FINPROM Findings

1
low2025-11-12RNS 2452H
dilution_red_flags
Placing Price represents a discount of approximately 5 per cent... general working capital purposes... warrants to Zeus at Admission to subscribe for such number of new Ordinary Shares as is equal to 5% of the Placing Shares

Small raise (£0.5m) at modest 5% discount with 3% dilution is proportionate. However, the broker warrant at 5% of placing shares adds a layer of hidden dilution that should be noted.

RNS Announcements

2
2025-11-122452H

Proposed Placing to raise approximately £0.5m

THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO . 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED . UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN . THIS ANNOUNCEMENT, INCLUDING THE APPENDICES TO THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PA…

2025-11-122950H

Result of Placing

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL. THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL, INCLUDING THE UNITED STATES, CANADA, AUSTRAL…

LinkedIn Activity

12
First Class Metals PLC

Announces revised CLN terms and WRAP retail offer at 1.52p/share for up to £250,000. Contains: 'Reinforcing shareholder alignment, with existing investors offered participation on the same terms via a Winterflood WRAP offer'. Uses positive emojis (✅📈➡️). Links to RNS.

Risk warnings: No6 reactions
BookBuildcompany_page2026-02-10

More Exciting News! BookBuild is thrilled to announce the successful conclusion of the latest Retail Offer for Proteome Sciences plc which was significantly oversubscribed. Thanks to SP Angel.

Risk warnings: No7 reactions

BookBuild's own company page uses promotional language ('Exciting News!', 'thrilled', 'significantly oversubscribed') without any risk disclaimers. Contrast with RetailBook's posts which include risk warnings.

RetailBookcompany_page2026-03-10

Completed another successful Retail Offer supporting FTSE 250 Sirius Real Estate. Raised £77m. Congratulations to the team.

Risk warnings: Yes31 reactions

RetailBook includes risk disclaimer in company posts — better than BookBuild's practice

Osborne Clarke - UKcompany_page2025-08-10

Advised Mulberry Group on £21.2m fundraising and retail offer via RetailBook platform. Net proceeds to make targeted investments to accelerate future growth and meet medium term financial targets.

Risk warnings: No67 reactions

Law firm describes purpose as 'accelerate future growth' while the actual RNS disclosed material uncertainty on going concern and £49.7m operating loss. Significant disconnect between LinkedIn framing and regulatory disclosure.

David Thomaspersonal2025-08-10

Major milestone for institutional crypto in the UK. Satsuma Technology closed £100m+ fundraise. Lists Cel AI (#CLAI) among wave of London-listed firms embedding Bitcoin into corporate treasury strategy alongside SWC, V3TC, BTC (Vinanz).

Risk warnings: No3 reactions

Bitcoin treasury cluster being actively promoted on LinkedIn — same issuers appearing across WRAP (SWC, Vinanz) and BookBuild (Cel AI, Active Energy)

Scotch Corner Designer Villagecompany_page2023-04-24

Construction is making excellent progress. On track to be the number 1 destination for a first class retail and leisure experience in the whole of the North of England. 4 million visits in year 1.

Risk warnings: No169 reactions

Earlier promotional post from company page. High engagement (169 reactions). No IPO-specific LinkedIn posts found from Mar-Apr 2026 promoting the RetailBook offer, though the project uses 'private equity returns' language in press coverage. Simon Waterfield (CEO) has LinkedIn profile but no indexed posts about the IPO found.

Blackbird plc (company page) / Tim Chaffeecompany / employee2023-2024

Blackbird plc's LinkedIn page mentioned a completed successful and fully subscribed top-up fundraising for elevate.io, their creator SaaS product. The company page describes Blackbird as 'the world's fastest, most powerful professional cloud video editing and publishing platform'. No posts specifically using the 'Figma for video' claim or discussing the BookBuild placing mechanics were found on LinkedIn.

Risk warnings: Yes

Company LinkedIn page: linkedin.com/company/blackbird-cloud. Employee Tim Chaffee referenced fundraising for elevate.io product. The 'Figma for video' positioning was not found in LinkedIn posts specifically.

Jemil VisramLegal adviser (DWF)2023-03-24

DWF advised Zinnwald Lithium on £18.75m equity fundraise closed at a premium to share price. Cornerstone investment from AMG Advanced Metallurgical Group. Launched and closed in under 16 hours. Worked with Nomad Allenby Capital and co-brokers Tamesis Partners and Oberon Capital.

Risk warnings: Yes40 reactions

Post from legal adviser celebrating deal completion. Mentions AMG cornerstone but no mention of 29.57% concentration risk. No disclaimers.

MicroSalt Inc. (company page)issuer2024-02-01

MicroSalt celebrated First Day of Dealings on LSE under ticker SALT. Referenced WHO ambitions for 30% sodium reduction by 2025. Positioned product as meeting growing demand for lower sodium products.

Risk warnings: Yes28 reactions

IPO announcement post. No financial details disclosed (no mention of £18.5m valuation or £3m raised). Forward-looking health claims without disclaimers. No 'disruptive category-defining' language in this specific post.

Anthony Chowfinance_commentator2025-09-25

CurrentBody parent Beauty Tech Group heading for London IPO. Valuation range £280-£320m. Revenue £101m, EBITDA £22.9m. New shares raising £29m, total offer size £106.5m (~35.5% of issued share capital). Founded 2009, backed by eComplete and Simon Cooper.

Risk warnings: Yes3 reactions

Pre-IPO analysis post with detailed financial metrics. No risk warnings or disclaimers despite providing valuation and investment-relevant data. Describes as 'rare D2C brand with global traction and clinical credibility'.

StockBoxcompany_page (media/investor platform)2025-05-01

StockBox interview with CEO Nick Tulloch. Highlights: "First helium production at the Rost Well targeted for Q3 2025", strong flow rates, plans for AIM listing. Tulloch claimed Mendell is "the only one extracting helium and selling it by the day" among London-listed helium companies, projected "250 MCF a day" production generating "significant revenue fairly quickly."

Risk warnings: No6 reactions

CEO making forward-looking production and revenue projections without any caveat language or risk warnings. Uniqueness claims ("only one extracting helium") unsubstantiated.

Eric Boylepersonal (Chairman, Mendell Helium plc)2026-01-27

"Following on from the drilling and production success at the company's Rost helium well, Mendell Helium plc CEO Nick Tulloch talks to StockBox about the recent successful £700,000 cash raising to support the drilling of a second 'Twin' helium well expected to be 50% financed by an independent US investor group."

Risk warnings: No12 reactions

Chairman promoting £700k fundraise on personal LinkedIn with forward-looking expansion claims and no risk warnings.

Deal History

1
bookbuild2025-11-12£500k
2025-11-12proposed2452HProposed Placing to raise approximately £0.5m
2025-11-12result2950HResult of Placing