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Quadrise reports successful results of placing and subscription, Launches open offer

Quadrise Plc (LON:QED), the supplier of innovative energy solutions for a cleaner planet, has announced the successful results of the Placing and Subscription announced on 18 March 2024 and to confirm the launch of the Open Offer to Qualifying Shareholders.

The Company has conditionally raised total gross proceeds of £1.5 million pursuant to the Placing of 118,922,107 Placing Shares and the Subscription of 1,077,893 Subscription Shares in each case at the Issue Price of 1.25 pence per New Ordinary Share. The gross proceeds of the Placing and Subscription are expected to be supplemented by additional gross proceeds of up to approximately £1 million to be raised pursuant to the Open Offer.

A circular containing detailed information about the Open Offer, including the terms and conditions and details on how to accept the Open Offer and an accompanying Application Form (for Qualifying Non-CREST Shareholders) will shortly be posted to Shareholders.

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