Issue of Equity, Amendment to Warrants
Summary by AI BETAClose X
8 July 2026
Intuitive Investments Group plc
("IIG" or the "Company")
Issue of Equity, Amendment to Warrants & Rule 2.9 Announcement
IIG announces that it has agreed to allot and issue, in aggregate, 522,838 new ordinary shares of 10 pence each in the capital of the Company (the "Ordinary Shares", and such 522,838 Ordinary Shares being the "New Ordinary Shares").
The New Ordinary Shares will be issued in consideration for services provided to the Company in connection with the Company's proposed acquisition by Acceler8 Ventures plc and previous corporate advisory services.
Application has been made for the New Ordinary Shares to be admitted to trading on Specialist Fund Segment of the Main Market of the London Stock Exchange plc.("Admission"). Admission is expected to become effective at 8.00 a.m. on or around 10 July 2026.
The New Ordinary Shares will rank pari passu in all respects with the Company's existing ordinary shares.
IIG Warrants amendment
On 26 October 2023 IIG issued warrants to subscribe for 39,967,785 Ordinary Shares (the "Warrant") at a subscription price of £0.1566 per Ordinary Share to Mannerston Investments Limited. Following a 1:10 share consolidation on 29 February 2024, the number and nominal amount of Ordinary Shares to be subscribed for under the Warrant was adjusted to 3,996,779 Ordinary Shares at a subscription price of £1.56632 per Ordinary Share.
The instrument pertaining to the Warrant was amended on 7 July 2026. Under the revised terms of the Warrant instrument, the subscription price was reduced from £1.56632 per Ordinary Share to £0.10 per Ordinary Share (being the nominal amount of an Ordinary Share). In return for this reduction in the subscription price the total number of Ordinary Shares which could be subscribed for under the Warrant instrument was reduced from 3,996,779 to 2,010,149. This amendment reduced the aggregate subscription price payable on the exercise of the Warrant in full from £6,260,234.89 to £201,014.90, with the reduction in the number of Ordinary Shares to be issued being calculated by reference to the closing share price of an Ordinary Share of £3.05 on 30 June 2026, the last practicable day prior to the agreement of the amendment. Further details of the context of the amendment will be set out in the Scheme Document in due course.
Rule 2.9 disclosure & Total Voting Rights
In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, the Company confirms that, with effect from Admission, its issued ordinary share capital will consist of 240,582,612 ordinary shares of 10 pence each in the capital of the Company, which will be admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange plc. The Company does not hold any ordinary shares in treasury. The International Securities Identification Number for such ordinary shares is GB00BPTH6Y20, and the Company's LEI number is 2138004A32UIY92WWR66.
The above figure may be used by shareholders from Admission as the denominator for the calculations by which they determine whether 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.
Enquiries:
|
Intuitive Investments Group plc Sir Nigel Rudd, Non-Executive Chairman Giles Willits, CEO
|
Via FTI Consulting |
|
Zeus Dominic King / James Hornigold |
+44 (0)20 3829 5000 |
|
|
|
|
FTI Consulting John Waples / Valerija Cymbal / Jemima Gurney |
+44 (0)20 3727 1000 IIG@fticonsulting.com |
About Intuitive Investments Group plc
IIG is a closed-end investment company focused on fast growing and high potential investment opportunities. Following its move to the Specialist Fund Segment of the London Stock Exchange, IIG made an investment in Hui10 in October 2023 which now forms its main investment focus.
About Hui10
Hui10 is a technology company involved in the digital transformation of the Chinese lottery. Its paperless lottery play platform unlocks the market expansion of the Chinese lottery aiming to increase the number of people playing the lottery from the current 10% participation level to target more than 30%. Lucky World is Hui10's omnichannel commerce platform which provides China's existing 200,000 lottery only shops access to a wider fastmoving consumer goods product offering through its growing number of commercial partnerships with leading Chinese suppliers.
Important notices
The release, distribution or publication of this announcement in jurisdictions other than the United Kingdom and the availability of any offer to shareholders of IIG who are not resident in the United Kingdom may be affected by the laws of such relevant jurisdictions. Therefore, any persons who are subject to the laws of any jurisdiction other than the United Kingdom or shareholders of IIG who are not resident in the United Kingdom should inform themselves about and observe any applicable requirements.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of IIG or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) IIG and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 p.m. (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of IIG or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of IIG or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of IIG or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) IIG and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. (London time) on the business day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by IIG and by any offeror and Dealing Disclosures must also be made by IIG, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Takeover Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.
The defined terms used in this section "Disclosure requirements of the Code" are defined in the Code which can be found on the Takeover Panel's website.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 55 minutes ago Frasers Group
- 1 hour ago Europa Oil & Gas (Holdings)
- 2 hours ago Rightmove
- 2 hours ago Volta Finance Limited NPV (GBP)
- 2 hours ago Bytes Technology Group