Issue of Shares to EPS Ventures Pte Ltd.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310
23 May 2025
Sulnox Group Plc
(the "Company" or "Sulnox")
Issue of Shares to EPS Ventures Pte Ltd.
Total Voting Rights
Issue of Shares to EPS
On 13 January 2025, the Company announced the signing of a significant agreement with Eastern Pacific Shipping Pte Ltd (the "Agreement"), one of the world's largest privately-owned shipping companies (the "Announcement"). The Agreement encompasses both investment into Sulnox and a major product supply contract for its Sulnox EcoTM fuel conditioner ("Sulnox Eco").
Implementation of the Agreement has been very positive contributing to record Q4 revenues for the Company (as announced on 30 April 2025). The vessel roll-out programme is well underway, and EPS have also been very supportive with assisting Sulnox's sales efforts with some of the world's largest shipping companies.
In accordance with the terms of the Agreement, the Company has issued a total of 935,362 new ordinary shares of 2 pence each ("Ordinary Shares") to EPS Ventures Pte Ltd. As set out in the Announcement, the issue of these Ordinary Share is related to the volume of Sulnox Eco purchased over the previous quarter by EPS for use in its fleet of ships. The funds received will be used for general working capital purposes.
Ben Richardson CEO of Sulnox Ltd. commented:
"The impact of having EPS as a strategic partner has been considerable. Sulnox has shown a 34% increase in new Marine clients evaluating Sulnox Eco (55 shipping at end-Q4, against 41 companies at end-Q3), and the sales cycle is shortening in no small part due to both EPS's testimonials and support in speaking to client technical departments. Not only are direct revenues growing, but EPS also continues to introduce their extensive network and partner on Research and Development projects."
Admission and Total Voting Rights
An application will be made to admit the new Ordinary Shares for trading on the AQSE Growth Market, which is anticipated to occur on or around 30 May 2025 ("Admission"). The new Ordinary Shares will equate to 0.73% of the total Ordinary Shares on Admission. The Ordinary Shares are being issued on the terms set out in the Announcement, at 2 pence per share for a total of £18,707. The new Ordinary Shares are being issued under the Company's existing share authorities.
On Admission, the Company will have 128,188,582 Ordinary Shares in issue, each with one voting right. The Company does not hold any shares in treasury and therefore the total number of voting rights in the Company is 128,188,582. This figure should be used by shareholders from Admission 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 Company under the FCA's Disclosure Guidance and Transparency Rules.
- Ends -
For further information please contact:
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Sulnox Group plc
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Tel: 07624 491 821 |
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Allenby Capital Limited (AQSE Corporate Adviser) Nick Harriss / John Depasquale (Corporate Finance) Guy McDougall (Equity Sales) |
Tel: 020 3328 5656 |
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