Share Name Share Symbol Market Type Share ISIN Share Description
Kromek Group Plc LSE:KMK London Ordinary Share GB00BD7V5D43 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 9.75 9.50 10.00 10.00 9.75 9.75 345,274 14:06:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 12.1 -6.1 -1.1 - 42

Kromek Group PLC Fundraising of GBP1.14 million

23/08/2022 11:10am

UK Regulatory (RNS & others)

Kromek (LSE:KMK)
Historical Stock Chart

From Jun 2022 to Dec 2022

Click Here for more Kromek Charts.


RNS Number : 9402W

Kromek Group PLC

23 August 2022

23 August 2022

Kromek Group plc

("Kromek" or the "Company" or the "Group")

Fundraising of GBP1.14 million

Kromek Group plc, a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, is pleased to announce that it has completed a fundraising of GBP1.14 million (the "Fundraising") through the issue of convertible loan notes ("Loan Notes") to existing shareholders in the Company. The net proceeds of the Fundraising will be used to provide additional working capital to mitigate against any potential future supply chain issues. This new fundraising brings the total of new funds raised via convertible loan notes to GBP2.84 million following the fundraising of GBP1.7 million announced on 5 August 2022.

The Loan Notes have a term of 18 months (with the Company having the option to extend the loan notes by three months), are senior in ranking and unsecured. If the Loan Notes are repaid other than on the repayment date, they are convertible at the investors option into ordinary shares in the capital of the Company ("Ordinary Shares") at 15 pence per Ordinary Share, representing a 38% premium to the mid-price of the Company's share price at close of business on 22 August 2022. The Loan Notes carry a coupon of 8% per annum and have a conversion date of 22 February 2024.

Where the Loan Note holders have the right to elect to be repaid in whole or in part in Ordinary Shares, the conversion price is the lower of the closing mid-market price on the repayment date and 15 pence per share.

Based on a Fundraising of GBP1.14 million, the Loan Notes would, if converted at 15 pence per share, represent approximately 7.6 million Ordinary Shares, amounting to 1.76% of the current issued share capital of the Company.

For further information, please contact:

Kromek Group plc 
Arnab Basu, CEO 
 Paul Farquhar, CFO                          +44 (0)1740 626 060 
finnCap Ltd (Nominated Adviser and Broker) 
Geoff Nash/Seamus Fricker/George Dollemore 
 - Corporate Finance                         +44 (0)20 7220 0500 
Tim Redfern/Charlotte Sutcliffe - ECM 
  Gracechurch Group (Financial PR) 
Harry Chathli/Claire Norbury                 +44 (0)20 3488 7510 

About Kromek Group plc

Kromek Group plc is a leading developer of radiation detection and bio-detection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing operations in the UK and US, delivering on the vision of enhancing the quality of life through innovative detection technology solutions.

The advanced imaging segment comprises the medical (including CT and SPECT), security and industrial markets. Kromek provides its OEM customers with detector components, based on its core cadmium zinc telluride (CZT) platform, to enable better detection of diseases such as cancer and Alzheimer's, contamination in industrial manufacture and explosives in aviation settings.

In CBRN detection, the Group provides nuclear radiation detection solutions to the global homeland defence and security market. Kromek's compact, handheld, high-performance radiation detectors, based on advanced scintillation technology, are primarily used to protect critical infrastructure and urban environments from the threat of 'dirty bombs'.

The Group is also developing bio-security solutions in the CBRN detection segment. These consist of fully automated and autonomous systems to detect a wide range of airborne pathogens.

Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.

Further information is available at .

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

August 23, 2022 06:10 ET (10:10 GMT)

1 Year Kromek Chart

1 Year Kromek Chart

1 Month Kromek Chart

1 Month Kromek Chart
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221203 19:30:01