Microsaic Regulatory News (MSYS)

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA, NEW ZEALAND OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT AND AT THE START OF THE APPENDIX.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN MICROSAIC SYSTEMSPLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF MICROSAIC SYSTEMS PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 AS RETAINED IN UK LAW PURSUANT TO SECTION 3 EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). IN ADDITION, MARKET SOUNDINGS WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF INSIDE INFORMATION. THIS INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF SUCH INSIDE INFORMATION

Microsaic Systems plc

(AIM: MSYS)

("Microsaic" or the "Company")

Full Exercise of Broker Option

Defined terms used in this announcement have the same meaning as in the Circular sent to shareholders on 19 January 2021 and available on the Company's website, www.microsaic.com.

Microsaic, the high technology company which develops point-of-need mass spectrometers, designed to improve the efficiency of chemical and biological workflows, is pleased to announce that further to the announcement of the Placing on 19 January 2021 the Broker Option has now closed. The Broker Option was substantially oversubscribed and has been exercised in respect of the maximum 500,000,000 New Ordinary Shares available under the option. This will raise a further £500,000 in gross proceeds for the Company, bringing the total funding conditionally raised from the Placing and the Broker Option (before ex;4penses) to £5.5 million.

Turner Pope, the Company's Placing Agent, has determined all Broker Option Share allocations at its discretion (after consultation with the Company) and has notified counterparties of the number of Broker Option Shares they have been allocated.

Application will be made in due course to the London Stock Exchange for 5,620,000,000 Ordinary Shares, including the Placing Shares, the Fees Shares and the Broker Option Shares, to be admitted to trading on AIM. It is expected that Admission will occur and dealings will commence on 5 February 2021 at 8.00 a.m.. The Transaction is conditional upon, amongst other things, Admission becoming effective and is subject to approval at the General Meeting on 4 February 2021.

Following Admission, the Company will have 6,076,365,146 Ordinary Shares in issue. Therefore, the Company hereby confirms that the total number of voting rights in the Company will, following Admission, be 6,076,365,146. This figure will be confirmed following the result of the General Meeting on 4 February 2021.

Related party transaction

Unicorn Asset Management, a substantial shareholder in the Company (and therefore a related party of the Company for the purposes of the AIM Rules), has subscribed for 600,000,000 Placing Shares and 75,000,000 Broker Option Shares at the Placing Price. The participation by Unicorn Asset Management in the Broker Option is deemed to be a related party transaction pursuant to Rule 13 and Rule 16 of the AIM Rules. Further to the fair and reasonable statement made in the announcement on 19 January 2021, the Director independent of the Transaction, being Peter Grant (Non ‐ executive Chairman), considers, having consulted with the Company's nominated adviser that the terms the participation of Unicorn Asset Management in the Placing and Broker Option, are fair and reasonable insofar as the Company's shareholders are concerned.

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