Intuitive Investments Group plc
Subscription to raise £607,000 at 22p including Directors' participation of £432,000
Intuitive Investments Group plc (AIM: IIG) ("IIG" or the "Company"), a closed-end investment company focussed on the life sciences sector, further to the announcement of 25 February 2022, announces the completion of the subscription of new ordinary shares of 1 penny each in the share capital of the Company ("Ordinary Shares").
The Company has raised £607,000 by the issue of 2,759,091 new Ordinary Shares (the "Subscription Shares") at a price of 22 pence per Subscription Share (the "Subscription").
The subscription price of 22 pence represents a premium of 33.3% to the closing mid-market price of 16.5 pence per Ordinary Share on 24 February 2022, being the date before the announcement of, amongst other things, the Subscription.
Directors' participation
The Subscription includes the participation of certain of IIG's Directors and David Evans who have subscribed in aggregate for 1,963,635 Subscription Shares, raising £432,000 of the £607,000 gross proceeds of the Subscription as summarised below.
| Participating Director* | Number of Existing Ordinary Shares | Amount subscribed in the Subscription | Number of Subscription Shares subscribed for | Number of Ordinary Shares following the Subscription | Percentage of IIG's share capital enlarged by the Subscription and First Tranche Consideration Shares |
| Julian Baines (Chairman) | 22,624 | £50,000 | 227,272 | 249,896 | 0.38% |
| David Evans | 5,000,000 | £132,000 | 600,000 | 5,600,000 | 8.51% |
| Robert Naylor (CEO) | 1,250,000 | £250,000 | 1,136,363 | 2,386,363 | 3.63% |
Admission and Total Voting Rights
Application has been made for the admission of Subscription Shares to trading on AIM and dealings are expected to commence at 8.00 a.m. on or around 4 March 2021.
Immediately following the admission of the Subscription Shares and the 22,589,352 First Tranche Consideration Shares (the "Admission"), the Company's enlarged share capital will comprise 65,790,267 Ordinary Shares.
Each Ordinary Share has one voting right and no Ordinary Shares are held in treasury. Accordingly, immediately following Admission, the total number of voting rights will be 65,790,267. From Admission, this figure may be used by Shareholders as the denominator for the calculation 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 FCA's Disclosure Guidance and Transparency Rules.
Defined terms used in this Announcement carry the same meanings as those ascribed to them in the Company's Announcement of 25 February 2022, unless the context requires otherwise.
For further information, please contact:
| Intuitive Investments Group plc | |
| Julian Baines, Non-Executive Chairman Robert Naylor, CEO | Via Walbrook PR |
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| SP Angel Corporate Finance LLP - Nominated Adviser | +44 (0) 20 3470 0470 |
| Jeff Keating / David Hignell / Kasia Brzozowska
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| Turner Pope Investments (TPI) Ltd - Broker | +44 (0) 20 3657 0050 |
| Andrew Thacker / James Pope |
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| Walbrook PR Limited - Media & Investor Relations | +44 (0)20 7933 8780 or intuitive@walbrookpr.com |
| Paul McManus/ Sam Allen | +44 (0) 7980 541 893 / +44 (0) 7502 558 258 |
About Intuitive Investments Group plc
The Company is an investment company seeking to provide investors with exposure to a portfolio concentrating on fast growing and/or high potential Life Sciences businesses operating predominantly in the UK, continental Europe and the US, utilising the Board's experience and in particular that of the chairman of the Investment Committee, David Evans, to seek to generate capital growth over the long term for shareholders.
Dealings by Persons Discharging Managerial Responsibilities
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| Details of the person discharging managerial responsibilities / person closely associated
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| a)
| Name | 1) Julian Baines 2) David Evans 3) Robert Naylor | |||||||||||||||
| 2
| Reason for the notification
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| a)
| Position/status | 1) Chairman 2) Chair of the Investment Committee 3) CEO
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| b)
| Initial notification /Amendment | Initial Notification | |||||||||||||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||
| a)
| Name | Intuitive Investments Group plc | |||||||||||||||
| b)
| LEI
| 2138004A32UIY92WWR66 | |||||||||||||||
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||||||||||||
| a)
| Description of the financial instrument, type of instrument | ordinary shares of 1p each | |||||||||||||||
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| Identification code | ISIN: GB00BNGFMW59 | ||||||||||||||||
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| b)
| Nature of the transaction
| Participation in Placing | |||||||||||||||
| c)
| Price(s) and volume(s) |
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2.
3.
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| d)
| Aggregated information | | |||||||||||||||
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| - Aggregated volume | 1,963,635 | ||||||||||||||||
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| - Price | 22.0 pence | ||||||||||||||||
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| e)
| Date of the transactions | 28 February 2022 | |||||||||||||||
| f)
| Place of the transaction | Outside a trading venue | |||||||||||||||
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