THIS ANNOUNCEMENT CONTAINS
INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET
ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
5 April 2024
SulNOx Group
Plc (the "Company" or "SulNOx")
Issue of Shares to
Consultants
Holding in the
Company
(Aquis Stock Exchange:
SNOX)
Issue of Shares to Consultants
The Company has issued a total of
159,339 new ordinary shares of 2 pence each
("Ordinary Shares") in
settlement of invoices from consultants, made as
follows:
·
23,810 Ordinary Shares at a price of 31.50 pence
per Ordinary Share in settlement of a liability of £7,500.00;
and
·
135,529 Ordinary Shares at a price of 21.25 pence
per Ordinary Share in settlement of a liability of
£28,800.00.
The prices of the above issues have
been calculated on the average share price for the period of time
over which the services were delivered and the terms of the
consultants' contracts. An application will be made to admit
the new Ordinary Shares for trading on AQSE Growth Market, which is
anticipated to occur on or around 10 April 2024 ("Admission").
On Admission, the Company will have
121,506,158 Ordinary Shares in issue, each with one voting right.
The Company does not hold any shares in treasury and therefore the
total number of voting rights in the Company is 121,506,158. This
figure should be used by shareholders from Admission 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.
Holding in the Company & Related Party
Transaction
The issue of the 135,529 Ordinary Shares set out above
is to Tergeo Limited, in relation to the consultancy contract set
out in the announcement of 27 June 2023. Tergeo Limited is a
company in which Constantine Logothetis holds a majority
interest. Mr Logothetis has a total current interest
(including indirect holdings) in 28,619,749Ordinary Shares, 23.59%
of the current issued Ordinary Shares. On Admission, assuming
no other dealings since his last disclosure, Mr Logothetis will
have a total interest (including indirect holdings) in 28,755,278
Ordinary Shares, 23.67% of the Ordinary Shares.
As Mr Logothetis has an interest in
over 10% of the Ordinary Shares, the issue of the new Ordinary
Shares to Tergeo Limited constitutes a related party transaction
under the AQSE Growth Market (Apex Segment) Rules. The
consultancy agreement with Tergeo Limited is proving to be
commercially beneficial and the settlement of the liability through
the issue of Ordinary Shares will conserve the Company's cash
resources. The directors of the Company, having exercised
reasonable care, skill and diligence, believe the issue of new
Ordinary Shares to Tergeo Limited to be fair and reasonable as far
as the shareholders of the Company are concerned.
- Ends
-
For further information please
contact:
|
SulNOx Group plc
Steven
Cowin, CFO
|
steven.cowin@sulnoxgroup.com
|
|
|
|
|
Allenby Capital Limited
(AQSE Corporate Adviser)
Nick Harriss / John
Depasquale
|
Tel: 020 3328 5656
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