NEX Exchange (NEXX)
NEX Exchange: Application for Admission - SulNOx Group Plc
05-Dec-2019 / 07:30 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
ANNOUNCEMENT OF APPLICATION FOR ADMISSION TO THE NEX EXCHANGE
GROWTH MARKET
APPLICANT NAME:
SulNOx Group Plc
APPLICANT REGISTERED OFFICE, PRINCIPLE PLACE OF BUSINESS (IF
DIFFERENT) AND TELEPHONE:
10 Orange Street, Haymarket, London, WC2H 7DQ, United Kingdom
Tel: +44 203 291 3638
DIRECTORS AND PROPOSED DIRECTORS (IF APPLICABLE):
Graham Victor Lyon, (Age 61, Chairman)
Graham is a senior energy, oil and gas executive with over 30
years' experience encompassing global technical, operational and
commercial leadership roles. He is currently a Director of
Soncer Limited, a private Oil and Gas leadership consulting
firm, undertaking board and executive positions for private and
listed companies. He has led and advised on major M&A
transactions and the financing and restructuring of companies
and projects throughout the world. Graham is Executive Chairman
at Comet Energy, a private Canadian oil and gas company and is
Non-Executive Chairman of Pearland Energy, a Nigerian oil and
gas company. Graham also Chairs the Technical Advisory Committee
and is a Board Advisor to Sirius Petroleum plc. Graham has
recently held a number of board level positions at private and
listed companies including; Non-Executive Director at Tarbagatay
Munay LLP, a private Kazakhstani oil and gas company, Hawkley
Oil & Gas Limited, Range Resources and MENA Hydrocarbons as CEO.
Before establishing Soncer, Graham was Vice President of
Petro-Canada where he led business development for its
international business unit, which was formerly the
international company Veba Oil and Gas GmbH. In his earlier
career he worked for Shell and Chevron. He holds a degree in
Petroleum Engineering from Imperial College London
Nicholas Christian Paul Nelson, (Age 54, Chief Executive)
Nicholas commenced his career from school as a securities dealer
on the floor of the London Stock Exchange in 1985. This
developed into a 13-year career in investment management. In
1998 he moved into the Financial PR industry and over 14 years,
handled the corporate communications matters to smaller quoted
companies operating in multiple sectors. During this period
Nicholas handled the financial PR aspects of some 150 AIM and
NEX IPOs. He has held directorships with six AIM-quoted
companies and two NEX Exchange company. Nicholas has
considerable hands on experience of all day to day matters
relating to shareholder reporting and PLC management.
Simon James Retter, (ICAEW ACA) (Age 37, Finance Director)
Initially trained with Deloitte and Touche before moving to an
in-house role. Entrepreneurial and commercial CFO & NED with
experience in setting up and managing numerous companies, both
listed and private, across a broad range of industries.
Extensive experience in public markets, specifically reverse
takeovers, IPOs and secondary fundraising combined with high
pressure and dynamic environments encountered in the start-up
and growth phase of business.
Ingeborg Majken Korsgård Petersen, (Age 49, Non-Executive
Director)
Majken is a partner at Danders & More, an international law firm
based in Copenhagen where she advises companies, organisations
and financial institutions. She has extensive experience in
international/cross-border transactions, particularly with focus
on corporate and commercial relations. Furthermore, she sits on
the boards of several growth companies. Majken advises on
general corporate matters and in addition, specialises in IT, IP
and employment law. Her early experience was founded through her
work in the legal department of the Danish Ministry of Foreign
Affairs and the Ministry of Defence and subsequently with the
large law firm Dentons in London. She has an LL.M. from King's
College, London specialised in finance law and has also
qualified as solicitor in England and Wales.
Stephen James Bamford, (Age 69, Non-Executive Director)
Stephen started his fund management career at Kleinwort Benson
in 1970 followed by 5 years at Arbuthnot Latham, 10 years at
County Bank and 4 years at Aetna Life and Casualty. In 1990 he
founded an International Investment business for MetLife of
America. In 1996 he changed careers into small company
management and the raising of private equity for companies.
These included Fitness First where, as a Non-Executive Director,
he helped guide the company onto AIM leading to an eventual
valuation of over GBP800m. He joined Kiotech International as a
director to oversee its rescue and turnaround. Now renamed as
Anpario Plc, is now a thriving AIM company.
APPLICANT SECTOR:
Chemicals
DESCRIPTION OF THE APPLICANT AND ITS ACTIVITIES:
Company Information
SulNOx was established in 2013 through the issue of shares to
the founders to develop and commit to trial a new type of fuel
emulsifier technology. The technology is owned by SulNOx and it
is advancing a Patent application.
The Group has developed a methodology and process capable of
emulsifying hydrocarbon fuels such as diesel and heavy fuel oil
("HFO"). The resultant emulsions have long term stability. When
added to the fuel, the Company's products are capable of:
· reducing Nitrous Oxide, Cardon Dioxide and Sulphur Oxide
Gases
· removing free water from fuel and eradicating fungal and
bacterial growth
· more efficient combustion and therefore reduced fuel usage
· reducing Particulate Matter (Smoke & Soot)
· reducing viscosity of heavy fuel oil (HFO)
The Group's chemical formulations have been tested independently
and have been shown to deliver the above benefits.
The Group operates through two wholly owned subsidiaries, SulNOx
Research and Development Limited ("SRD") and SulNOx Fuel Fusions
Limited ("SFF").
The emulsifier is added to fuel with additional water and
without engine modification. This is shown to improve the fuel
burn and therefore, combustion efficiency. Following a period of
research and development, leading to a second product, a small
amount of the modified formulation can be added directly to
diesel (without mixing with water) to emulsify the existing
'free' water which can exist in stored diesel as a result of
condensation and contamination.
By January 2014, following preliminary laboratory testing,
SulNOx was in a position to suggest that its products resulted
in up to a 50% reduction of Nitrogen Oxide (NOx) and a 90%
reduction in particulate matter (exhaust soot/smoke)
Subsequently, SulNOx raised further funds to continue product
development and testing. The Group engaged Ricardo Engineering,
a global engineering company with a specialisation in engine and
fuel testing, to review the product.
The result was the further development of the chemical
technology and a better understanding of optimal application. By
2015, a major technological advancement was made through the
reduction of the size of the fuel particles to between 1 and 16
nanometres with complete stability.
NAME OF NEX EXCHANGE CORPORATE ADVISER:
Alexander David Securities Limited
NUMBER, CLASS AND PAR VALUE OF SECURITIES TO BE ADMITTED:
The Directors of SulNox Group Plc has applied to list its
Ordinary Shares to the NEX Exchange Growth Market under NEX
Exchange symbol SNOX and ISIN GB00BJVQQP66. On Admission the
Company will have approximate 84,785,094 Ordinary Shares of
GBP0.02 par value.
SECURITIES IN PUBLIC HANDS AS A PERCENTAGE OF THE TOTAL NUMBER
OF SECURITIES IN ISSUE (excluding securities held in treasury):
29.3%
SHAREHOLDERS HOLDING MORE THAN FIVE PER CENT OF THE APPLICANT'S
SHARE CAPITAL OR VOTING RIGHTS PRE- AND POST-ADMISSION:
Name Number of Percentage of
issued Ordinary Entire Issued Share
Shares Capital at
Admission
Nistad Gruppen 12,500,000 14.7%
AS
James Redman Jnr 7,500,000 8.8%
Richard Leggatt 7,170,000 8.4%
Rodney Weinberg 6,597,661 7.8%
Gary Bostock 5,054,058 5.9%
TIMETABLE FOR ANY OFFER OF TRANSFERRABLE SECURITIES TO THE
PUBLIC:
The expected date of Admission is 17 December 2019. On
Admission, the Company will have an approximate market
capitalisation of GBP42.3 million at GBP0.50 per share.
THE EXPECTED ADMISSION DATE:
17 December 2019
WEBSITE ADDRESS WHERE INVESTOR INFORMATION WILL BE AVAILABLE FOR
INSPECTION:
https://sulnoxgroup.com [1]
In respect of a fast-track applicant, the following information
should also be included:
NAME OF MARKET ON WHICH THE APPLICANT'S SECURITIES ARE CURRENTLY
TRADED:
ARRANGEMENTS FOR THE SETTLEMENT OF TRANSACTIONS IN THE
APPLICANT'S SECURITIES:
DETAILS OF ANY LOCK-IN ARRANGEMENTS:
DETAILS OF THE LEGAL OR REGULATORY REQUIREMENTS IN THE
APPLICANT'S HOME COUNTRY REGARDING THE CONDUCT OF TAKEOVERS AND
THE ACQUISITION OF SIGNIFICANT VOTING RIGHTS TO WHICH THE
APPLICANT IS SUBJECT:
In respect of an update to a prior application announcement, the
date of the original announcement should also be disclosed as
follows:
UPDATE TO A PRIOR APPLICATION ANNOUNCEMENT RELEASED ON:
Category Code: MSCL
TIDM: NEXX
LEI Code: 213800AMGNBSOCOSDN11
Sequence No.: 33425
EQS News ID: 928645
End of Announcement EQS News Service
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(END) Dow Jones Newswires
December 05, 2019 02:30 ET (07:30 GMT)
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