Result of Open Offer
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR") AND THE RETAINED UK LAW VERSION OF MAR PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA THE REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
All of the defined terms in this announcement have the same meaning as in the circular published by the Company and sent to Shareholders on 26 March 2021.
15 April 2021
("Adams" or the "Company")
Result of Open Offer
Adams is pleased to confirm that it has received valid applications in respect of 54,655,999 Open Offer Shares raising £3,552,640 for the Company (before expenses), pursuant to the Open Offer announced on 26 March 2021. Qualifying Shareholders who validly applied for Open Offer Shares pursuant to their Open Offer Entitlement will receive the full amount of Open Offer Shares applied for. The applications included an application by Richard Griffiths for 47,872,535 Open Offer Shares and an application by David Richardson for 6,018,185 Open Offer Shares.
Application has been made for the admission of the 54,655,999 Open Offer Shares to trading on AIM, with Admission expected to become effective at 8.00 a.m. on 21 April 2021. The Open Offer Shares will, when issued and fully paid, 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 Admission.
Following Admission, Richard Griffiths and David Richardson will have the following interests in the Ordinary Shares in the Company:
Number of Ordinary Shares
% of Issued Share Capital
The Directors' interests in the Ordinary Shares in the Company following completion of the Placing and Open Offer are as follows:
Interest in Ordinary Shares
% of Enlarged Share Capital
after Open Offer Admission
Total voting rights
Following Admission, the number of Ordinary Shares in issue will be 145,859,231. For the purposes of the Disclosure Guidance and Transparency Rules, the total number of voting rights in the Company with effect from 21 April 2021 will be 145,859,231. 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 share capital of the Company, under the FCA's Disclosure Guidance and Transparency Rules.
Tel: +44 1534 719761
Nomad - Cairn Financial Advisers LLP
Sandy Jamieson, James Caithie
Tel: +44 207 213 0880
Broker - Peterhouse Capital Limited
Heena Karani/Duncan Vasey
Tel: +44 207 469 0933