Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

21 March 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (AS AMENDED) (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED)). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Plexus Holdings PLC

('Plexus' or 'the Company')

Results of Retail Offer

Further to the announcement by the Company in respect of the Retail Offer dated 19 March 2025 (the "Retail Offer Announcement"), Plexus Holdings PLC (AIM: POS), is pleased to announce that, following the closing of the Retail Offer on the BookBuild platform on 21 March 2025, the Company has conditionally raised total gross proceeds of £0.5 million (the "Retail Offer") by way of a successful subscription for a total of 7,692,307 Retail Offer Shares at the Issue Price of 6.5 pence per share in connection with the Retail Offer, which was significantly oversubscribed.

Allocations were made to existing Shareholders, applying the principles of soft pre-emption.  Given the significant demand, existing Shareholders received c.74% of their soft pre-emptive allowance ¹.

Admission and Total Voting Rights

An application will be made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM, subject to the passing of the Resolutions at the General Meeting. Admission is expected to become effective in respect of, and dealings on AIM are expected to commence in, all of the New Ordinary Shares, at 8:00 a.m. on 8 March 2025.

Further to the Company's announcement released at 7.00 a.m. on 19 March 2025 and assuming that the Subscription and Conversion proceeds, following Admission of the New Ordinary Shares, the Company will have 172,691,366 Ordinary Shares in issue with the Company holding no Ordinary Shares in treasury. Therefore, the total number of voting rights will be 172,691,366. This figure may 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 share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. 

Other than where defined, capitalised terms used in this announcement have the meanings given to them in the Retail Offer Announcement.

ENDS

For further information please visit www.plexusplc.com or contact:

¹ - Soft Pre-emptive allowance Calculation: Existing shares X c. 62% (Dilution from total new shares being issued) = Soft Pre-emptive allowance allocation shares

NOTES

Plexus Holdings plc (AIM: POS) is an IP-led company specialising in developing and providing wellhead systems and associated products and services for offshore operations.

Headquartered in Aberdeen, the company focuses on providing wellheads for Jack-up rig operations such as exploration and appraisal drilling, Plug & Abandonment work and emerging markets for Carbon Capture & Storage, hydrogen production and storage and geothermal. Plexus has a collaboration agreement with SLB to supply Exact adjustable wellhead systems for Jack-up applications and supports these operations with a range of proprietary equipment and tools, and project engineering services.

Plexus is known for its highly innovative POS-GRIP® wellhead technology and HG® metal-to-metal sealing systems, for which licences have been sold to major industry players such as SLB and TechnipFMC for limited applications. Plexus continues to develop products based on POS-GRIP technology for challenging surface production wellhead platforms, special projects and connector and subsea applications such as the Python® subsea wellhead system.

Plexus has always been at the forefront of innovation to reduce risk and improve performance in the energy industry, such as developing through-BOP wellhead systems which help to prevent blow-outs, and POS-GRIP "HG" Seals which are leak-free throughout field life and so reduce methane emissions and minimise maintenance costs. These innovations support the oil and gas industry's ESG and NetZero, and in recognition of this, Plexus was Awarded the London Stock Exchange's Green Economy Mark in 2021.

For more information visit: https://www.plexusplc.com/