Strix Group Plc - Exercise of warrants and issue of equity
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Strix Group Plc
("Strix", the "Group" or the "Company")
Exercise of warrants and issue of equity
The Board of Strix (AIM: KETL) announces that it has made an application to the London Stock Exchange for the admission to trading on AIM ("Admission") of 3,800,000 new ordinary shares of 1p in the Company ("New Ordinary Shares").
The New Ordinary Shares are being issued pursuant to the exercise of warrants to subscribe for new Ordinary Shares at a price of 100p per Ordinary Share, generating proceeds of £3,800,000 for the Company.
The warrants were granted to Zeus Capital (Strix's NOMAD and Broker) at the time of the Company's IPO in 2017 and have been exercised in order to satisfy institutional demand. Following the exercise, the Company now has no warrants in issue.
The New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares and Admission is expected to become effective on 3 December 2020.