KRM22 PLC Update on Fundraising (6550X)
May 01 2019 - 1:00AM
UK Regulatory
TIDMKRM
RNS Number : 6550X
KRM22 PLC
01 May 2019
KRM22 plc
("KRM22" or the "Company")
Update on Fundraising
KRM22 plc, (AIM: KRM) the technology and software investment
company that focuses on risk management for capital markets,
announces further to its announcement of 3 April 2019 regarding the
fundraising, that Keith Todd, Executive Chairman and CEO of the
Company, will subscribe for 235,295 new ordinary shares of 10 pence
each in the Company ("Ordinary Shares") at a price of 85 pence (the
"Subscription") which he irrevocably undertook to do should the
final tranche of the fundraising subscription not complete by 30
April 2019.
Keith Todd will be making the Subscription following the
publication of the Company's final results for the year ended 31
December 2018, which is expected by late May to mid-June 2019. A
further announcement will be made when the Subscription is
complete.
Also further to the announcement of 3 April 2019, the proposed
on-market trade on behalf of Stephen Casner, Chief Executive
Officer USA of the Company, to purchase 129,412 Ordinary Shares at
the Issue Price from finnCap has not yet been possible to execute
and settle. Stephen Casner continues to explore ways to complete
this investment in the Company and if it is possible, will do so
following the publication of the Company's final results as
referenced above.
Capitalised terms not otherwise defined in this announcement
shall have the same meaning ascribed to such terms in the Company's
announcement on 3 April 2019 regarding the Fundraising, unless the
context requires otherwise.
For further information please contact:
KRM22 plc
InvestorRelations@krm22.com
Keith Todd CBE, Executive Chairman and CEO
Karen Bach, COO
finnCap Ltd (Nominated Adviser and Sole Broker) +44 (0)20 7220
0500
Carl Holmes / Kate Bannatyne
About KRM22 plc
KRM22 is a closed-ended investment company which listed on AIM
on 30 April 2018. The Company has been established with the
objective of creating value for its investors through the
investment in, and subsequent growth and development of, target
companies in the technology and software sector, with a focus on
risk management in capital markets.
Through its investments and the Global Risk Platform, KRM22
helps capital market companies reduce the cost and complexity of
risk management. The Global Risk Platform provides applications to
help address firms' regulatory, market, technology and operations
risk challenges and to manage their entire enterprise risk
profile.
Capital markets companies' partner with KRM22 to optimize risk
management systems and processes, improving profitability and
expanding opportunities to increase portfolio returns by leveraging
risk as alpha.
KRM22 PLC is listed on AIM and the Group is headquartered in
London, with offices in several of the world's major financial
centres.
See more about KRM22 at KRM22.com.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDURSKRKBASOAR
(END) Dow Jones Newswires
May 01, 2019 02:00 ET (06:00 GMT)
Krm22 (LSE:KRM)
Historical Stock Chart
From Apr 2024 to May 2024
Krm22 (LSE:KRM)
Historical Stock Chart
From May 2023 to May 2024