Cadence Minerals plc (AIM: KDNC) announces a retail offer via the Winterflood Retail Access Platform (“WRAP”) to raise up to £450,000 (the “Retail Offer”) through the issue of new ordinary shares of £0.01 each in the capital of the Company (“Ordinary Shares”). Under the Retail Offer up to 10,000,000 new Ordinary Shares (the “Retail Offer Shares”) will be made available at a price of £0.045 per share (the “Issue Price”).
In addition to the WRAP Retail Offer and as announced 18 September 2026 at 7:00 am, the Company has completed a Placing and Subscription of new Ordinary Shares (the “Fundraise”) to raise £1.80 million (before expenses), and assuming the Retail Offer Shares are fully subscribed together the Company will have raised £2.25 million (before expenses) at a price of £0.045 per ordinary share (the “Placing Price”). The Placing Price represents a discount of approximately 10 per cent. to the mid-market closing price of an Ordinary Share on 17 September 2026 (being the latest practicable date prior to this announcement). The Issue Price of the Retail Offer Shares is equal to the Placing Price.
A separate announcement has been made regarding the Fundraise and its terms and sets out the reasons for the Fundraise and use of proceeds. The proceeds of the Retail Offer will be utilised in the same way as the proceeds of the Fundraise.
For the avoidance of doubt, the Retail Offer is not part of the Fundraise. The Fundraise is not conditional on the completion of the WRAP Retail Offer.
The Retail Offer is conditional on the New Ordinary Shares being admitted to trading on AIM (“Admission”). It is anticipated that Admission will become effective and that dealings in the New Ordinary Shares will commence at 08.00 a.m. on 1 October 2026.
Expected Timetable in relation to the Retail Offer
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Retail Offer opens |
18 September 2026 |
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Latest time and date for commitments under the Retail Offer (Please note that intermediaries’ closing times may differ) |
17:00 – 23 September 2026 |
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Results of the Retail Offer announced |
24 September 2026 |
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Admission and commencement of dealings in Retail Offer Shares issued on the London Stock Exchange |
1 October 2026 |
WRAP Retail Offer
The Company values its retail shareholder base and believes that it is appropriate to provide its existing retail shareholders in the United Kingdom the opportunity to participate in the WRAP Retail Offer.
Therefore, the Company is making the Retail Offer available to eligible investors in the United Kingdom following release of this announcement through certain financial intermediaries, being existing shareholders of Cadence Minerals.
Existing shareholders can contact their broker or wealth manager to participate in the Retail Offer.
Retail brokers wishing to participate in the Retail Offer on behalf of eligible retail investors, should contact WRAP@marex.com.
The Retail Offer is expected to close at 5:00 p.m. on Wednesday 23 September 2026. Eligible retail investors should note that financial intermediaries may have earlier closing times. The result of the Retail Offer is expected to be announced by the Company on or around Thursday 24 September 2026.
To be eligible to participate in the Retail Offer, applicants must be a customer of a participating intermediary and, prior to the release of this announcement, shareholders in the Company which may include individuals aged 18 years or over, companies and other bodies corporate, partnerships, trusts, associations and other unincorporated organisations.
There is a minimum subscription of £100 per investor under the Retail Offer. The terms and conditions on which investors subscribe will be provided by the relevant financial intermediaries including relevant commission or fee charges.
The Company reserves the right to amend the size and timings of the retail offer at its discretion. The Company reserves the right to scale back any order and to reject any application for subscription under the Retail Offer without giving any reason for such rejection.
It is vital to note that once an application for Retail Offer Shares has been made and accepted via an intermediary, it cannot be withdrawn.
The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with existing Ordinary Shares including the right to receive all dividends and other distributions declared, made or paid after their date of issue.
Investors should make their own investigations into the merits of an investment in the Company. Nothing in this announcement amounts to a recommendation to invest in the Company or amounts to investment, taxation or legal advice.
It should be noted that a subscription for Ordinary Shares and investment in the Company carries a number of risks, including the risk that investors may lose their entire investment. Investors should take independent advice from a person experienced in advising on investment in securities such as the Ordinary Shares if they are in any doubt.
An investment in the Company will place capital at risk. The value of investments, and any income, can go down as well as up, so investors could get back less than the amount invested.
Neither past performance nor any forecasts should be considered a reliable indicator of future results.
The Retail Offer is offered in the United Kingdom under the exemption from the requirement to publish a prospectus pursuant to Schedule 1 (Part 1) of The Public Offers and Admission to Trading Regulations 2024 and the Prospectus Rules of the FCA. As such, there is no need for publication of a prospectus pursuant to the Public Offers and Admissions to Trading Regulations 2024, or for approval of the same by the Financial Conduct Authority. The Retail Offer is not being made into any jurisdiction other than the United Kingdom.
No offering document, prospectus or admission document has been or will be prepared or submitted to be approved by the Financial Conduct Authority (or any other authority) in relation to the WRAP Retail Offer, and investors’ commitments will be made solely on the basis of the information contained in this announcement and information that has been published by or on behalf of the Company prior to the date of this announcement by notification to a Regulatory Information Service in accordance with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, the UK Market Abuse Regulation (EU Regulation No. 596/2014) as it forms part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018 (as amended)) (“UK MAR“).
For further Information:
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Cadence Minerals plc Andrew Suckling Kiran Morzaria
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www.cadenceminerals.com |
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Winterflood Retail Access Platform Kaitlan Billings |
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Sophia Bechev |
