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On 02 May 2025, Geiger Counter Limited announced that applications were received from shareholders to subscribe for 101,658 new ordinary shares at a price of 74.58 pence per share as part of a subscription rights exercise. The Board subsequently determined that no new Ordinary Shares would be issued, citing the Ordinary Share price trading between 28 pence and 36 pence since April 2025, which was materially lower than the Subscription Price. Applicants are to be refunded.
| Date | 2 May 2025 |
| Time | 07:05:02 |
| Category | Capital structure |
| ID | 2222H |
2 May 2025
GEIGER COUNTER LIMITED
(THE "COMPANY")
Result of subscription rights exercise for Ordinary Shares
The Board of the Company announces that applications have been received from shareholders to subscribe for 101,658 new ordinary shares of no par value ("Ordinary Shares") at a price of 74.58 pence per share (the "Subscription Price").
The Board have determined however, that due to the Ordinary Share price (being materially lower than the Subscription Price both currently and during the run up to the close of the Subscription Rights exercise, it would not be in the best interests of the Company to issue new shares at this level. As a reference the Ordinary Shares have traded between 28 pence and 36 pence since the beginning of April 2025.
Accordingly, the Company announces that no new Ordinary Shares will be issued as a result of the subscription rights exercise for 2025 and that applicants will be refunded by the Registrar as soon as possible.
For further information, please contact:
Enquiries
|
Manulife | CQS |
Craig Cleland |
T: +44 (0) 20 7201 5368
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Cavendish Capital Markets Limited |
Tunga Chigovanyika (Corporate Finance)
|
T: +44 (0) 20 7397 1915
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|
Daniel Balabanoff / Pauline Tribe (Sales)
|
T: +44 (0) 20 7220 0517 |
|
R&H Fund Services (Jersey) Limited |
Jane De Barros |
T :+44 (0) 1534 825 259 |