The Board of Kromek is pleased to announce that at its General Meeting held today all of the resolutions, as set out in the Circular dated 12 February 2021 relating to a conditional Placing to raise £10.0 million and an Open Offer to raise up to an additional £3.0 million, were duly passed. The Company is also pleased to announce that it has raised £3.0 million via the Open Offer and, accordingly, has raised total gross proceeds of approximately £13.0 million through the Transaction.
The Open Offer closed for acceptances at 11.00 a.m. on 26 February 2021 and was oversubscribed. Valid acceptances have been received in respect of 70,437,483 Open Offer Shares, representing approximately 347 per cent. of the Open Offer Shares available under the Open Offer. In accordance with the terms and conditions of the Open Offer, all applications made pursuant to the Open Offer (other than Excess Shares applied for under the Excess Application Facility) have been met in full and a scaling back exercise has been undertaken in respect of applications for Excess Shares. The Company has therefore raised gross proceeds of approximately £3.0 million through the Open Offer.