Itaconix PLC Results of Open Offer, GM and Total Voting Rights (7408Q)

TIDMITX

RNS Number : 7408Q

Itaconix PLC

22 February 2023

22 February 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF THE COMPANY.

This announcement should be read in conjunction with the full text of the Circular issued on 6 FEBRUARY 2023. All capitalised terms used in this announcement and not otherwise defined shall have the meanings given to them in the Circular.

Itaconix plc

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

Results of Open Offer, General Meeting

and Total Voting Rights

The Board of Itaconix plc, a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products, is pleased to announce that it has received valid acceptances from Qualifying Shareholders in respect of 4,513,420 Open Offer Shares. This represents approximately 58.2 per cent. of the 7,760,852 New Ordinary Shares available under the Open Offer.

The Board also announces that at the General Meeting held earlier today, all Resolutions were duly passed by Shareholders.

The Company has therefore raised, in aggregate, gross proceeds of approximately GBP10.5 million through the Placing, Subscription and Open Offer.

Admission and Total Voting Rights

Application has been made for the 138,563,048 New Ordinary Shares (being the 133,094,856 Conditional Placing Shares , 954,772 Subscription Shares and 4,513,420 Open Offer Shares) to be admitted to trading on AIM. It is expected that the Admission of the Conditional Placing Shares, the Subscription Shares and the Open Offer Shares will occur and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 27 February 2023.

Following Admission, the total number of Ordinary Shares in issue will be 674,306,055. There are no Ordinary Shares held in treasury. Accordingly, the total number of voting rights in the Company on Admission will be 674,306,055. This figure may be used by Shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

John R. Shaw, CEO of Itaconix, commented:

" We have successfully raised gross proceeds of GBP10.5 million. I am extremely pleased to welcome new institutional shareholders to the Company. We are now entering a new stage of development as we aim to become a much larger sustainable ingredient company. Our strong balance sheet now gives us the opportunity to target higher revenue growth from our current ingredients. There are a number of exciting opportunities for us to develop new ingredients and increase revenues from our substantial itaconate technology platform. We approach the future with more commercial progress, more resources, more potential, and more optimism than ever before ."

For further information please contact:

 
Itaconix plc                                    [phone] 
John R. Shaw / Laura Denner 
Belvedere Communications                        [phone] 
John West / Llew Angus 
finnCap 
 Nominated Adviser & Broker, Bookrunner         [phone] 
Ed Frisby / Abigail Kelly (Corporate Finance) 
 Andrew Burdis / Sunila de Silva (ECM) 
Canaccord Genuity 
 Co-Lead Manager                                [phone] 
Adam James / Sam Lucas (Investment Banking) 
 

About Itaconix

Itaconix uses its proprietary plant-based polymer technology platform to produce and sell specialty ingredients that improve the safety, performance, and sustainability of consumer products. The Company's current ingredients are enabling and leading new generations of products in cleaning, hygiene, and beauty. Itaconix's contributions to the global low carbon economy are recognised by the London Stock Exchange's Green Economy Mark.

www.itaconix.com

The Notification of Dealing Forms set out below are provided in accordance with the requirements of MAR.

 
 1    Details of the person discharging managerial responsibilities 
       ("PDMR") / person closely associated ("PCA") 
 a)   Name                             John R. Shaw 
     -------------------------------  ----------------------------------------- 
 2.   Reason for the Notification 
     -------------------------------------------------------------------------- 
 a)   Position/status                  Chief Executive Officer 
     -------------------------------  ----------------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
     -------------------------------  ----------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------- 
 a)   Name                             Itaconix plc 
     -------------------------------  ----------------------------------------- 
 b)   LEI                              213800OKA3GOCK2ZA496 
     -------------------------------  ----------------------------------------- 
 4.   Details of the transaction(s): section to be repeated for (i) 
       each type of instrument; (ii) each type of transaction; (iii) 
       each date; and (iv) each place where transactions have been conducted 
     -------------------------------------------------------------------------- 
 a)   Description of the               New Ordinary Shares of 1 pence each 
       Financial instrument, 
       type of instrument 
      Identification code              GB00B84LVH87 
     -------------------------------  ----------------------------------------- 
 b)   Nature of the transaction        Purchase of New Ordinary Shares 
     -------------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)            Price(s)   Volume(s) 
                                         5.1p       79,564 
                                                   ---------- 
     -------------------------------  ----------------------------------------- 
 d)        Aggregated information:     See 4c) above 
             *    Aggregated volume 
 
 
 
             *    Price 
     -------------------------------  ----------------------------------------- 
 e)   Date of the transaction          27 February 2023 
     -------------------------------  ----------------------------------------- 
 f)   Place of the transaction         London Stock Exchange, AIM Market (XLON) 
     -------------------------------  ----------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       ("PDMR") / person closely associated ("PCA") 
 a)   Name                             Laura Denner 
     -------------------------------  ----------------------------------------- 
 2.   Reason for the Notification 
     -------------------------------------------------------------------------- 
 a)   Position/status                  Chief Financial Officer 
     -------------------------------  ----------------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
     -------------------------------  ----------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------- 
 a)   Name                             Itaconix plc 
     -------------------------------  ----------------------------------------- 
 b)   LEI                              213800OKA3GOCK2ZA496 
     -------------------------------  ----------------------------------------- 
 4.   Details of the transaction(s): section to be repeated for (i) 
       each type of instrument; (ii) each type of transaction; (iii) 
       each date; and (iv) each place where transactions have been conducted 
     -------------------------------------------------------------------------- 
 a)   Description of the               New Ordinary Shares of 1 pence each 
       Financial instrument, 
       type of instrument 
      Identification code              GB00B84LVH87 
     -------------------------------  ----------------------------------------- 
 b)   Nature of the transaction        Purchase of New Ordinary Shares 
     -------------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)            Price(s)   Volume(s) 
                                         5.1p       79,564 
                                                   ---------- 
     -------------------------------  ----------------------------------------- 
 d)        Aggregated information:     See 4c) above 
             *    Aggregated volume 
 
 
 
             *    Price 
     -------------------------------  ----------------------------------------- 
 e)   Date of the transaction          27 February 2023 
     -------------------------------  ----------------------------------------- 
 f)   Place of the transaction         London Stock Exchange, AIM Market (XLON) 
     -------------------------------  ----------------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities 
       ("PDMR") / person closely associated ("PCA") 
 a)   Name                             Peter Nieuwenhuizen 
     -------------------------------  ----------------------------------------- 
 2.   Reason for the Notification 
     -------------------------------------------------------------------------- 

 a)   Position/status                  Non-Executive Chair 
     -------------------------------  ----------------------------------------- 
 b)   Initial notification/Amendment   Initial notification 
     -------------------------------  ----------------------------------------- 
 3.   Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     -------------------------------------------------------------------------- 
 a)   Name                             Itaconix plc 
     -------------------------------  ----------------------------------------- 
 b)   LEI                              213800OKA3GOCK2ZA496 
     -------------------------------  ----------------------------------------- 
 4.   Details of the transaction(s): section to be repeated for (i) 
       each type of instrument; (ii) each type of transaction; (iii) 
       each date; and (iv) each place where transactions have been conducted 
     -------------------------------------------------------------------------- 
 a)   Description of the               New Ordinary Shares of 1 pence each 
       Financial instrument, 
       type of instrument 
      Identification code              GB00B84LVH87 
     -------------------------------  ----------------------------------------- 
 b)   Nature of the transaction        Purchase of New Ordinary Shares 
     -------------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)            Price(s)   Volume(s) 
                                         5.1p       795,644 
                                                   ---------- 
     -------------------------------  ----------------------------------------- 
 d)        Aggregated information:     See 4c) above 
             *    Aggregated volume 
 
 
 
             *    Price 
     -------------------------------  ----------------------------------------- 
 e)   Date of the transaction          27 February 2023 
     -------------------------------  ----------------------------------------- 
 f)   Place of the transaction         London Stock Exchange, AIM Market (XLON) 
     -------------------------------  ----------------------------------------- 
 

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February 22, 2023 07:28 ET (12:28 GMT)