Subscription for Shares

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

This announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any decision in respect of Everest Global plc or other evaluation of any securities of Everest Global plc or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

24 January 2023   

For Immediate Release

Everest Global plc

(“EG” or the “Company”)

Subscription for Shares

The Company is pleased to announce the subscription (the "Subscription") for 12,726,000 new Ordinary Shares (the "Subscription Shares"), the Company raised net proceeds totalling £699,930 at a Subscription Price of 5.5 pence per share.

The Subscription Price represents a premium of 119 per cent to the closing price of 2.51 pence on 20 January 2023, being the business day prior to agreement of the Subscription. The Subscription is being conducted pursuant to the existing authorities granted to the Directors of the Company at its annual general meeting on 29 April 2022. The Subscription Shares represent approximately 21.62 per cent. of the Company's issued share capital as enlarged by the Subscription Shares.

The purpose of the Subscription is principally to fund general working capital purposes.

The shareholders taking part in the subscription will each also receive 1 warrant for each Subscription Share. Each warrant conveys the right to subscribe for a further new ordinary share at an exercise price of 5.5p up until 31 December 2024.

In compliance with Prospectus Regulation Rule 1.2.4, which prohibits the admission of more than 20% of the number of securities already admitted to trading on the Main Market of the London Stock Exchange without a Prospectus, the Company intends to publish a Prospectus in relation to the issue of the Subscription Shares in order to enable those shares to be admitted to trading on the Main Market of the London Stock Exchange in accordance with Listing Rule 14.3.4.
 

As a result of the issue of the subscription shares, the following is the shareholdings in the company above 3% before and after the subscription, in addition to Directors shareholding, as far as the Directors are aware, that are required to be disclosed in the Company.

Shareholder	Pre-Subscription Shareholding	Pre-Subscription %	Post-Subscription Shareholding	Post-Subscription %
Golden Nice International Limited	13 000 000	28.16%	13 000 000	22.08%
Lynchwood Nominees Limited	8 773 542	19.01%	8 773 542	14.90%
Ms Chen Fangling	-	-	6 363 000	10.81%
Mr An Xiangyu	-	-	6 363 000	10.81%
VSA Capital Limited	5 700 639	12.35%	5 700 639	9.68%
Interactive Investor Services Nominees Limited	2 967 857	6.43%	2 967 857	5.04%
Vidacos Nominees Limited N1	552 599	1.20%	552 599	0.94%

^{N1 – R Scott, a director, hold his shares in Carimar International Holding Limited which are held by Vidacos Nominees Limited}

The total number of Ordinary Shares in issue with voting rights in the Company will be 58,888,855 (“Total Voting Rights”). No shares are held in treasury. The Total Voting Rights figure may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please visit www.everestglobalplc.com or contact the following:

E verest Global plc
Andy Sui, Chief Executive Officer Rob Scott, Non-Executive Director	[phone] [phone]