The Directors
OTAQ PLC
8-3-4 Harpers Mill,
South Road,
White Cross,
Lancaster,
LA1 4XF
25 June 2024
Dear Sirs and Madam,
Proposed fundraise and Rule 9 Waiver
We refer to the announcement (the "Announcement") of the proposed fundraise comprising the issue of up to £3m Convertible Loan Notes 2027 and related waiver of a mandatory offer obligation which would otherwise be required by Rule 9 of the City Code on Takeovers and Mergers (the "Code" and "Rule 9 Waiver") and to the related circular (the "Circular") to that is to be issued on or around the date hereof.
We have also provided independent advice to you, the OTAQ Board, in relation to certain related party transactions in the context of Dowgate Capital Ltd, your AQSE Corporate Adviser, being a substantial shareholder and having conflicts of interest.
In accordance with Rule 23.2 of the Code, we have given and not withdrawn our consent to the inclusion of our advice and references to our name in the Announcement and the Circular in each case in the form and context in which it appears.
We hereby consent to this letter being made available for inspection.
Yours faithfully,
For and on behalf of
Guild Financial Advisory Limited
David Floyd
Authorised signatory
Guild Financial Advisory Limited, Registered in England & Wales No. 11611887. Registered office: 382 Russell Court Woburn Place, London, England, WC1H 0NH Authorised and regulated by the Financial Conduct Authority No. 922996
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
OTAQ plc published this content on 05 July 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 July 2024 15:36:05 UTC.