SYDNEY - CAP-XX Limited (AIM:CPX), a company specializing in the design and manufacturing of supercapacitors, announced that two of its directors have subscribed for new ordinary shares. The subscription by Dr. Graham Cooley and Peter Fraser, referred to as the "Directors' Subscription," follows the company's recent fundraising announcement on October 31, 2024.
The Directors' Subscription involves the acquisition of approximately £0.25 million worth of new ordinary shares, resulting in the issuance of 227,272,700 new shares. These shares are being issued at the same price of 0.11 pence per share as in the recent placing, aligning with the terms outlined in the company's fundraising launch.
Dr. Graham Cooley, a substantial shareholder and director, will increase his holding to 573,181,800 shares, representing 9.98% of the company's enlarged share capital. Peter Fraser, also a director, will acquire 9,090,900 shares, representing a 0.16% stake.
This transaction is classified as a related party transaction under the AIM Rules for Companies. The independent directors of CAP-XX, after consulting with the company's Nominated Adviser, Allenby Capital Limited, have deemed the terms of the Directors' Subscription fair and reasonable for shareholders.
The new shares are expected to be admitted to trading on the AIM market at 8.00 a.m. on or around December 9, 2024, coinciding with the second admission of placing and retail offer shares. Upon this admission, CAP-XX's issued ordinary share capital will consist of 5,743,226,337 ordinary shares with one voting right each.
CAP-XX is recognized for its thin, prismatic supercapacitors and energy management systems, which are increasingly used in a variety of applications from portable electronics to automotive and renewable energy sectors. The information regarding the directors' share subscription is based on a press release statement from the company.
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