Quadrise Plc (LON:QED), the supplier of innovative energy solutions for a cleaner planet, has announced that, further to the announcements made on 24 January 2025 regarding the proposed Retail Offer and the announcement made yesterday regarding the increased size of the Retail Offer to up to £2 million, the Retail Offer closed at 4.30 pm yesterday and was significantly oversubscribed.
The Retail Offer was oversubscribed and therefore allocations were made to existing shareholders, applying the principles of soft pre-emption. Existing Shareholders received 100 per cent. of their soft pre-emptive allowance when their order matched or exceeded their soft pre-emptive allowance. Given the level of demand, where the order was greater than the soft pre-emptive allowance shareholders received approximately c.0.35 per cent. of their additional demand1.
Accordingly a total of 217,666,666 new Ordinary Shares will be conditionally issued pursuant to the Placing, the Subscription and the Retail Offer, raising gross proceeds of approximately £6.53 million.
Completion of the Retail Offer is conditional upon, inter alia, completion of the Placing and the Subscription and the Placing Shares, Subscription Shares and the Retail Offer Shares being admitted to trading on AIM operated by the London Stock Exchange.
(1) Soft pre-emptive allowance calculation:
Existing shares X 12.334% (dilution from total new shares being issued) = soft pre-emptive allowance allocation shares.
Additional demand allocation share calculation:
(Total order shares – Soft pre-emptive allowance allocation shares) X approximately c.0.35%
Director/PDMR Retail Offer participation
As announced on 24 January 2025, certain Directors and PDMRs of the Company have subscribed for, in aggregate, 2,116,666 new Ordinary Shares pursuant to the Placing and Subscription.
The following PDMR of Quadrise has participated in the Retail Offer as follows:
| Director/PDMR | Number of Existing Ordinary Shares | Number of Retail Offer Shares subscribed for | Number of Ordinary Shares held on Second Admission |
| David Scott | 171,337 | 21,472 | 192,809 |
The notification 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, provides further detail.
Admission and dealings
Application has been made to the London Stock Exchange for the Placing Shares and the Subscription Shares to be admitted to trading on AIM. First Admission is expected to take place on or around 8.00 a.m. on 31 January 2025.
A separate application will be made for the Retail Offer Shares to be admitted to trading on AIM. It is anticipated that Second Admission will become effective and that dealings in the Retail Offer Shares will commence on AIM at 8.00 a.m. on 3 February 2025 or such later time and/or date as Shore, VSA, Cavendish and the Company agree (being in any event no later than 8.00 a.m. on 28 February 2025).
The Retail Offer Shares, when issued, will be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.
Unless otherwise defined herein, capitalised terms used in this announcement have the meanings given to them in the Retail Offer Launch Announcement.
