Statement re share price movement & press coverage

RNS Number : 8151M

Nightcap PLC

25 January 2021

 

25 January 2021

Nightcap plc

("Nightcap" or the "Company")

Statement re share price movement and press coverage

Nightcap plc notes the recent increase in the Company's share price and the recent press coverage in relation to the Company. 

As noted in the Company's AIM admission document dated 7 January 2021 (the "Admission Document") and the Company's announcement of 13 January 2021, in conjunction with the admission of the Company's ordinary shares to trading on AIM on 13 January 2021 ("Admission") Nightcap raised gross proceeds of £4.0 million (representing net proceeds of approximately £3 million) through a fundraising that was comprised of a placing and an offer through PrimaryBid. 

As stated in the Company's Admission Document, as at 30 November 2020, Nightcap had cash and cash equivalents of approximately £1.24 million, which was raised through a private pre-IPO fundraising earlier in 2020.

As also noted in the Company's Admission Document, Nightcap acquired upon Admission the London Cocktail Club Limited for an initial consideration of £5.7 million (subject to adjustment in accordance with the terms of the acquisition agreement). Over 97% of  this initial consideration was satisfied by the issue of 55,378,837 new Nightcap ordinary shares, with a small cash component of £162,116.

For further enquiries:

Nightcap plc Sarah Willingham / Toby Rolph / Gareth Edwards	c/o Fleet Street Communications
Allenby Capital Limited (Nominated Adviser and Broker) Nick Naylor / Alex Brearley (Corporate Finance) Matt Butlin / Amrit Nahal / Tony Quirke (Sales and Corporate Broking)	[phone] www.allenbycapital.com
Fleet Street Communications (Financial PR) Mark Stretton / Mike Berry	[phone] www.fsc.uk.com

The Company's Admission Document is available at: www.nightcapplc.com  

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