Avacta Group plc has raised £10 million through an oversubscribed placing and subscription, highlighting strong investor demand.
The new shares were issued at 63p each, with directors Richard Hughes and David Bryant participating via a £550,000 subscription, signalling internal confidence in the company.
As part of the fundraising, Zeus Capital will receive warrants over 4,364,457 shares (around 0.96% of the enlarged share capital), exercisable at 63p over five years.
The involvement of Zeus Capital and the director participation are classified as related party transactions, which independent directors have confirmed are fair and reasonable.
Admission of the new shares to AIM is expected on or around 7 April 2026, taking the total number of shares in issue to 456,288,511.
Director Subscriptions
As described in the Launch Announcement, certain Directors, being Richard Hughes and David Bryant (the “Subscribers”), have subscribed for 873,016 new Ordinary Shares at the Issue Price, representing an aggregate investment of approximately £550,000 pursuant to the Subscription.
|
Director |
Position |
Aggregate Subscription Amount |
Number of Subscription Shares |
Resultant Shareholding |
% of Enlarged Share Capital |
|
Richard Hughes |
Non-Executive Director |
£500,000 |
793,651 |
793,651 |
0.17 |
|
David Bryant |
Non-Executive Director |
£50,000 |
79,365 |
79,365 |
0.02 |
About Avacta – https://avacta.com/
