AUS
NZ
UK
CA
USA
IND
Highlights
Zenova raises £262,500 through a placing and subscription of 131.25 million shares at 0.20p per share, alongside warrants at 0.40p.
Demand for FX extinguishers driven by UK regulatory changes and international orders, including supply to the Czech Republic.
CEO Thomas Melchior participates in the fundraising with a 6.7% post-admission stake.
Zenova Group PLC (AIM:ZED), a provider of fire safety and heat management technology, has announced a conditional placing and subscription that will raise £262,500. The proceeds will provide additional working capital to meet demand from its expanding order book, particularly for the Company’s FX extinguisher range.
Fundraise Details
Through its corporate broker Peterhouse Capital Limited, Zenova has placed 131,250,000 new ordinary shares at a price of 0.20 pence per share. The placing and subscription attracted participation from existing shareholders, institutional investors, and several new high net worth investors.
In connection with the fundraising, warrants have been issued on a one-for-one basis. These give investors the right to subscribe for additional shares at 0.40 pence per share within 24 months from admission. The fundraising remains conditional on admission of the new shares to trading on AIM, expected on or around 28 August 2025.
Following admission, Zenova’s issued share capital will increase from 240,225,973 to 371,475,973 ordinary shares.
Operational and Market Progress
Zenova reported increasing demand in the UK for its FX extinguisher range, supported by regulatory changes under the Fire Safety Act 2021, which is phasing out extinguishers containing PFAS chemicals. The Company highlighted that its FX extinguishers, which utilise a proprietary fluid capable of tackling multiple fire types, are positioned as an effective alternative in the market.
The Company set an internal monthly target of selling 1,000 6L FX extinguishers, a level already achieved in the first month. Zenova has received repeat orders from multiple customers, with some contracts extending into the next financial year.
International expansion is also progressing, with deliveries of 6L FX extinguishers to the Czech Republic Customs Authorities. In Albania, the Company’s joint venture with a distribution partner has established a fully operational facility for manufacturing Zenova FP coatings, with the first international order already delivered.
Director Participation
As part of the fundraising, CEO Thomas Melchior has subscribed for 25,000,000 shares, representing approximately 6.7% of the Company’s enlarged share capital. His participation is classified as a related party transaction under AIM rules. The Company confirmed that its independent directors, in consultation with its nominated adviser SPARK Advisory Partners, consider the terms fair and reasonable for shareholders.
Zenova stated it is experiencing significant demand for its core products both in the UK and internationally. Management expressed confidence in the Company’s outlook through 2026 and beyond.
