Alkemy Capital Investments plc (LON:ALK) has announced that it has raised £650,000 in an oversubscribed placing of 650,000 new ordinary shares at a placing price of £1 per share, being the total amount available under the Company’s existing share authorities.
This includes a subscription of £50,000 of shares at the placing price from director Sam Quinn.
The net proceeds will be used to further the development of TVL’s lithium hydroxide processing facility in Teesside, UK and for general working capital purposes ahead of the company seeking to secure mezzanine financing for that facility, without diluting Alkemy’s shareholders.
Following the placing, the directors will have the following beneficial shareholdings in the Company:
| Number of Shares | % of enlarged capital | |
| Paul Atherley | 3,078,000 | 37.59% |
| Sam Quinn | 446,4281 | 5.06% |
| Helen Pein | 25,000 | 0.28% |
| Vikki Jeckell | 0 | 0% |
1Including shares held by Silvertree Partners in which Mr Quinn has an interest
The placing is conditional upon and an application will be made for 650,000 Ordinary Shares to be admitted to the official list (Standard Segment) of the FCA and to trading on the Main Market of the London Stock Exchange and Admission is expected to occur at 8.00 a.m. on 22 December 2023.
In accordance with the FCA’s Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company’s enlarged issued ordinary share capital will comprise 8,814,851 Ordinary Shares each with a right to vote and with no shares held in treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to 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.
In addition, 52,000 broker warrants are being issued in conjunction with the placing, exerciseable at £1 per share for a period of 2 years from Admission.
Alkemy Capital Investments Director Sam Quinn commented:
“We are grateful to all the existing and new shareholders who have contributed to this fundraise, which will enable the further development of TVL’s lithium hydroxide processing facility in Teesside, UK. Funds will be used to continue to advance FEED and for G&A ahead of securing a non-dilutive mezzanine facility for TVL which is targeted for early 2024. We appreciate the ongoing support from all stakeholders and look forward to a successful 2024 as we move to establish the UK’s first major independent and sustainable lithium hydroxide producer at the Wilton International Chemicals Park in Teesside, UK”.
