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Highlights:
- 68.7 Million New Shares: Rosslyn Data Technologies is issuing 68.7 million new shares as part of a broad fundraising initiative.
- Chairman’s Subscription: James Appleby will subscribe for 5.28 million new shares following the company's 2024 results.
- AIM Admission: The newly-issued shares will be admitted to trading on AIM, with the date set for 28 October.
Rosslyn Data Technologies (LSE:RDT), a cloud-based enterprise data analytics provider, announced a significant fundraising initiative, which will see the issuance of 68.7 million new shares. This fundraising aims to bolster the company’s capital structure and includes a combination of placing, retail offer, and conversion shares. The company explained that priority was given to its existing shareholders during the retail offer.
The fundraising includes 32.72 million placing shares and 13.33 million conversion shares, all subject to shareholder approval at a general meeting scheduled for 25 October. The newly-issued shares will be admitted to trading on the AIM market, with the date set for 28 October, following the completion of the company’s capital reorganisation.
Non-executive chairman James Appleby has also committed to subscribe for an additional 5.28 million new shares at the issue price, contributing £0.26 million to the company after the release of its 2024 financial results. A separate application will be made to list these additional shares on AIM.
At 1330 BST, Rosslyn Data Technologies’ shares were trading down 5.91%, at 6.02p.
This fundraising effort reflects Rosslyn’s strategy to strengthen its financial position while offering allocation preference to its existing shareholders.
