Strix Group PLC - Isle of Man-based supplier of kettle safety controls and water temperature management components - Intends to undertake equity placing of 10.9 million shares at 80 pence each, a nil discount to Monday’s closing price. Gross proceeds to total £8.7 million. Placing represents 5.0% of issued share capital. Strix says placing originates from reverse inquiry from existing shareholder for 8.7 million shares allocated on a firm basis and 2.2 million shares subject to clawback from the participation of existing shareholders. Placing was agreed to by shareholders and will be conducted through an accelerated bookbuild process. Stifel Nicolaus Europe Ltd and Zeus Capital Ltd to act as joint bookrunners. Bookbuild is effective immediately.

Current stock price: 80.00 pence

12-month change: down 27%

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