Pennant International Group plc (LON:PEN) the Integrated Product Support (IPS) software and services company, has announced that, further to the announcement made on 23 May 2024 regarding the Fundraising, it has conditionally raised a total of approximately £1.36 million, pursuant to a placing of 3,831,767 Placing Shares and a subscription for 1,600,000 Subscription Shares, both at the Issue Price of 25 pence per Ordinary Share.
As previously announced, certain of the Company’s management team have confirmed their intention to potentially subscribe for an additional £200,000 through the Directors’ Intended Subscription. As the Company is currently in a close period under MAR until the publication of its FY23 Results, the Directors are not permitted to enter into a subscription agreement until after publication of these (and subject to each not being in possession of any other unpublished price sensitive information at such time). Assuming the Directors’ Intended Subscription proceeds, the Company will apply for admission of the relevant Directors’ Subscription Shares to trading on AIM separately and to take effect following the publication of the FY23 Results and the admission of the Placing Shares and Subscription Shares.
