1 August 2025

Built Cybernetics plc

("Built Cybernetics", the "Company", or together with its subsidiaries, the "Group")

Fundraise

Introduction

The directors of Built Cybernetics (AIM: BUC), the Smart Buildings group, are pleased to announce that the Company has raised £595,000 through the issue of Convertible Loan Notes ("CLNs") and expects to issue a further £250,000 of CLNs shortly to make a total of £845,000. The CLN instrument (the "CLN Instrument") allows for a total of £2,000,000 to be raised in aggregate through the issue of CLNs the principal terms of which are summarised below.

The Company remains in discussions with respect to further subscriptions of CLNs and further announcements will be made as and when necessary.  

Background and Reasons for the Issue

As previously disclosed, the Group is in the final year of repayment of its outstanding CBILS facility and has low levels of debt.

The new funding strengthens the Group's balance sheet and provides greater financial flexibility to support the continued execution of its Smart Buildings strategy. It is expected to reduce overall debt servicing costs and enhance the Group's ability to invest in innovation, operations, and planned growth initiatives.

Principal Terms:

Terms of the CLNs are as follows:

Amount: Up to £2,000,000.

Interest Rate: 12% pa gross, payable quarterly in cash at the end of each calendar quarter.

Repayment Date: 31 December 2027.

Conversion: at the discretion of each holder, convertible at the end of each calendar quarter, on or before 31 December 2027, or upon the occurrence of certain other specified events.

Conversion price: the CLNs are convertible into ordinary shares at a price of 3p, being a premium of 28% to the closing mid-market price of 2.35p on 31 July 2025, the latest practicable date before this announcement.

Security: the CLNs are an unsecured obligation of the Company.

Additional Borrowings: pursuant to the terms of the CLN Instrument, and subject to certain exemptions specified therein, the Company has agreed that, from and including the date of the CLN Instrument, it will not incur third-party borrowings exceeding £3,000,000 (inclusive of the CLNs) without the prior consent of CLN holders who together hold at least 75% of the outstanding CLNs.

Early Repayment: if the Company wishes to procure Additional Borrowings and the required consent of the CLN holders is not obtained, the Company may, subject to the CLN holders electing to immediately convert their CLNs, repay the outstanding CLNs. 

About Built Cybernetics plc

Built Cybernetics is a London-quoted PropTech group delivering Smart Buildings and related services. The Group is uniquely positioned to ensure the technical systems that run modern premises are designed as an integral part of the structure, from the outset. By cross-selling smart buildings services alongside our renowned architecture projects, the Group's strategy positions Built Cybernetics plc to build beyond one-off project fees and generate scalable and recurring revenues for our investors.

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PDMR Notification

The below notification is made in accordance with the Article 19 of the Market Abuse Regulation (EU) 596/2014, as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended.