ZAIM CREDIT SYSTEMS PLC

Share Issue/Capital Change • Nov 14, 2023

National Storage Mechanism | Additional information

RNS Number : 3828T

Adalan Ventures PLC

14 November 2023

Not for release or distribution, directly or indirectly, within, into or in the United States or to or for the account or benefit of persons in the United States, Australia, Canada, Japan or any other jurisdiction where such offer or sale would violate the relevant securities laws of such jurisdiction.

For Immediate Release

14 November 2023

Adalan Ventures Plc

("Adalan" or the "Company")

Issue of Equity

Adalan Ventures plc (the 'Company' or 'Adalan'), announces it has completed (subject to certain conditions) a fundraise of £206,000 (gross) (the "Fundraise"). The equity issues is being undertaken through the issue of 5,150,000 ordinary shares (the "Fundraise Shares") at a price of 4 pence per ordinary share ("Issue Price") representing a discount of approximately 11% to the closing mid price of the ordinary shares on 10 November 2023 (being the trading prior to the closing of this transaction).

The Fundraise has been undertaken by way of a placing of and subscription for new ordinary shares ("Placing") of £0.01 par value ("Ordinary Shares") in the share capital of the Company. The Fundraise is to provide working capital.

The Fundraise has been undertaken by means of the Placing arranged by Optiva pursuant to which, the Company will issue 2,500,000 ordinary shares at a price at the Issue Price, and a direct subscription for 2,650,000.

Following Admission of the Fundraising Shares, which is expected to occur at 8.00 am on the 16th November 2023, the total number of Ordinary Shares in the Company will be 51,347,500. This figure may be used by shareholders 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 Company under the FCA's Disclosure and Transparency Rules.

Further information can be found at the corporate website:  https://adalanventures.com/

Enquiries:

Adalan Ventures Plc
Siro Cicconi	Tel: +44 (0) 73 9377 9849
Optiva Securities Limited
Vishal Balasingham	Tel: +44 (0) 20 3137 1902

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

IOEFIFSTLDLSLIV