Directa Plus plc raise £7 million
Singer Capital Markets is delighted to have acted as Joint Broker to Directa Plus plc on its fundraise of £7 million.
The Company raised gross proceeds of £7 million through the successful placing of, and subscription for, a total of 4,666,667 New Ordinary Shares at the Issue Price of 150 pence each by way of an Accelerated Bookbuild process.
The New Ordinary Shares will represent in aggregate 7.1 per cent. of the Company’s Enlarged Issued Share Capital following Admission.
Admission is expected to commence at 8:00am on 30 December 2021.
Use of Proceeds:
The net proceeds from the Fundraising is to be used to fund what it regards as two significant future growth opportunities in existing verticals.
Water treatment plant and absorbent materials
The Company plans to invest approximately £1.9 million in the development of its Grafysorber® technology, to broaden the number of applications offered in its Environmental remediation vertical, and in the construction of a water treatment plant, providing dedicated equipment for in-house treatment of industrial water and for the removal of hydrocarbons and other organic pollutants using its Grafysorber® technology.
The Company also plans to continue its research and development activities for the production of absorbent materials such as Grafysorber®-made booms, pillows, socks and pads for the oil and gas industry and others and to locate a Grafysorber® production unit in Sectar’s premises in Romania, close to existing customers.
Air and water filters
The Company plans to invest approximately £1.3 million to advance the application of Directa Plus’ G+® technology to non-woven fabrics to confer antibacterial and antiviral properties. The Company is targeting new markets leveraging on its progress in air-filter applications.
As announced on 1 December 2021, the Company has signed a Letter of Intent with an Italian-based global chemicals and materials group and a major player in the non-woven materials industry to collaborate on an exclusive basis for an initial period of 12 months. The collaboration will see Directa Plus G+® technologies combined with those of its partner to develop specific products for the global air and water filtration markets. If the initial collaboration is successful and the technical results envisaged are achieved, the two companies will negotiate a technical and commercial partnership agreement.
Sir Peter Middleton, Non-Executive Chairman, commented:
“Directa Plus has made consistent progress towards its goal of commercialising its graphene products and processes with a high quality, growing roster of customers. The Fundraising will enable the Company to accelerate that progress by providing funds for investment in what the Board considers to be exciting opportunities. We look forward to beginning the next phase of growth.”
About Directa Plus plc
Directa Plus has a unique and proven process for the production of pristine, chemical free graphene nanoplatelets, tailored to its partners’ and customers’ requirements and which is both flexible and scalable. The Company also holds the Green Economy Mark from the London Stock Exchange which recognises companies that contribute to the global green economy.
Market Cap: £97.88 million*
Website: Click here
*As at 14/12/2021