RM plc (LON:RM), a leading global education technology, digital learning and assessment solutions provider, has announced that, further to the announcement made earlier today regarding the launch of the Placing, an aggregate of 14,210,527 Placing Shares have been successfully placed by Singer Capital Markets at the Placing Price of 95 pence per Placing Share to raise gross proceeds of approximately £13.5 million. The Placing received strong demand and was significantly oversubscribed.
Singer Capital Markets is acting as sole bookrunner and sole broker in connection with the Placing.
Capitalised terms used in this announcement have the meanings given to them in the Launch Announcement, unless the context provides otherwise.
Helen Stevenson, Chair of RM, said:
“We are very pleased to announce the successful completion of the significantly oversubscribed placing and I would like to thank all those investors for supporting this raise. We look forward to reporting on RM Ava’s development alongside further progress made with executing our strategy.“
Consultation with Shareholders
The Company is issuing new Ordinary Shares amounting to approximately 16.9 per cent. of the existing issued ordinary share capital of the Company on a non-pre-emptive basis pursuant to the Placing. Certain directors of the Company have consulted with the Company’s major institutional Shareholders ahead of the release of this Announcement. The Placing structure was chosen because it minimises cost, time to completion, as well as exposure to market volatility. The consultation has confirmed the Board’s view that the Placing is in the best interests of Shareholders, as well as wider stakeholders in the Company.
Director Participation
The following Directors participated in the Placing pursuant to the terms and conditions of the Placing as set out in the Appendix to the Launch Announcement:
| Director | Role | Number of Placing Shares subscribed for | Interest in Ordinary Shares following Admission | Percentage of the enlarged issued share capital of the Company following Admission (%) |
| Helen Stevenson | Non-Executive Chair | 30,559 | 210,926 | 0.215% |
| Mark Cook | Chief Executive Officer | 26,315 | 113,460 | 0.116% |
| Simon Goodwin | Chief Financial Officer | 5,242 | 10,143 | 0.010% |
| Christopher Humphrey | Non-Executive Director | 21,052 | 221,052 | 0.225% |
| Carolyn Dawson | Non-Executive Director | 2,631 | 2,631 | 0.003% |
Placing and Admission
The Placing Price of 95 pence per share represents a discount of 5 per cent. to the closing mid-market price of 100 pence per Ordinary Share on 9 October 2025, being the latest practicable date prior to the publication of the Launch Announcement.
The Placing Shares, when issued, will be 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.
Applications have been made to the London Stock Exchange for admission of the Placing Shares to listing in the equity shares (commercial companies) category of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities.
Settlement for the Placing Shares and Admission are expected to take place on or around 8.00 a.m. on 14 October 2025.
The Placing is conditional upon, among other things, the Placing Agreement not being terminated in accordance with its terms and Admission becoming effective.
Total voting rights
Following Admission, the Company will have a total of 98,085,543 Ordinary Shares in issue. With effect from Admission, this figure 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 Guidance and Transparency Rules of the Financial Conduct Authority.
