25 March 2021
Ritorno plc is pleased to announce that the Company has raised £162,500 through a placing to a new investor of 36,111,112 new ordinary shares (the “Placing Shares”) at a price of 0.45 pence per Placing Share (the “Placing Price”) (the “Placing”).
The placing price of 0.45 pence per represents a premium of 80% to the prevailing middle market price of the shares on JP Jenkins at the close of business on 18 January 2021.
The funds raised pursuant to the Placing will be used for general working capital and further investment into Low6 Group Limited.
The Placing Shares, which will be issued credited as fully paid and which will rank pari passu in all respects with the existing Ordinary Shares, represent approximately 1.4% of the Company’s enlarged issued share capital.
As a result of the Placing the enlarged number of shares in issue will be 2,587,178,024. The Board intends to recommend a share consolidation in Q1 2021 on the basis of one share for every 100 shares in issue.
The Directors of the Company accept responsibility for the contents of this announcement.