Placing, Subscription and Trading Update
HIGHLIGHTS
· Placing and subscription raising £262,500 at 0.20p per share, plus 0.4p warrants
· Funds raised to provide additional growth capital to match growing order book
· Company experiencing strong demand for core products in the UK and internationally
· Management increasingly confident of immediate outlook and into 2026 and beyond
Commenting on the update, Thomas Melchior, CEO of Zenova, said:
"We are very pleased with the strong start to our FX extinguisher sales, particularly in the UK where regulatory changes are driving demand for safer, more effective fire safety solutions. Achieving our first-month target of 1,000 fire extinguisher units orders demonstrates both the quality of our products and the trust our customers place in Zenova.
The funds raised through this placing will provide the working capital needed to support our expanding order book and international growth. We are confident that Zenova is well positioned to deliver on our revenue targets for this year and continue building momentum into 2026."
Fundraise
Zenova Group PLC (AIM: ZED), a global provider of fire safety and heat management technology solutions, is pleased to announce that the Company, through its corporate broker Peterhouse Capital Limited ("Peterhouse"), has conditionally raised gross proceeds of £262,500 via a placing and subscription (the "Fundraise") of 131,250,000 new ordinary shares at a price of 0.20 pence per share ("Fundraise Shares"). The Fundraise was undertaken with the support of existing shareholders, new institutional investors and several new high net worth investors.
The Fundraise will provide the Company with additional working capital to support its growing order book, particularly for its FX range of extinguishers.
As part of the Fundraise, warrants have been issued on a 1-for-1 basis, allowing new investors to subscribe for additional shares at 0.4 pence per new ordinary share, with an exercise period of 24 months from the date of admission. The Fundraise is conditional on admission.
Corporate Update
The Company is experiencing strong growth in the UK, driven in part by evolving regulations, including the phasing out of foam extinguishers containing PFAS ("forever chemicals") under the UK Fire Safety Act 2021. This regulatory shift is creating a structural increase in demand for alternatives, such as Zenova's FX range, which features a proprietary fluid capable of extinguishing all types of fires, making them among the safest and most effective extinguishers available.
Zenova set an internal target of selling 1,000 6L FX extinguishers per month, a milestone it has already achieved in the first month, with multiple customers placing recurring orders, some extending into next year.
In addition to UK growth, Zenova is securing international sales, including deliveries of 6L FX extinguishers to the Czech Republic Customs Authorities.
As previously announced, Zenova's joint venture with its distribution partner in Albania has a fully operational manufacturing facility for Zenova FP coatings. The Company has delivered its first order of Zenova FP to a new international client.
Admission & Total Voting Rights ("TVR") Statement
Prior to this Fundraise, the Company had 240,225,973 ordinary shares of £0.001 par value on issue, each with one vote per share. The Company does not hold any ordinary shares in treasury. Following the issuance of the 131,250,000 Placing Shares, the TVR will increase to 371,475,973.
Therefore, the figure of 371,475,973, post the issue of these new Fundraise Shares, can be used by shareholders to determine whether they have a notifiable interest in the share capital of the Company under the Disclosure Guidance and Transparency Rules, or if such interest has changed.
The 131,250,000 Placing Shares will be admitted to trading on AIM on or around 28 August 2025, following settlement.
Director Participation & Related Party Transaction
Thomas Melchior, CEO, has agreed to subscribe for 25,000,000 Fundraise Shares at the Issue Price. The interests of Mr Melchior in the Company's enlarged share capital will be as follows:
Director Thomas Melchior
Number of Ordinary Shares held as at the date of this announcement 0
Number of Placing Shares subscribed for 25,000,000
Resulting number of Ordinary Shares held immediately following Admission 25,000,000
Percentage Holding immediately following Admission 6.7%
Mr Melchior subscription is a related party transaction for the purposes of AIM Rule 13 of the AIM Rules for Companies. The independent directors of the Fundraise consider, having consulted with SPARK Advisory Partners Ltd, the Company's nominated adviser, that the terms of Mr Melchior subscription are fair and reasonable in so far as the Company's shareholders are concerned.
