Built Cybernetics PLC
08 October 2026
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 (AS AMENDED) (WHICH FORMS PART OF DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (AS AMENDED)). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
8 October 2026
BUILT CYBERNETICS PLC
(“Built Cybernetics”, the “Company” or, together with its subsidiaries, the “Group”)
Result of Placing and Subscription
Built Cybernetics plc (AIM: BUC), the AIM-quoted Smart Buildings and PropTech group, is pleased to announce that, further to the Company’s announcement at 7.30 a.m. on 8 October 2026 (the “Launch Announcement”), it has conditionally raised gross proceeds of £2.9 million through the Placing and Subscription.
The Company has conditionally raised £2.3 million pursuant to the Placing of 155,296,526 Placing Shares, approximately £0.1 million pursuant to the Subscription of 7,253,333 Subscription Shares and £0.5 million pursuant to the CLAs, in each case at the Placing Price of 1.5 pence per new Ordinary Share.
Nick Clark and Freddie Jenner (and certain of their associated parties), who are directors of Built Cybernetics, participated in the Placing for a total of £76,000 and £39,000, respectively. Clive Carver, Chairman, and Nick Clark (and certain of their associated parties) participated in the subscription for £10,000 and £40,000, respectively.
In addition, the Company has today announced the launch of the Retail Offer to raise up to approximately £150,000 through the issue of up to 10,000,000 Retail Offer Shares at the Placing Price. As detailed in the Launch Announcement, the Company has received and provided clearance to deal for orders from its employees totalling £79,632, with a further £21,000 proposed to be invested by existing shareholders.
The New Ordinary Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the new Ordinary Shares.
Canaccord Genuity Limited ("Canaccord Genuity") and Allenby Capital Limited (“Allenby”) acted as joint bookrunners (the "Bookrunners") to the Company in connection with the Placing.
The Acquisition and Fundraising are conditional and subject, among other matters, to shareholders of the Company (“Shareholders”) passing the resolutions required to implement the Acquisition and Fundraising (the “Resolutions”) at a general meeting of the Company which is expected to be held at noon on 2 November 2026 at the offices of the Company, 10 Bonhill Street, London EC2A 4PE (the “General Meeting”), and to the admission of the New Ordinary Shares to trading on AIM (“Admission”). The Retail Offer will also be conditional upon, among other matters, the passing of the Resolutions and Admission.
Unless otherwise defined herein, capitalised terms used in this announcement have the meanings given to them in the Launch Announcement.
Capital Access Window
As detailed in the Launch Announcement, the Company entered a Capital Access Window at 7.30 a.m. BST on 28 September 2026, in order to reach a broader range of investors during the Fundraising. It is intended that the Capital Access Window will remain open until after the Retail Offer has closed (expected at 4.30 p.m. on 12 October 2026), with normal trading in the Company's existing Ordinary Shares expected to resume at 8.00 a.m. on 13 October 2026.
For Further Information:
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Investor Enquiries |
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We encourage all investors to share questions on this announcement via our investor hub |
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Built Cybernetics plc |
+44 (0)20 7843 3001 |
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Clive Carver, Chairman |
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Nick Clark, Chief Executive |
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Canaccord Genuity Limited, Nominated Adviser and Broker |
+44 (0)20 7523 8000 |
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Stuart Andrews |
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Elizabeth Halley-Stott |
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Allenby Capital Limited, Joint Broker |
+44 (0)20 3002 2073 |
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Nick Naylor, Alex Brearley (Corporate Finance) |
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Jos Pinnington, Lauren Wright (Sales and Corporate Broking) |
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Additional Information
General Meeting
Completion and the Placing and the Subscription are conditional upon each other and, among other matters, the approval by Shareholders of the Resolutions at the General Meeting. The General Meeting is expected to be held at noon on 2 November 2026 at the offices of the Company, 10 Bonhill Street, London EC2A 4PE.
Application for Admission
Application will be made to the London Stock Exchange for the New Ordinary Shares, comprising the Consideration Shares, the Note Satisfaction Shares, the Loan Assignment Shares, the Placing Shares, the Subscription Shares, the CLA Shares and the Retail Offer Shares to be admitted to trading on AIM.
It is expected that Admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 4 November 2026, conditional upon, among other things, the passing of the Resolutions, Completion and satisfaction of the conditions of the Placing.
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EXPECTED TIMETABLE OF PRINCIPAL EVENTS |
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Event |
Expected time and/or date |
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Announcement of the Retail Offer |
8 October 2026 |
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Announcement of the result of the Retail Offer |
12 October 2026 |
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Resumption of trading in the Company’s Ordinary Shares |
13 October 2026 |
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Publication and posting of the Circular and Form of Proxy |
13 October 2026 |
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Latest time and date for receipt of Forms of Proxy for the General Meeting |
Noon on 29 October 2026 |
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General Meeting |
Noon on 2 November 2026 |
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Completion of the Acquisition |
3 November 2026 |
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Admission and commencement of dealings in the Consideration Shares, Note Satisfaction Shares, Loan Assignment Shares, Placing Shares, Subscription Shares and the Retail Offer Shares on AIM |
8.00 a.m. on 4 November 2026 |
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Longstop Date |
20 November 2026 |
Notes to the expected timetable
The times and dates set out above are based on the Company’s current expectations and are subject to change. If any of the above times and/or dates change, the revised times and/or dates will be notified by the Company through a regulatory information service.
The timetable assumes that there is no adjournment of the General Meeting. If the General Meeting is adjourned, the revised time and/or date will be announced through a regulatory information service and otherwise notified to Shareholders as required by applicable law and the Company’s articles of association.
All times shown are London times unless otherwise stated.
Admission of the Consideration Shares, the Note Satisfaction Shares, the Loan Assignment Shares, the Placing Shares, the Subscription Shares and the Retail Offer Shares to AIM is conditional on, among other matters, the passing of the Resolutions at the General Meeting, Completion and satisfaction of the conditions of the Placing.
Publication of the Circular
The Circular, containing further details of the Acquisition, the Note Satisfaction, the Loan Assignment, the Placing, the Subscription, the Retail Offer and the Notice of General Meeting, is expected to be published and posted to Shareholders on or around 13 October 2026.
Following publication, the Circular will be available for inspection during normal business hours on any business day at the Company’s registered office and will be available to download from the Company’s website at www.builtcybernetics.com up to and including the date of the General Meeting.
The Circular will not constitute an admission document for the purposes of the AIM Rules and will not constitute an admission prospectus for the purposes of the Public Offers and Admissions to Trading Regulations 2024. The New Ordinary Shares and the CLA Shares are not currently admitted to trading on AIM. They will, when allotted and issued, be Ordinary Shares of the same class as the existing Ordinary Shares already admitted to trading on AIM. As the Acquisition does not constitute a reverse takeover under AIM Rule 14, no further admission document is required under AIM Rule 27. Accordingly, the Circular will not be approved by the Financial Conduct Authority or the London Stock Exchange.
The Circular will not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to acquire, purchase or subscribe for, any securities in any jurisdiction. The Placing is being made only pursuant to separate placing documentation and only to persons to whom it may lawfully be made.
Capitalised terms used but not defined in this announcement have the meanings given to them in the Circular.
Market Abuse Regulation disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulation (EU) No. 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended. Upon publication of this announcement via a regulatory information service, this inside information is now considered to be in the public domain.
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