TIDMVLS
RNS Number : 7619V
Velocys PLC
15 December 2021
Velocys plc
("Velocys" or the "Company")
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF
AMERICA, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH
AFRICA OR JAPAN.
Results of General Meeting and Open Offer
Velocys plc (VLS.L), the sustainable fuels technology company,
is pleased to announce that the resolutions set out in the circular
published on 29 November 2021 and put to shareholders at the
General Meeting held earlier today were duly passed by means of a
poll. A summary of the voting results is set out at the end of this
announcement.
The Company is also pleased to announce that in relation to the
Open Offer, which closed for acceptances at 11.00 a.m. on 14
December 2021, it has received final valid applications, including
Excess Entitlements, from Eligible Shareholders in respect of a
total of 15,314,974 Open Offer Shares. This represents a take-up of
approximately 61.07% of the maximum number of Open Offer Shares
available.
Accordingly, the Company has raised total gross proceeds of
approximately GBP26.2 million in aggregate (before expenses)
through the Placing Offer and Open Offer. Application has been made
for 327,814,974 New Ordinary Shares to be admitted to trading on
AIM ("Admission"). Issue of the New Ordinary Shares remains
conditional on Admission occurring. It is expected that Admission
of the VCT Shares (56,796,020 New Ordinary Shares) will occur on 16
December 2021 and Admission of the General Placing Shares and Open
Offer Shares (255,703,980 and 15,314,974 New Ordinary Shares
respectively) will occur on 17 December 2021. Following Admission,
the Company will have1,393,571,031 Ordinary Shares in issue.
The Company does not currently hold any shares in treasury.
Therefore, the above figure of 1,393,571,031 Ordinary Shares may be
used by shareholders of the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, the
share capital of the Company under the FCA's Disclosure Guidance
and Transparency Rules.
The proxy voting results of the resolutions are included
below:
Resolution FOR AGAINST TOTAL WITHHELD*
No. of % No. of % No. of No.
votes cast votes votes cast
cast
------------ ------ ---------- ----- ------------ ----------
Resolution
1
To grant
the directors
authority
to allot
shares in
the Company
in the amounts
set out in
the notice
of general
meeting 515,421,856 99.56 2,288,878 0.44 517,710,734 588,291
------------ ------ ---------- ----- ------------ ----------
Resolution
2
Conditionally
on Resolution
1, to empower
the directors
to disapply
pre-emption
rights on
the issue
of shares
in the Company
in the amounts
set out in
the notice
of general
meeting 514,710,766 99.45 2,834,165 0.55 517,544,931 754,094
------------ ------ ---------- ----- ------------ ----------
*A vote withheld is not a vote in law and counts neither "For"
nor "Against" the relevant resolution.
Unless otherwise defined herein, capitalised terms used in this
announcement shall have the same meanings as defined in the
circular sent to shareholders of the Company on 29 November
2021.
Enquiries:
Velocys
Henrik Wareborn, CEO
Andrew Morris, CFO
Lak Siriwardene, Director of Communications
& Sustainability +44 1865 800821
Panmure Gordon (UK) Limited (Nomad and Joint
Broker)
Emma Earl (Corporate Finance)
John Prior (Corporate Finance)
Hugh Rich (Corporate Broking) +44 20 7886 2500
Shore Capital Stockbrokers Limited (Joint
Broker)
Henry Willcocks (Corporate Broking)
Toby Gibbs (Corporate Advisory)
James Thomas (Corporate Advisory)
Liam Zabludowicz (Corporate Advisory) +44 20 7408 4090
Buchanan (Financial PR)
Helen Tarbet
Simon Compton +44 20 7466 5000
R adnor Capital (Investor Relations)
Joshua Cryer
Iain Daly +44 20 3897 1830
Notes to Editors
Velocys is an LSE-listed, international sustainable fuels
technology company, traded on the AIM, providing clients with a
technology solution to enable the production of negative Carbon
Intensity synthetic, drop-in fuels from a variety of waste
materials. SAF ('Sustainable Aviation Fuel') is the only
commercially available, permanent alternative to fossil aviation
fuels.
The technology is IP-protected in all major jurisdictions.
Two reference projects in the US and UK (Bayou Fuels and
Altalto) are designed to accelerate the adoption and standardise
the Velocys proprietary Fischer Tropsch (FT) technology with an
integrated end to end solution, including renewable power and
sequestration. Velocys is enabling commercial scale SAF production
in response to the clean energy transition.
Velocys technology pathway is enabling the next generation of
low carbon sustainable fuels with significant additional positive
air quality impacts.
www.velocys.com
This announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This announcement is not an offer of securities for sale into the
United States. The securities referred to herein have not been and
will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States,
except pursuant to an applicable exemption from registration. No
public offering of securities is being made in the United
States.
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END
MSCDKPBNDBDDQBD
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