SPARK Advisory Partners Limited (“SPARK”) is pleased to announce it has acted as Financial and Nominated Adviser to Zenova Group plc (“ZED”) in respect of its Placing and Subscription for £4.5m of new ordinary shares.
Zenova looks forward, as a result of its successful admission to AIM, to providing groundbreaking solutions in fire management. ZED’s products are created innovatively, offering high levels of prevention and suppression of fire. In addition, its insulation products provide superior heat/cooling retention when applied to existing structures or used in new construction. All of ZED’s products are independently tested to rigorous standards (both UK and International) by recognised third party agencies and are subject to continuous sample testing to maintain quality of manufacture.
The primary use of the proceeds will be intended to support Zenova’s growth strategy to build sales in the UK and other regions globally. The net proceeds will be used to manufacture products and establish inventory levels, accelerate Zenova’s research & development programme for additional products, expand the certification and independent testing programme, for marketing and operational expenses and to support working capital.