LONDON - CRUSHMETRIC Group Limited, a global enterprise, has successfully completed a private placement of 798,448 new Ordinary shares at 12.5p each, raising approximately £99,806. The company stated that the capital acquired will be directed towards general working capital needs. The new shares are anticipated to be admitted for trading on the Aquis Growth Market around December 12, 2024.
Following the share issuance, the total number of Ordinary Shares in the company will reach 241,294,192, with each share entitled to one vote. CRUSHMETRIC confirmed that it does not hold any shares in Treasury. This share count will serve as the denominator for shareholders to determine if they need to disclose changes in their stake in the company according to the Financial Conduct Authority's Disclosure and Transparency Rules.
In addition to the financial news, CRUSHMETRIC disclosed the resolution of a legal dispute with a distributor. Stemming from a conflict announced on September 8, 2022, its subsidiary Star Collaboration (Guangzhou) Limited has reached a settlement agreement, agreeing to pay the distributor approximately £166,000 (about RMB1,500,000). This settlement concludes the legal proceedings between the two parties.
The directors of CRUSHMETRIC have taken responsibility for the contents of this announcement, which is based on a press release statement.
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