Image source: © 2025 Krish Capital Pty. Ltd.

Highlights

  • Zenova has conditionally raised £262,500 via a placing and subscription of 131,250,000 new shares at 0.20 pence per share.

  • The company achieved its monthly target of 1,000 units for its 6L FX extinguishers within the first month, supported by recurring UK and international orders.

  • Total voting rights will increase to 371,475,973 following admission on or around 28 August 2025, with CEO Thomas Melchior subscribing for 25,000,000 new shares.

Zenova Group PLC (LSE:ZED), a provider of fire safety and heat management technology solutions, has announced a conditional fundraise of £262,500 through a placing and subscription of 131,250,000 new ordinary shares. The new shares are priced at 0.20 pence each and were placed with existing shareholders, new institutional investors, and several new high net worth investors, arranged by corporate broker Peterhouse Capital Limited.

The fundraise, which remains conditional on admission, will provide Zenova with additional working capital to support its expanding order book, particularly demand for its FX range of fire extinguishers. Alongside the placing, warrants have been issued on a one-for-one basis, enabling investors to subscribe for additional shares at 0.40 pence per share within a 24-month period from admission.

Corporate Update

Zenova is currently experiencing increased demand in the UK, driven in part by regulatory changes under the UK Fire Safety Act 2021, which is phasing out foam extinguishers containing PFAS chemicals. This shift is generating structural demand for alternative solutions such as Zenova’s FX range, which uses a proprietary fluid capable of extinguishing multiple fire types.

The company set an internal monthly sales target of 1,000 units for its 6L FX extinguishers and has already achieved this milestone within the first month, supported by recurring orders from multiple customers. Forward sales commitments extend into the next financial year.

Internationally, Zenova continues to expand its market presence. The company has secured contracts in Europe, including the delivery of its 6L FX extinguishers to the Czech Republic Customs Authorities. In addition, Zenova’s joint venture with its distribution partner in Albania has become fully operational, producing Zenova FP coatings. The facility has already completed delivery of its first order to a new international client.

Admission and Total Voting Rights

Following the issue of the new shares, Zenova’s total voting rights will increase from 240,225,973 to 371,475,973 ordinary shares of £0.001 each. This figure will serve as the denominator for shareholders to determine whether they are required to notify the company of changes to their interests under the Disclosure Guidance and Transparency Rules. Admission of the new shares to trading on AIM is expected on or around 28 August 2025.

Director Participation

As part of the fundraise, Zenova Chief Executive Officer Thomas Melchior has agreed to subscribe for 25,000,000 new ordinary shares at the issue price of 0.20 pence per share. This participation constitutes a related party transaction under AIM rules.