LONDON - Caledonian Holdings PLC (AIM:CHP) announced today it has established an At the Market Facility with Axis Capital Markets Limited, allowing the company to issue and sell up to 350,000,000 new ordinary shares, according to a press release statement.
The company also appointed Axis as joint broker alongside AlbR Capital Limited.
The ATM facility follows shareholder approval granted at the annual general meeting on May 11, 2026, authorizing the issuance of up to 350,000,000 new ordinary shares through such facilities.
Under the arrangement, Caledonian will issue ordinary shares of £0.01 nominal value to an FCA-regulated custodian appointed by Axis in tranches by mutual agreement. The company plans to make a block admission application for up to 26,010,702 shares in an initial tranche, representing approximately 20% of its current issued share capital.
The facility includes several restrictions: sales are limited to 3% of issued share capital per day, with a maximum discount of 5% to volume weighted average price. The company cannot operate the facility during closed periods as defined under Market Abuse Regulation. The minimum term of the facility is one year.
Axis will deduct a 3% broker fee and settlement costs from gross proceeds, with net proceeds paid to the company at the end of each settlement period.
The company stated the facility aims to provide a mechanism to raise capital close to prevailing market prices and provide funds for development and to satisfy obligations under an existing debt facility with YA II PN Ltd announced on November 14, 2025.
Keith Barclay, Investment Director of Caledonian Holdings, said the facility provides "an additional flexible funding route" as the company builds its financial services strategy following the acquisition of Aspire.
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