TIDMZED
RNS Number : 1989B
Zenova Group PLC
31 May 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
("MAR") WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN
(WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN
31 May 2023
Zenova Group PLC
("Zenova", the "Company" or the "Group")
Placing to Raise GBP500,000, Total Voting Rights
Zenova Group PLC (AIM: ZED) , a provider of innovative fire
safety and heat management technology and products, is pleased to
announce that it has raised gross proceeds of GBP500,000 by way of
a placing of 12,500,000 ordinary shares at four pence (4p) each
("the Placing"). The proceeds of the Placing will provide general
working capital as the Company continues to implement its growth
strategy.
On receipt of the net proceeds of the Placing, the Company will
have cash resources of approximately GBP0.7 million. In addition,
as detailed in the Final Results announcement earlier today, the
Company has available a GBP350,000 working capital loan under which
no funds have been drawn down.
Admission and Total Voting Rights
Application will be made to the London Stock Exchange for the
admission of the 12,500,000 new ordinary shares to trading on AIM
("Admission"). Admission is expected to occur at 8.00 a.m. on or
around 6 June 2023.
Following Admission, the total number of voting rights in the
Company will be 105,884,053. As the Company holds no shares in
treasury, this figure can be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the Rules.
Tony Crawley, Chief Executive of Zenova Group plc commented: "We
are pleased to have secured additional funding to provide working
capital as we continue our focus on sales growth over the next
twelve months and beyond."
For further information please contact:
Zenova Group PLC
Tony Crawley, Chief Executive Officer Via Orana Corporate LLP:
Don Nicolson, Executive Chairman Anthony Eastman
Tel: +44 20 3475 6834
SPARK Advisory Partners Limited (Nominated Adviser)
Matt Davis / Adam Dawes Tel: +44 20 3368 3550
SI Capital Limited (Broker)
Nick Emerson Tel: +44 1483 413 500
About Zenova Group PLC
The Group, through Zenova Ltd, is the holder of intellectual
property that underpins a suite of fire safety and temperature
management products and technology. The product range is applicable
to industrial, commercial, and residential markets. The Group's
solutions include fire retardant paints, insulating paints and
render, fire extinguishing fluid and applications. Through
innovative development, and a refined formulation and development
process, Zenova provides industry leading solutions across a range
of fire protection and temperature management problems,
comprising:
Zenova FP
A water-based fire-protection paint that prevents ignition and
spread of fire. It can be used in commercial, industrial, and
domestic applications on a variety of materials, from wood to
metal.
Zenova FX
Patent pending fire extinguisher filled with proprietary Zenova
Fluid (Zenova FXB) that extinguishes all types of fires, reduces
chances of re-ignition, works in cold (-15 C) conditions, is
non-toxic and does not produce harmful by-products.
Zenova FX500
A high-performance handheld fire extinguisher that is tested by
independent experts and adheres to the highest industry standards.
The fire extinguisher is safe to use on any type of fire, reduces
the risk of reignition once the fire has been extinguished and has
been tested to the BS 6165 standard. It boasts an efficient and
compact design, allowing for it to be dispersed from any 360deg
orientation, which ensures that the Zenova FX500 is convenient to
handle and simple to operate while providing the user with a highly
effective and fast working fire extinguisher.
Zenova IP
Thermal insulation paint that creates a thermal barrier,
provides thermal reflection of sunrays and infrared radiation,
anti-condensation, and anti-mould properties. It can be applied to
virtually any exterior or interior material, regardless of the
surface.
Zenova IR
Thermal insulation render to enhance the effectiveness of
insulation by creating a thermo shield. It fills all cavities and
gaps regardless of geometric shape and creates a vacuum - the most
effective insulator.
Zenova WB
A wildfire barrier fluid (applied via spray wands or aerial
drops), which provides a virtual barrier where fire simply will not
burn. Repeated tests on a variety of extremely dry wildfire fuels
(grasses, hays, brush) demonstrates the incredible fire resistance
Zenova WB provides, while remaining viable after application for
30+ days in dry conditions.
Zenova CS
Patent pending next generation ceiling sprinkler filled with
proprietary Zenova Fluid (Zenova FXB) that removes the need to
install large fluid tanks, piping, complicated equipment, and
software. This sprinkler could be installed in the kitchen.
The Group has achieved this without compromising the
sustainability of natural and economical resources, including
personal health and safety, with ecologically sound products.
Further information on the Group can be found at
www.zenovagroup.com
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