Directa Plus (AIM: DCTA), a leading producer and supplier of graphene nanoplatelets based products for use in consumer and industrial markets, has announced that it has entered into a conditional agreement to acquire 51 per cent. of the issued share capital of Setcar S.A. (“Setcar”), a Romanian waste management and decontamination services business, for a total cash consideration (together with its acquisition partner, GVC) of €4.1 million, (the “Acquisition”).
In addition, the Company announces a conditional placing of new ordinary shares in the Company and the launch of an open offer to raise up to £8.24 million before expenses.
Directa Plus has conditionally raised approximately £7.24 million before expenses by the placing of 9,648,000 Placing Shares at a price of 75 pence per Placing Share.
The Company is also making an Open Offer, for up to 1,345,169 million new Ordinary Shares, to raise up to approximately £1 million, on the basis of 1 Open Offer Share for every 38 Existing Ordinary Shares held by Qualifying Shareholders at the Record Date.
Singer Capital Markets is acting as Joint Broker to Directa Plus plc.
About Directa Plus
Our focus is principally on the two sectors in which we have strong commercial advantage through developed and launched products and a technological lead: environmental (based on our Grafysorber® product) and textiles (based on our G+ products). In addition, we will continue to pursue opportunities in elastomers and composites (including tyres and asphalt), also using our G+ products. All our products are hypoallergenic, non-toxic and sustainably produced.
Market Cap: £37 million*
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