Tekcapital plc
29 September 2026
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 as imported into the laws of England and Wales by virtue of the European Union (Withdrawal) Act 2018 (as amended) and certain other enacting measures ("UK MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.
29 September 2026
Tekcapital plc
("Tekcapital" or the "Company")
Placing of £0.55 million (US$0.73 million)
Tekcapital (AIM: TEK) the UK intellectual property investment group focused on creating valuable products that can improve people's lives, announces that it has raised £550,000 (US$730,000) before expenses, through the issue of, in aggregate, 24,444,444 new ordinary shares of 0.4 pence each in the Company (the "Placing Shares") at a price of 2.25 pence per share (“Placing Price”), (the “Placing”).
The net proceeds of the Placing will strengthen the Company’s balance sheet and support the continued execution of its investment strategy across both existing and new portfolio companies.
Portfolio Update
Guident
We are excited about Guident's continued commercial progress. Their transition from pilot contracts to long-term commercial agreements is well underway, including a recent 3-year contract for robotic monitoring announced in August 2026. We anticipate continued revenue growth across mobility, robotics and public transportation markets inclusive of both US and international deployments. Following their successful fundraising of US$2 million in May 2026, Guident continues to work diligently toward a public listing in the near term. We believe their listing has the potential to further crystallize balance sheet value and broaden participation in its scale-up.
Microsalt
MicroSalt has announced that it has supplied more than 1.5 billionservings of its proprietarylow sodium salt. MicroSalt has also recently announced an oversubscribed raise of $1.7m. MicroSalt's board is optimistic that the third product line from Customer 3, one of the world’s largest snack and beverage companies, will be received during the final quarter of 2026. That product line is expected to significantly increase MicroSalt's monthly revenue and move it toward being cash flow positive. Additionally, MicroSalt's boardremains confident in its growth trajectory and reaffirmed its revenue estimate for FY27 of US$15 million.
Innovative Eyewear
Innovative Eyewear continues with its commercial growth, as evidenced by 12 consecutive year-over-year quarterly sales growth as of 30 June 2026. Following 30 June 2026, Innovative announced (1) expansion into more than 150 stores of one of the largest Big Box retailers in the United States, and (2) apartnership withCanadian optical retailer FYidoctors and Visique clinics for the 2026rollout of Lucyd Armor® smart safety eyewear in 345 FYidoctors and Visique clinics. Initial product placement has already commenced. Additionally, commercial use tests are underway with the following companies: DHL, ExxonMobil, ThermoKing, ABM Inc., and Fastenal.
Vesari
Most importantly, Vesari Inc. has announced that it has engaged ARC Group International Limited (“ARC”) as its capital markets adviser in connection with a contemplated business combination with a to-be-identified special purpose acquisition company (“SPAC”) and a related financing.Vesari’s technology addresses major AI buildout bottlenecks by eliminating transmission constraints, reducing exposure to price volatility, eliminating the burden on public electricity infrastructure and providing 24/7 carbon-free baseload compute. The intellectual property position comprises twelve United States patent applications filed to date, covering a four-layer closed-loop campus architecture spanning subsurface heat extraction, power conversion and thermal management, compute integration, and a low-earth-orbit optical connectivity layer. Vesari’s patent portfolio has been independently valued at $293m as of 30 June 2026.
Vesari plans to bid on and seeks to secure the exclusive lease rights to one or more properties in theGreat Basinfrom theU.S. Bureau of Land Managementto build its first campus.
Admission and Total Voting Rights
Application has been made for the Placing Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective on or around 2 October 2026.
Following the issue of the Placing Shares, which, on Admission, will rank pari passu with the existing Ordinary Shares, the total number of Ordinary Shares in issue with voting rights in the Company will be 281,622,969. There are no shares held in treasury.
The above figure of 281,622,969 Ordinary Shares may therefore be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Clifford M. Gross Ph.D., Executive Chairman of Tekcapital commented:
“We appreciate the continued support of Tekcapital’s shareholders and their participation in this placing. Overall, we believe the next 12 months will be transformative for Tekcapital and likely to produce a corresponding significant increase in shareholder value.”
About Tekcapital
Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
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Tekcapital Plc |
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Via Flagstaff |
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Clifford M. Gross, Ph.D. |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) |
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+44 (0) 20 3470 0470 |
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Matthew Johnson /Charlie Bouverat (Corporate Finance) |
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Richard Parlons (Sales) |
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Flagstaff Strategic and Investor Communications |
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+44 (0) 20 7129 1474 |
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Tim Thompson/Andrea Seymour/Fergus Mellon |
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IMPORTANT INFORMATION
The information contained in this Announcement does not constitute an offering of securities for sale in the United States of America and no securities have been or will be registered under the United States Securities Act 1933, as amended (the "Securities Act") or under the securities laws of any state or other jurisdiction in the United States of America nor will they qualify for distribution under any of the relevant securities laws of Australia, Canada, Japan or the Republic of South Africa, nor has any prospectus in connection with the securities been lodged with or registered by the Australian Securities and Investments Commission. The securities may not be offered or sold in the United States of America. This Announcement is not for distribution directly or indirectly in or into the United States of America, Australia, Canada, Japan or the Republic of South Africa or in any other jurisdiction in which such publication or distribution is unlawful.
This Announcement does not constitute a prospectus or prospectus equivalent document for the purposes of the prospectus rules and has not been, and will not be, approved by, or filed with, the Financial Conduct Authority ("FCA"). It does not constitute or form part of, and should not be construed as, an offer to sell or issue, or a solicitation of any offer of or invitation to buy or subscribe for, any securities, nor shall it (or any part of it), or the fact of its distribution, form the basis of, or be relied on in connection with, or act as an inducement to enter into, any contract or commitment whatsoever. Any failure to comply with these restrictions may constitute a violation of the applicable securities laws in such jurisdiction. This Announcement does not constitute a recommendation regarding any securities.
This Announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's plans and its current goals and expectations relating to its future financial condition and performance and which involve a number of risks and uncertainties. The Company cautions readers that no forward-looking statement is a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as "aim", "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, including, but not limited to, economic and business conditions, the effects of continued volatility in credit markets, market-related risks such as changes in the price of commodities or changes in interest rates and foreign exchange rates, the policies and actions of governmental and regulatory authorities, changes in legislation, the further development of standards and interpretations under International Financial Reporting Standards (IFRS) applicable to past, current and future periods, evolving practices with regard to the interpretation and application of standards under IFRS, the outcome of pending and future litigation or regulatory investigations, the success of future explorations, acquisitions and other strategic transactions and the impact of competition. A number of these factors are beyond the Company's control. As a result, the Company's actual future results may differ materially from the plans, goals, and expectations set forth in the Company's forward-looking statements. Any forward-looking statements made in this Announcement by or on behalf of the Company speak only as of the date they are made. Except as required by the FCA, the London Stock Exchange or applicable law, the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this Announcement to reflect any changes in the Company's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.
This Announcement is for information purposes only and shall not constitute an offer to buy, sell, issue, or subscribe for, or the solicitation of an offer to buy, sell, issue, or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification, or exemption, under the securities laws of any such jurisdiction.
This Announcement has been issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by SP Angel or by any of their affiliates or agents as to, or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.
SP Angel is authorised and regulated by the FCA. SP Angel is acting for the Company and for no-one else in connection with the Placing and will not be responsible to anyone other than the Company for providing the protections afforded to its customers or for providing advice to any other person in relation to the Placing or any other matter referred to herein.
The distribution of this Announcement and the offering of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken by the Company or SP Angel that would permit an offering of such shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Company and SP Angel to inform themselves about, and to observe such restrictions.
Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this Announcement should seek appropriate advice before taking any action.
The Placing Shares to which this Announcement relates may be illiquid and / or subject to restrictions on their resale. Prospective purchasers of the Placing Shares should conduct their own due diligence on the Placing Shares. If you do not understand the contents of this Announcement, you should consult an authorised financial adviser.
Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this Announcement.
All times and dates in this Announcement may be subject to amendment. SP Angel shall notify the placees and any person acting on behalf of the placees of any changes.
Each distributor is responsible for undertaking its own target market assessment in respect of the Placing Shares and determining appropriate distribution channels.
Solely for the purposes of the product governance requirements contained within the following, each as imported into the laws of England and Wales by virtue of the European Union (Withdrawal) Act 2018 (as amended) and certain other enacting measures: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the Product Governance Requirements) may otherwise have with respect thereto, the Placing Shares have been subject to a product approval process, which has determined that the Placing Shares are: (i) compatible with an end target market of (a) retail investors, (b) investors who meet the criteria of professional clients and (c) eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, Distributors should note that: the price of the Placing Shares may decline and investors could lose all or part of their investment; the Placing Shares offer no guaranteed income and no capital protection; and an investment in the Placing Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to an offer of securities such as the Placing Shares.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the Placing Shares.
Each distributor is responsible for undertaking its own target market assessment in respect of the Placing Shares and determining appropriate distribution channels.
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