FINPROM Findings

1
low2025-02-25RNS 3523Y
dilution_red_flags
Placing of 12,560,583 Placing Shares to new and existing institutional investors and (ii) the Subscription for 27,044,141 Subscription Shares...discount of approximately 15 per cent...16.5 per cent. of the Company's enlarged issued share capital

Subscription shares (27m) are more than double the institutional placing shares (12.6m), suggesting the majority of the raise bypassed the open bookbuild. Combined with a 15% discount and 16.5% dilution, this warrants scrutiny of allocation fairness.

RNS Announcements

1
2025-02-253523Y

Result of Placing and Subscription

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN (TOGETHER THIS "ANNOUNCEMENT"), IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS (AS D…

LinkedIn Activity

5
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
Cora Goldcompany_page2026-03-10

Delighted to give existing investors the opportunity to participate in the fundraise. Retail offer to raise up to ~£2 million via BookBuild platform.

Risk warnings: No40 reactions
Savannah Resources PLC (company page) / Proactive Investorscompany / media_outlet2023-07 to 2025

Savannah Resources' own LinkedIn page and Proactive Investors posted about multiple fundraises: a £9.2m oversubscribed placing and subscription (scaled back from higher demand), a £6.5m fundraise at market price made available to private investors via PrimaryBid (July 2023), a £6.1m placing and subscription, and a further £1m placing to a major shareholder. The retail offer component via PrimaryBid was highlighted as providing retail shareholder access. CEO also discussed Barroso lithium project funding on Proactive.

Risk warnings: Yes

LinkedIn posts from company page: linkedin.com/company/savannah-resources-plc. Proactive post: linkedin.com/posts/proactive-investors_savannah-resources-ceo-outlines-way-forward-activity-7348705237223833601. Pattern of repeat raises with PrimaryBid retail component is consistent with the 'repeat raises' concern.

RetailBookbroker_platform

RetailBook powered retail investor access to Frontier IP Group plc, seamlessly integrating retail participation into capital market transactions. (Mentioned across RetailBook company page and associated profiles but no dedicated standalone post found with full details.)

Risk warnings: No

No standalone LinkedIn post found specifically about the Frontier IP RetailBook offer. RetailBook references Frontier IP as a case study on their profile/activity. No risk warnings, no mention of going concern. Nicholas Smith profile (4K followers) associated with RetailBook but his posts focused on Treasury Bills pilot, not Frontier IP specifically.

Poolbeg Pharma plccompany_page2026-01-09

2026 outlook post highlighting clinical milestones: POLB 001 TOPICAL trial interim data expected summer 2026, Oral GLP-1 PoC topline data expected H1 2026. States company is 'funded through this catalyst-rich period, with a cash runway extending into 2027'.

Risk warnings: No41 reactions

No direct fundraise announcement found on LinkedIn for Poolbeg. This post emphasises cash runway to 2027. No BookBuild or retail targeting language found in any Poolbeg LinkedIn posts. A separate profile (Michael Fleming) mentioned participating in a Poolbeg share placing with £100k investment, but post not directly accessible. URL: https://www.linkedin.com/posts/poolbeg-pharma_polb-catalystrich-aim-activity-7415289997668360192-LCu-

Board of Directors

7
NameRoleAppointedStatus
Catherine Jane ApthorpeNon-Executive Director2018-06-10active
David SteinNon-Executive Director2017-11-20active
Mark Andrew CrannyChief Financial Officeractive
Mark Graham BoltonManaging Director2022-11-22active
Mark Graham BoltonDirector2020-04-01active
Michael Lindsay HigginsNon-Executive Chairman2017-09-08active
Timothy James HargreavesNon-Executive Director2017-11-20active

Deal History

1
bookbuild2025-02-25£2.77m
2025-02-25result3523YResult of Placing and Subscription
2025-02-25announcement6854ZUpdate on Issue of Equity Fundraising