Open Offer Launch, Posting of Circular, GM Notice

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR

INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

9 July 2021

essensys plc

Launch of Open Offer, Posting of Circular

and

Notice of General Meeting

essensys plc (AIM: ESYS) ("essensys", the "Company" or, together with its subsidiary undertakings, the "Group"), the leading global provider of mission critical software-as-a-service ("SaaS") platforms and on-demand cloud services to the flexible workspace industry, is pleased to announce that, further to the Company's announcement on 8 July 2021 (the "Launch Announcement"), it is proposing to raise up to approximately £2.0 million (before expenses) through an Open Offer pursuant to which Qualifying Shareholders will have an opportunity to subscribe for an aggregate of 701,755 Open Offer Shares at an Offer Price of 285 pence per Open Offer Share.

Pursuant to the Open Offer, Qualifying Shareholders will be given the opportunity to subscribe for:

1 Open Offer Share for every 75.16 Existing Ordinary Shares

held by Qualifying Shareholders at the Record Date and so on in proportion for any other number of Existing Shares then held.

Any Open Offer Shares not subscribed for by Qualifying Shareholders will be available to Qualifying Shareholders under the Excess Application Facility and as such, Qualifying Shareholders seeking to limit their dilution from the Placing can also request additional Open Offer Shares ("Excess Shares") under the Excess Application Facility. The Open Offer is not being underwritten. 

The Open Offer is conditional upon, among other things (i) the Resolutions being duly passed by Shareholders at the General Meeting and (ii) Admission having become effective at or before 8.00 a.m. on 27 July 2021 (or such later time and/or date as the Joint Bookrunners may agree with the Company not being later than 8.00 a.m. on 10 August 2021).

Posting of Circular

The Company also confirms that a circular, which contains further details regarding the Open Offer and a notice convening the General Meeting (the "Circular"), has been posted today to Qualifying Shareholders, along with the Application Form (where applicable). The Circular will also be made available on the Company's website: www.essensys.tech/investors.

Notice of General Meeting

The General Meeting has been convened for Monday 26 July 2021 at 9:30 a.m. at the offices of the Company, Aldgate Tower, 7th Floor, 2 Leman Street, London E1 8FA.

Capitalised terms used in this announcement have the meanings given to them in the Circular, unless the context provides otherwise.

For further information, please contact:

Expected Timetable for the Fundraising

Each of the times and dates above refer to London time and are subject to change. Any such change will be notified to Shareholders by an announcement through a Regulatory Information Service. All events listed in the above timetable following the General Meeting are conditional on the passing of the Resolutions at the General Meeting.