the Directors are unable to participate prior to that date, the Company will apply for admission of the relevant New Ordinary Shares to trading on AIM separately and to take effect following the admission of the remaining Subscription Shares and the Placing Shares.
Net proceeds of the Fundraise will be used to invest in line with the Company’s strategic plan and accelerate its path to profitability.
Richard Hickinbotham, Non-Executive Chairman of Directa Plus, commented:
“Directa Plus has made consistent progress towards its goal of commercialising its graphene products and processes with a high quality, growing roster of customers. The Fundraising will enable the Company to accelerate that progress by providing funds for investment in what the Board considers to be exciting opportunities. We look forward to beginning the next phase of growth.”
It is currently expected that Admission will become effective, and that dealings in the New Ordinary Shares will commence on AIM, at 8.00 a.m. on 1 July 2024.
About Directa Plus plc
Directa Plus was established in 2005 and admitted to trading on the AIM market in 2016. The Company has a unique and proven process for the production of pristine, chemical free graphene nanoplatelets, tailored to its partners’ and customers’ requirements which is both flexible and scalable.
Ticker: DCTA
Market Cap: £13 million*
Website: Click here
*Market cap as at 11/06/24
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