Quadrise Plc (LON: QED), the supplier of innovative energy solutions for a cleaner planet, has announced the successful results of the Placing and Subscription announced on 23 January 2025.
The Company has conditionally raised £4.50 million pursuant to the upsized and oversubscribed Placing of 150,000,000 Placing Shares and £0.03 million through a direct subscription by certain Directors of the Company for 1,000,000 Subscription Shares, in each case at the Issue Price of 3 pence per new Ordinary Share.
The gross proceeds of the Placing and Subscription are expected to be supplemented by additional gross proceeds of up to £1 million to be raised pursuant to the Retail Offer at the Issue Price, although the amount to be raised pursuant to the Retail Offer may be appropriately increased with additional demand.
The Placing Shares and the Subscription Shares will be issued and allotted under the Company’s existing authorities obtained at the Company’s last annual general meeting held on 22 November 2024.
A separate announcement will be made shortly by the Company in relation to the Retail Offer and with its terms. For the avoidance of doubt, the Retail Offer is not part of the Placing and the Subscription.
Director/PDMR Placing and Subscription participation
The following Directors and PDMRs of Quadrise have participated in the Placing and Subscription as follows:
| Director/PDMR | Number of Existing Ordinary Shares | Number of Placing Shares subscribed for | Number of Subscription Shares subscribed for | Number of Ordinary Shares held on First Admission |
| Andy Morrison | 4,100,000 | 500,000 | – | 4,600,000 |
| Jason Miles | 5,594,236 | 500,000 | – | 6,094,236 |
| Laurie Mutch | 912,789 | – | 166,667 | 1,079,456 |
| Vicky Boiten-Lee | 800,000 | – | 833,333 | 1,633,333 |
| Phil Hill | 200,464 | 116,666 | – | 317,130 |
The notifications below, made in accordance with the requirements of the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and as modified by or under the European Union (Withdrawal) Act 2018 or other domestic law, provide further detail.
Admission and dealings
Application will be made to the London Stock Exchange for the Placing Shares and the Subscription Shares to be admitted to trading on AIM. A separate application will be made for the Retail Offer Shares to be admitted to trading on AIM following the closing of the Retail Offer.
First Admission is expected to take place on or around 8.00 a.m. on 31 January 2025 (or such later date as may be agreed between the Bookrunners, Cavendish and the Company being no later than 8.00 a.m. GMT on 28 February 2025).
The Placing Shares and the Subscription Shares will be in registered form and will be capable of being held in either certificated or uncertificated form (i.e. in CREST). Accordingly, following First Admission, settlement of transactions in the Placing Shares and the Subscription Shares may take place within the CREST system.
