DeepMatter Group PLC Corporate Update (4245H)
24 Novembre 2022 - 8:00AM
UK Regulatory
TIDMDMTR
RNS Number : 4245H
DeepMatter Group PLC
24 November 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN
ARTICLE 7 OF REGULATION (EU) NO 596/2014 OF THE EUROPEAN PARLIAMENT
AND OF THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE (MARKET ABUSE
REGULATION) AS RETAINED AS PART OF UK LAW BY VIRTUE OF THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018 AS AMENDED.
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE
INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
24 November 2022
DeepMatter Group Plc
Corporate Update
DeepMatter Group Plc (AIM: DMTR, "Deepmatter", the "Group" or
the "Company"), the digital chemistry data and software company,
today announces that it has been in discussions with its major
shareholders and potential institutional investors in relation to
securing capital to fund the future working capital requirements of
the Group.
Following these discussions, the board of directors (the
"Board") have concluded that the cancellation of trading in the
Company's ordinary shares on AIM (the "Cancellation") and
subsequent re-registration as a private limited company ("the
Re-registration", together with Cancellation the "Delisting") will
provide greater opportunities to raise additional capital. This
view has been supported to date by major shareholders.
In reaching this conclusion the Board has considered the
interests of the Company's shareholders as a whole and, in doing
so, has had regard for its wider stakeholders.
Any Delisting would be conditional on shareholder approval and
there can be no certainty that proposals for a Delisting will be
approved. The Board intends to continue discussions with key
stakeholders on the Delisting and a further announcement will be
made in due course.
The Company anticipates it will seek to raise c.GBP1m from its
major shareholders ahead of the Delisting, following which a more
substantial capital raise would be pursued as a private limited
company in 2023. This capital raise is being undertaken in order to
fund the long term growth ambitions of the Company.
The Group continues to expect revenue for the current financial
year to be no less than GBP1.5m and the Group has cash and short
term receivables of GBP0.7m.
For more information contact
DeepMatter Group Plc 0141 548 8156
Fraser Benson, Chief Financial Officer
Canaccord Genuity Limited (Nominated Advisor and Broker) 020
7523 8000
Bobbie Hilliam
Meare Consulting 07990 858548
Adrian Duffield
About DeepMatter Group plc
DeepMatter 's SmartChemistry(TM) platform enables scientists
across a range of industries, including pharma, biotech,
agri-science, scientific publishers and contract research
organisations (CROs), to easily capture, access and exploit the
vast amounts of data created in chemical reactions.
DeepMatter integrates its proprietary chemistry data and
proprietary software to significantly improve productivity,
efficiency, discovery, safety and sustainability of chemical
reactions for its customers.
DeepMatter's SmartChemistry(TM) platform capitalises on the
combination of its cloud technology, low cost-sensors, connectivity
to laboratory hardware and high-performance computing trends such
as artificial intelligence (AI).
Visit: www.deepmatter.io and follow @deepmattergroup
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END
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