Share Subscription of £171,200, Board Change and Announcement of Results for FY24
Majestic Corporation P.L.C.
(the "Company" or "Majestic")
Share Subscription of £171,200, Board Change and Announcement of Results for FY24
Majestic Corporation Plc (AQSE:MCJ), a sustainable circular economy solutions provider specialising in recycling and non-ferrous metals, is pleased to announce the successful subscription of 214,002 new ordinary shares of 0.5p each in the Company at 80p per share, raising gross proceeds of £171,200 (the "Subscription"). The Subscription shares represents 1.06% of the enlarged share capital of the Company. The net proceeds will be used to strengthen working capital and support the Company's growth plans.
The Company also announces the resignation of Andrew Male as a Non-Executive director with immediate effect as he steps down to pursue other business interests. The Board would like to take this opportunity to thank Andrew Male for his valuable contribution and wishes him success in his future endeavours.
The Company previously announced on 6 May 2025 that it anticipated publishing its FY24 audited results by 30 May 2025. The Company now expected to announce its FY24 audited results by 30 June 2025 in line with its regulatory requirements.
Total Voting Rights
Application has been made for the admission of the 214,002 Subscription shares to trading on the Aquis Growth Market ("Admission"), which is expected to take place on or around 5 June 2025.
Conditional on Admission of the 214,002 new ordinary shares, the Company's issued ordinary share capital will be 20,214,002 Ordinary Shares. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Peter Lai, CEO and founder of Majestic, commented:
"We are delighted to have raised additional working capital by way of a subscription from new shareholders. On behalf of the Board, I extend our thanks to Andrew Male for his support and wish him all the best with his future ventures."
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