RNS – Subscription, Exercise of Options and TVR

Please view the complete RNS on the London Stock Exchange here.

Key details of the RNS below:

Subscription

Aquila, the quoted parent company of three main trading subsidiaries which provide professional consultancy and support services to organisations and businesses involved in the affordable housing, education, sports and community services sectors, is pleased to announce a subscription by a new investor raising £250,000 through the issue of 1,086,957 new ordinary shares of £0.05 each (“Subscription Shares”) at £0.23 per Subscription Share. The funds will be used for working capital purposes.

Exercise of Options

In addition, the Company has received notices from Mr Derek Joseph, the Company’s Chair and Mr Richard Wollenberg, the Company’s Non-Executive Director to exercise an option to subscribe for new ordinary shares at a price of £0.10 per ordinary share of £0.05 each in the Company (“Option Shares”). The notices were accepted as valid and having in aggregate received funds of £82,400, the Company has accordingly issued and allotted 309,000 Option Shares to Mr Joseph and 515,000 Option Shares to Mr Wollenberg.

Directors’ Dealings

Furthermore, both Mr Joseph and certain family members of Mr Wollenberg have respectively acquired; 110,870 ordinary shares and 120,000 ordinary shares from Steve Douglas, a former director of the Company.

Disclosure of Directors’ Shareholdings

As a result of the exercise of options and dealings as set out above, Mr Joseph is now interested in 3,425,408 ordinary shares representing 8.59% of the Company’s Enlarged Share Capital.

As a result of the exercise of options, Mr Wollenberg is now interested in 2,484,682 ordinary shares representing 6.23% of the Company’s Enlarged Share Capital. It is also noted that taking into account the purchase of shares as noted above, the wider family group of Mr Wollenberg is now interested in 4,443,406 ordinary shares representing 11.15% of the Company’s Enlarged Share Capital.

Total Voting Rights

Applications have been made to the Financial Conduct Authority (“FCA”) and the London Stock Exchange for the Subscription Shares and the Option Shares to be admitted to the Official List and to trading on the London Stock Exchange’s main market for listed securities (the “Admission”). It is expected that Admission will become effective on 23 July 2020.

Following the issue of the Subscription Shares and the Option Shares, which on Admission will rank pari passu with the existing ordinary shares, the total number of ordinary shares in issue with voting rights in the Company will be 39,858,862. There are no shares held in treasury.

The above figure of 39,858,862 may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Please view the complete RNS on the London Stock Exchange here.