Plexus Holdings PLC, an Aberdeen-based wellhead services firm, has announced a comprehensive fundraising initiative aimed at raising £3.5 million through a combination of a placing, subscription, and retail offer. The company, which specialises in developing and providing wellhead systems for offshore operations, is issuing new ordinary shares at a price of 6.5 pence each, representing a slight discount of approximately 3% from the preceding closing share price.
The retail component of the offer is designed to raise up to £500,000 and allows retail investors in the UK to participate alongside institutional backers. This move reflects the company’s appreciation for its retail shareholder base and provides them with an opportunity to support the company’s growth strategy.
The fundraising effort is contingent upon shareholder approval at a general meeting scheduled for April 7, 2025. Following approval, the new shares are expected to be admitted to trading on the AIM market of the London Stock Exchange on April 8, 2025.
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Headquartered in Aberdeen, Plexus focuses on providing wellheads for jack-up rig operations such as exploration and appraisal drilling, plug and abandonment work and emerging markets for carbon capture and storage, hydrogen production and geothermal.
Plexus is known for its innovative POS-GRIP® wellhead technology and HG® metal-to-metal sealing systems, which have been licensed to major industry players like SLB and TechnipFMC. The company’s focus on reducing risk and improving performance in the energy sector aligns with the industry’s ESG and NetZero goals.
Cavendish Capital Markets Limited is coordinating the retail offer, and interested retail investors can participate through designated financial intermediaries.
