At the most recent SulNOx Annual General Meeting in September our Chairman, Stephen Bamford, disclosed the exciting news that we hope to engage advisers to a fund raise and admission to the Alternative Investment Market of the London Stock Exchange.
We have shortlisted our advisory team and look forward to providing further news once we have signed the advisers agreements – the engagement of our Nominated Adviser will be the defined signal that the IPO process has started.
Our issued share capital (currently at 81,555,920 ordinary shares) will be enlarged as we place out new shares as part of our fund raise and we are hoping that a “pre-IPO” round will take place in advance of the actual IPO.
We are supremely confident of raising up to £5 million in total, given the wall of available institutional money seeking investment in ‘green’ companies.
In the meantime, we have been asked by a number of owners of the SulNOx shares if they can sell some of their shares on a ‘Private Vendor’ basis (i.e. before the stock exchange listing). The answer is as follows;
If you have a ‘Private’ buyer who wishes to purchase some or all of your shares, then it is deemed a private matter. It will of course be subject to the standard Due Diligence by the board of SulNOx. It will also be subject to 0.5% stamp duty. That will fall due immediately on the Buyer after any ‘Private’ transaction.