14 November
2024
HeiQ Plc
("HeiQ" or "the Company")
Update on Delisting and Potential Capital
Raise
Further to the
announcement on 22 October 2024 regarding HeiQ Plc's delisting from
the London Stock Exchange ("LSE"), the Company wishes to update
shareholders on the next steps following its scheduled delisting on
19th November 2024.
Last trading day at
LSE
As it is anticipated that
the delisting will become effective at 08:00 a.m. (GMT) on 19
November, 2024, the last effective trading day of HeiQ Plc shares
('Ordinary Shares') on the LSE will be Monday 18 November 2024.
Strengthening of financial foundation by means
of a capital raise
In alignment with our
strategic restructuring and ongoing efforts to reposition the
Company for long-term growth, HeiQ is currently preparing for a
capital raise in the coming weeks via an open offer to all current
shareholders. This anticipated capital raise is designed to
strengthen HeiQ's financial foundation and support our ambitious
venture scale-up plans to deliver value to all stakeholders.
Therefore, HeiQ has
initiated discussions with selected independent investors who have
expressed interest in supporting the Company during this transition
and beyond. It is anticipated that a number of investors will
formally underwrite the capital raise, providing assurance and
confidence in our strategy.
Further details regarding
the capital raise and open offer terms will be provided to
shareholders in due course as we progress toward finalizing these
arrangements. The Board remains committed to ensuring that all
shareholders are afforded an opportunity to participate in the
Company's future.
Secondary trading post-delisting
The Company has now
appointed Asset Match (www.assetmatch.com) to facilitate trading in
the Ordinary Shares following delisting. Asset Match, a firm
authorized and regulated by the Financial Conduct Authority (FRN
579310), will operate an electronic off-market dealing facility for
the Ordinary Shares. This facility will allow existing holders of
Ordinary Shares in the Company ("Shareholders") and new investors
to trade Ordinary Shares by matching buyers and sellers through
periodic auctions.
Investors are encouraged
to register on www.assetmatch.com and add HeiQ to their 'Watchlist'
to continue to receive Company updates and auction/price
information. Please note the HeiQ page on the Asset Match website
will go live on 19 November 2024, while the investor page on HeiQs
website will reflect the private status of HeiQ going forward.
The Asset Match trading
facility operates under its own code of practice which governs the
behaviour of participants and the running of the periodic auctions.
Asset Match operates an open auction system where volumes of bids
and offers at different prices are displayed on its website
together with the closing date of the auction. At the end of each
auction period, Asset Match passes this information through a
non-discretionary algorithm that determines a "market-derived"
share price based on supply and demand and allocates transactions
accordingly. Bids and offers may be made and withdrawn at any time
before the closing date of each auction.
Shareholders will
continue to be able to hold their shares in uncertificated form
(i.e. in CREST) and should check with their existing stockbroker
whether they are willing or able to trade in unquoted shares.
Shareholders wishing to trade shares through Asset Match must do so
through a stockbroker. A comprehensive list of stockbrokers who
have signed up to access the Asset Match platform is available on
request.
Shareholders may contact
Asset Match in relation to any queries regarding trading via the
secondary market trading facility by emailing
dealing@assetmatch.com or calling Ben Weaver on 020 7248 2788
The Board would like to
thank shareholders for their continued support and will provide
additional updates as appropriate.
For further
information, please contact:
Rita Brandao
investors@heiq.com