#VELA investee co. #ENSI EnSilica PLC – Result of WRAP Retail Offer & Notice of GM May 30, 2024 – Posted in: Vela Technologies Plc (VELA) – Tags: application, chip maker, circuits, company, demand, directors, integrated, issue price, oversubscribed, retail, shareholders, signals, subscription

On 24 May 2024 EnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), announced that it has conditionally raised approximately £4.9 million pursuant to a Placing and Subscription and separately launched the WRAP Retail Offer to existing shareholders of the Company.

The WRAP Retail Offer closed at 4.00 p.m. yesterday, 29 May 2024, and the Directors are pleased to announce that it was oversubscribed and demand has therefore been scaled back to within the previously set maximum of £0.3 million. Therefore, after pro rata scaleback to all applications and roundings, and subject to the passing of certain Resolutions at the forthcoming General Meeting (as detailed below), the WRAP Retail Offer will result in the issue of a total of 666,589 WRAP Retail Offer Shares at the Issue Price, conditionally raising gross proceeds of approximately £0.3 million. As a result, the Company has conditionally raised a total of approximately £5.2 million pursuant to the Placing, Subscription and the WRAP Retail Offer (together, the “Fundraise”).

Notice of General Meeting and posting of Circular

The first tranche of the Fundraise, with gross proceeds of approximately £3.8 million, completed on 28 May 2024. Completion of the WRAP Retail Offer and the Second Placing are subject to, inter alia, the passing of certain Resolutions at a General Meeting of the Company on 17 June 2024 to enable the allotment of new Ordinary Shares pursuant to the Second Placing and the WRAP Retail Offer.

The Company will today post a Circular to Shareholders containing details of the Fundraise and the notice of General Meeting to be held on 17 June 2024. A copy of the Circular will be available on the Company’s website later today at www.ensilica.com.

Admission to AIM

Application has been made to the London Stock Exchange plc for the 3,131,708 new Ordinary Shares to be issued pursuant to the Second Placing and the WRAP Retail Offer to be admitted to trading on AIM and, subject to the passing of the Resolutions, it is expected that such Admission will become effective and dealings in such new Ordinary Shares will commence on AIM at 8.00 a.m. on 19 June 2024.

This announcement is made in accordance with the Company’s obligations under Article 17 of UK MAR and the person responsible for arranging for the release of this announcement on behalf of EnSilica is Ian Lankshear, Chief Executive Officer.

Terms used but not defined in this announcement have the same meaning as set out in the Company’s announcement released at 4.47pm on 23 May 2024.

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About EnSilica

EnSilica is a leading fabless design house focused on custom ASIC design and supply for OEMs and system houses, as well as IC design services for companies with their own design teams. The company has world-class expertise in supplying custom RF, mmWave, mixed signal and digital ICs to its international customers in the automotive, industrial, healthcare and communications markets. The company also offers a broad portfolio of core IP covering cryptography, radar, and communications systems. EnSilica has a track record in delivering high quality solutions to demanding industry standards. The company is headquartered near Oxford, UK and has design centres across the UK and in India and Brazil.

This announcement should be read in its entirety. In particular, the information in the “Important Notices” section of the announcement should be read and understood.