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Molten Ventures plc Post-transaction report

Post-transaction report

Category	Details
Name of issuer	Molten Ventures plc ("Molten Ventures" or the "Company")
Transaction details	In aggregate, the Issue of 21,261,548 New Ordinary Shares (comprising 16,666,667 Placing Shares, 3,703,703 Subscription Shares, 888,888 Retail Offer Shares and 2,290 Offer for Subscription Shares) represents approximately 13.9 per cent of the Company's issued ordinary share capital prior to Admission.
Use of proceeds	The proceeds of the Issue will further capitalise the Company's platform and allow the Company to: Continue to support Molten Ventures' existing high-growth technology portfolio of investments, investing in selective follow on investment opportunities as Molten Ventures' portfolio companies continue to grow. Make primary investments in new portfolio companies to capture exceptional opportunities as the valuation environment stabilises. Access exceptional secondary investments at attractive valuations. As dealmaking globally has slowed, liquidity has become increasingly important and harder to realise, leading to Molten Ventures seeing more opportunities to acquire strong assets at significant discounts. Where appropriate and value enhancing, continue to appraise complementary acquisition opportunities. Investment opportunities to roll-up well priced assets at a discount are available and may be further explored by the Molten Ventures team. Fund the Company's operational capital costs.
Quantum of proceeds	In aggregate, the Issue raised gross proceeds of approximately £57.4 million.
Discount	The Issue Price of 270.0 pence represents a discount of approximately 3.4 per cent. to the closing share price of 279.6 pence on 24 November 2023 (being the last business day prior to the announcement of the Issue), and a discount of c.63.3 per cent. to the last reported NAV per Ordinary Share (unaudited) as at 30 September 2023 of 735 pence.
Allocations	Soft pre-emption has been adhered to in the allocations process for the Placing, Retail Offer and Subscription (together, the "Fundraise"). Management was involved in the allocations process, which has been carried out in compliance with the MiFID II Allocation requirements. Allocations made outside of soft pre-emption were preferentially directed towards existing shareholders in excess of their pro rata interests and wall-crossed accounts.
Consultation	The Joint Bookrunners undertook a pre-launch wall-crossing process in accordance with the market-sounding regime under the Market Abuse Regulation, including consultation with major shareholders, to the extent reasonably practicable and permitted by law.
Retail investors	The Company values its retail investor base and provided its existing shareholders, in addition to new retail investors, who could not participate in the Placing and Subscription, with the opportunity to participate on the same commercial terms as the Placing and Subscription, via the PrimaryBid platform, for up to 1,465,637 Retail Offer Shares. Allocations in the Retail Offer were preferentially directed towards existing shareholders in keeping with the principle of soft pre-emption.

Molten Ventures plc Post-transaction report

Post-transaction report

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