LONDON - HeiQ Limited, a materials innovation company, has announced a share consolidation and an open offer to raise approximately £8.4 million. The company is proposing to consolidate its issued share capital on a 1-for-20 basis, with the goal of resetting the share price to £1.00 per share.
Following the consolidation, for every 20 existing ordinary shares, shareholders will receive one new ordinary share. In conjunction with this move, HeiQ is launching an open offer, giving eligible shareholders the chance to subscribe for new ordinary shares at a subscription price of £1.00 per share on a 1-for-1 basis.
The open offer has been underwritten to the tune of £8 million through irrevocable commitments from a core group of investors. Among them are Darren Morcombe, Pierre Lassonde, Thomas R. F. Dunn, Valentin Doronichev, and Carlo Centonze, the CEO and co-founder of HeiQ.
Shareholders are invited to participate in the offer, which will close on December 19, 2024. The company has also scheduled a General Meeting on December 23, 2024, at its headquarters in Switzerland, to seek approval for the share consolidation and the issuance of shares under the open offer.
To facilitate the process, HeiQ advises shareholders using CREST to contact their broker for entitlements, while certificated shareholders will receive communication materials according to their registered preferences. Those who do not receive the information through these channels should reach out to the corporate secretary by December 16.
The open offer circular and related documentation are available on HeiQ's website under the Investor Relations section. Shareholders with specific inquiries regarding the open offer or participation methods can contact Ross Ainger at the provided email address.
This initiative is part of HeiQ's strategy to strengthen its financial position and provide an opportunity for shareholders to increase their investment in the company. The information is based on a press release statement and is intended to offer shareholders and potential investors a factual report on the company's latest financial maneuvering.
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