Kromek : Fundraising completed through convertible bond issue – Marketscreener.com | Region & Cash

August 05, 2022

Kromek Group plc

(“Kromek” or the “Company” or the “Group”)

Fundraising of £1.7m

Kromek Group plc, a leading developer of radiation and biodetection technology solutions for the Advanced Imaging and CBRN Detection segments, is pleased to announce that it has raised £1.7 million (the “Fundraising”) through the issuance of a convertible debentures (“Debentures”) to existing and new investors in the Company. Proceeds from the fundraising will be used to provide additional working capital to minimize potential supply chain disruptions in the delivery of contracts throughout the year.

The promissory notes have a term of 18 months (with the Company having the option to extend the majority of the promissory notes by three months), are senior and unsecured. The Loan Notes are convertible, at the option of investors, into common shares in the Company (“Common Shares”) at 15p per Common Share, representing a premium of 30% over the mid-point of the Company’s share price as at close of business 04 August 2022. The Notes are issued with a coupon of 8% per annum and have a conversion date of January 31, 2024.

Loan bondholders have the right to elect to be redeemed in whole or in part in common shares at the lower of the median closing price on the redemption date and 15p per share.

Based on a fundraising of £1.7 million, if converted at 15 pence per share, the Notes would represent approximately 11.3 million common shares, representing 2.6% of the Company’s currently issued share capital.

About Kromek Group plc

Kromek Group plc is a leading developer of radiation detection and biodetection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing facilities in the UK and US and realizes the vision of improving the quality of life through innovative detection technology solutions.

The Advanced Imaging segment includes the medical (including CT and SPECT), security and industrial markets. Kromek supplies its OEM customers with detector components based on its core

Cadmium Zinc Telluride (CZT) platform to enable better detection of diseases such as cancer and Alzheimer’s, contamination in industrial manufacturing and explosives in aviation.

In the area of ​​CBRN detection, the group provides nuclear radiation detection solutions for the global home defense and security market. Kromek’s compact, portable, high-performance radiation detectors, based on advanced scintillation technology, are primarily used to protect critical infrastructure and urban environments from the “dirty bomb” threat.

The group also develops biosecurity solutions in the CBRN detection segment. These consist of fully automated and autonomous systems for the detection of a variety of airborne pathogens.

Kromek is listed on the AIM, a market of the London Stock Exchange under the trading symbol ‘KMK’.

For more information, see www.kromek.com.

The information communicated in this announcement contains insider information within the meaning of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.