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Gelion PLC - London-based battery energy storage systems firm - Raises £10.0 million aggregate, before expenses, through issuing 50.0 million new shares at 20.0 pence each for a placing and subscription. Placing has raised £7.6 million gross with 38.0 million shares issued, and subscription has raised £2.4 million with the remaining 12.0 million shares. The retail offer announced on Thursday, to raise up to £500,000 with up to 2.5 million shares issued at 20.0p each, is ongoing. Gelion expects to close the retail offer on Thursday, October 23, before announcing the results on or around the following day. Says the placing, subscription and retail offer are conditional upon shareholders approving the relevant resolutions at the company’s general meeting on November 5. Expects the new shares to be admitted to trading on AIM on or around November 7, and no later than November 17. Current stock price: 22.80p, down 6.9% on Friday in London 12-month change: up 6.1% Copyright 2025 Alliance News Ltd. All Rights Reserved.
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