CRUSHMETRIC Group Limited Placing and Update on Distributor Dispute

RNS Number : 1386P

CRUSHMETRIC Group Limited

06 December 2024

 

6 December 2024

 

CRUSHMETRIC GROUP LIMITED

("CRUSHMETRIC" or "the Company")

 

Private Placing and Update on Distributor Dispute

  

CRUSHMETRIC is pleased to announce that it has completed a placing for a total of 798,448 new Ordinary shares of US$0.001 each in the Company ("Ordinary Shares") at a price of 12.5p per share, to two individual shareholders who are unrelated to the Company ("Placing"). In total the Company has raised approximately £99,806. Application will be made for the Ordinary Shares to be admitted to trading on the Aquis Growth Market and it is expected that admission will occur on or about 12 December 2024.

 

The placing proceeds are being used for general working capital purposes.

 

The Company announces that, following the issue of the Ordinary Shares referred to above, in accordance with the Financial Conduct Authority's Disclosure and Transparency Rules (the "Disclosure and Transparency Rules"), the total number of Ordinary Shares in issue will be 241,294,192 with each share carrying the right to one vote.

 

CRUSHMETRIC does not hold any shares in Treasury.

 

The above figure of 241,294,192 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

 

Dispute Updates

 

The Company announces that, further to the announcement of 8 September 2022, its subsidiary, Star Collaboration (Guangzhou) Limited ("Star C") has signed a settlement agreement with the distributor in full and final settlement of the legal proceeding, whereby Star C will pay a total of approximately £166,000 (equivalent to approximately RMB1,500,000).

 

The Directors of the Company accept responsibility for the contents of this announcement.

 

For further information, please contact:-

CRUSHMETRIC Group Limited ONG Ban Poh Michael - Chief Executive Officer Lilian Lo - Acting Chief Financial Officer	Tel: [phone]
Aquis Growth Market Corporate Adviser PETERHOUSE CAPITAL LIMITED	Tel: [phone]

 

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