Home » News and Views » #TEK TekCapital PLC – Placing to raise £2.25 Million(C.US$2.7M)

#TEK TekCapital PLC – Placing to raise £2.25 Million(C.US$2.7M)

Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products that can improve people’s lives announces that it has raised a total of £2.25 million (c.US$2.7m) before expenses, in an oversubscribed placing from existing and new shareholders, by way of the issue of, in aggregate, 14,062,500  new ordinary shares of 0.4 pence each in the Company (the “Ordinary Shares”), at a price of 16 pence per share (the “Placing Shares”) (together, the “Placing”).

The net proceeds of the Placing will primarily be used to accelerate the growth of the Company’s portfolio companies. The Placing was undertaken by the Company’s broker SP Angel Corporate Finance LLP.

Key Highlights:

–      £2.25m (US$2.7m) before expenses was raised by means of a fundraise through the issue of, in aggregate 14,062,500 Placing Shares at 16 pence per Placing Share.


Funds raised will be used as follows:

–      £0.6m to build commercial inventory of MicroSalt Limited

–      £1m to purchase autonomous shuttles for Guident’s Remote Control Monitoring Centre clients and for fabrication and testing of their regenerative shock absorbers for prospective clients

–      the remainder of the funds raised will primarily be for additional working capital.

Admission and Total Voting Rights

Application has been made for the 14,062,500  Placing Shares to be admitted to trading on AIM (“Admission”). It is expected that Admission will become effective on or around 23 February 2023.

Following the issue of the 14,062,500  Placing Shares, which on Admission will rank pari passu with the existing Ordinary Shares, the total number of Ordinary Shares in issue with voting rights in the Company will be 164,754,828. There are no shares held in treasury.

The above figure of 164,754,828  Ordinary Shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

Clifford M. Gross Ph.D., Executive Chairman of Tekcapital plc commented:

We are pleased to announce this oversubscribed offering to facilitate the further good progress of our portfolio



About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.


For further information, please contact:


Tekcapital Plc 

Via Flagstaff

Clifford M. Gross, Ph.D. 

SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker)

+44 (0) 20 3470 0470 

Richard Morrison/Charlie Bouverat (Corporate Finance)

Abigail Wayne (Corporate Broking)

Flagstaff Strategic and Investor Communications


+44 (0) 20 7129 1474

Tim Thompson/Andrea Seymour/Fergus Mellon



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