ONDO INSURTECH PLC — Capital/Financing Update 2021

Jul 14, 2021

National Storage Mechanism | Additional information

RNS Number : 2514F

Spinnaker Acquisitions PLC

14 July 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

This announcement is an advertisement and not a prospectus. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not purchase any transferable securities referred to in this announcement except on the basis of information contained in the prospectus (the "Prospectus") in its final form that is published by Spinnaker Acquisitions plc in connection with the admission of the ordinary share capital of the Company (the "Ordinary Shares") to listing on the standard segment of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the main market for listed securities (the "Main Market") of London Stock Exchange plc (the "London Stock Exchange").

14th July 2021

Spinnaker Acquisitions plc

("Company" or "Spinnaker")

Announcement of the Publication of a Prospectus and Fundraising

Spinnaker Acquisitions plc, a company formed for the purpose of undertaking an acquisition or acquisitions of a majority interest in a company, business or asset, is pleased to announce that the Prospectus dated 14 July 2021 has been approved by the Financial Conduct Authority (the "Prospectus") in connection an application for admission of the enlarged Ordinary Share capital of the Company to the Official List (by way Standard Listing under Chapter 14 of the Listing Rules) of the Financial Conduct Authority and to trading on the London Stock Exchange's Main Market ("Admission"). The Company intends to focus on opportunities in the sustainability and/or energy transition sector(s), but the Company shall not be limited to such sector. 

In connection with Admission, the Company will subject to and conditional upon Admission, issue a total of 20,810,000 ordinary shares having a nominal value of £0.05 each ("Ordinary Shares"), at an issue price of £0.10 per share (the "Fundraising"), pursuant to a subscription and a placing co-ordinated by the Company's brokers, SI Capital Ltd, to raise gross proceeds of £2,081,000. In addition, participants in the Fundraising will be issued with one warrant for every two new Ordinary Shares subscribed for with an exercise price of £0.20. The warrants will have a four-year exercise period from Admission.

The Prospectus has been submitted to the National Storage Mechanism and will be available shortly for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. A copy of the prospectus can also be located on the Company's website at the following address: www.spaq.co.uk/documents.html.

The Company expects that Admission and commencement of dealings in the Company's Ordinary Shares will occur at 8.00 a.m. (UK time) on 28 July 2021 under TIDM SPAQ. The Company ISIN will be GB00BNVVGD77 and SEDOL BNVVGD7. 

Enquiries

Spinnaker Acquisitions plc	Andrew Morrison Non-Executive Chairman	+44 7980 878561
SI Capital Ltd (Company Broker)	Nick Emerson Jon Levinson	+44 (0) 1483 413 500 +44 (0) 20 3143 0600
Cassiopeia Services Ltd (PR & Investor Relations)	Stefania Barbaglio	+44 7949690338

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