29 May 2024
Sondrel (Holdings) plc
("Sondrel", the
"Company" and together with its subsidiaries the
"Group")
Regulatory Condition to
Conditional £5.6m Subscription
Sondrel (AIM: SND), a leading
provider of ultra-complex chips for leading global technology
brands, announced on 14 May 2024 that it had conditionally raised
gross proceeds of £5,625,400 pursuant to a subscription by ROX
Equity Partners Limited for 56,254,000 new ordinary shares in the
Company at an issue price of 10 pence per new ordinary share (the
"Subscription").
The Subscription remains conditional
upon, inter alia, Sondrel
independent shareholder approval at a general meeting to be held on
30 May 2024 (the "General Meeting") and approval by the UK
secretary of state of ROX's proposed investment in the Company as
required by the National Security and Investment Act 2021 ("NSIA
Approval").
Sondrel announces that it has now
been informed that NSIA Approval is unlikely to be received prior
to the General Meeting. As such it is currently anticipated that
admission of the new ordinary shares to be issued pursuant to the
Subscription will take place after 31 May 2024, but prior to the
agreed long stop date of 8:00 am on 13 June 2024.
A further announcement in connection
with the status of the NSIA Approval, together with an updated
admission date, will be made in due course as and when
appropriate.
For further information:
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Sondrel (Holdings) plc
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Via
Buchanan
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David Mitchard, Interim
CEO
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Tel: +44
(0) 20 7466 5000
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Nick Stone, Interim CFO
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Cavendish Capital Markets Limited
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Tel: +44
(0) 20 7220 0500
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Ben Jeynes / Katy Birkin / George
Lawson - Corporate Finance
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Michael Johnson / Charlie Combe -
Sales and ECM
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Buchanan Communications
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Tel: +44
(0) 20 7466 5000
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Chris Lane
Stephanie Whitmore
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sondrel@buchanan.uk.com
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Jack Devoy
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Abby Gilchrist
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About Sondrel
Sondrel is a UK-based fabless
semiconductor company specialising in high end, complex digital
Application Specific Integrated Circuits (ASICs) and System on
Chips (SOCs). It provides a full turnkey service in the design,
prototyping, testing, packaging and production of ASICs and
SoCs.
The Company is one of only a few
companies capable of designing and supplying the higher-spec chips
built on the most advanced semiconductor technologies, selling into
a range of hyper growth end markets such as high-performance
computing, automotive, artificial intelligence, VR/AR, video
analytics, image processing, mobile networking and data
centres. Sondrel designs have enabled products by leading
technology brands including Apple (iPhone), Sony (PlayStation),
Meta's (Oculus), Samsung, Google and Sony smartphones, JVC
(prosumer camcorders), Tesla and Mercedes-Benz cars.
Sondrel is well-established, with a
20-year track record of successful delivery, supported by long
standing ecosystem partnerships including Arm, TSMC and Samsung.
Headquartered in the UK, Sondrel has a global presence with offices
in UK, USA, China, India and Morocco.
For more information please
visit: ir.sondrel.com.