First Quarter Trading Update & Exercise of Options

SulNOx Group PLC

31 July 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

31 July 2023

SulNOx Group Plc (the "Company" or "SulNOx")

First Quarter Trading Update

Exercise of Share Options

Total Voting Rights

(Aquis Stock Exchange: SNOX)

First Quarter Trading Update

The board of the directors of the Company (the "Board") announces the following trading update:

·    Unaudited 1Q24 revenues of £82,197 (4Q23 - £82,546 / 1Q23 - £32,899).

·    Q1 2024 has seen static revenues but considerable progress in business development that we expect to bear fruit in the rest of the financial year.

·    Continued progress in cost-reduction.

·    Unaudited cash balance of £839,137 as at 30 June 2023 (£522,872 as at 31 March 2023) following new strategic investment.

Exercise of Share Options

The Company has issued 100,000 new ordinary shares of 2 pence each ("Ordinary Shares") following the exercise of share options by a previous director at an exercise price of 2 pence per Ordinary Share.  An application will be made to admit the new Ordinary Shares for trading on AQSE Growth Market, which is anticipated to occur on or around 3 August 2023 ("Admission").

On Admission, the Company will have 107,811,393 Ordinary Shares in issue, each with one voting right.

Total Voting Rights

SulNOx announces that the Company's issued share capital as at the date of this announcement comprises 107,711,393 ordinary shares of 2 pence each with one voting right per share ("Ordinary Shares"). The Company does not hold any shares in treasury and therefore the total number of Ordinary Shares with voting rights in the Company is 107,711,393.  This does not include the shares yet to be admitted to trading following the Exercise of Share Options notified above.

The above figure of 107,711,393 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

- Ends -

For further information please contact:

SulNOx Group plc Steven Cowin, CFO	[e-mail]
Allenby Capital Limited (AQSE Corporate Adviser) Nick Harriss / John Depasquale	Tel: [phone]

 

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