Further to the announcement on 1st May 2020, the Company is pleased to announce the completion of a placing of 575,000 ordinary 2p shares (“Placing Shares”) at an issue price of 40p per share raising gross proceeds of £230,000 before expenses (the “Placing”).
Application has been made to the Aquis Stock Exchange Growth Market for admission of the Placing Shares and dealing in these shares is expected to commence at 8.00am on 19th May 2020.
Subscribers to the Placing will also be issued one warrant for each ordinary share exercisable at 40p within three years of issue.
Nicholas Nelson, Chief Executive, commented:
“We are delighted with the strong appetite received from new and existing investors which resulted in the swift closure of the Placing. In part, these funds will be deployed in specific customer trials, as well as the execution of the business plan as set out at the date of the initial public offering.
The publication of our annual audited accounts is planned to be completed over the coming months and we look forward to providing more trading information at that time”
SulNOx Group Plc:
Flagstaff, Strategic and Investor Communications:
+44 (0) 207 129 1474
Aquis Stock Exchange Corporate Adviser:
Alexander David Securities Limited +44 (0) 20 7448 9820
David Scott – Corporate Finance,
James Dewhurst – Corporate Broking
The directors take responsibility for this announcement.
About SulNOx Group Plc
SulNOx, www.sulnoxgroup.com, has developed a hydrocarbon fuels conditioning and emulsifying process which enables more efficient fuel combustion, potentially leading to reduced fuel consumption and significantly lowered emissions.