SND.L Regulatory News (SND)

29 May 2024

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

Regulatory Condition to Conditional £5.6m Subscription

Sondrel (AIM: SND), a leading provider of ultra-complex chips for leading global technology brands, announced on 14 May 2024 that it had conditionally raised gross proceeds of £5,625,400 pursuant to a subscription by ROX Equity Partners Limited for 56,254,000 new ordinary shares in the Company at an issue price of 10 pence per new ordinary share (the "Subscription").

The Subscription remains conditional upon, inter alia, Sondrel independent shareholder approval at a general meeting to be held on 30 May 2024 (the "General Meeting") and approval by the UK secretary of state of ROX's proposed investment in the Company as required by the National Security and Investment Act 2021 ("NSIA Approval").

Sondrel announces that it has now been informed that NSIA Approval is unlikely to be received prior to the General Meeting. As such it is currently anticipated that admission of the new ordinary shares to be issued pursuant to the Subscription will take place after 31 May 2024, but prior to the agreed long stop date of 8:00 am on 13 June 2024.

A further announcement in connection with the status of the NSIA Approval, together with an updated admission date, will be made in due course as and when appropriate.

For further information:

About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end, complex digital Application Specific Integrated Circuits (ASICs) and System on Chips (SOCs). It provides a full turnkey service in the design, prototyping, testing, packaging and production of ASICs and SoCs.

The Company is one of only a few companies capable of designing and supplying the higher-spec chips built on the most advanced semiconductor technologies, selling into a range of hyper growth end markets such as high-performance computing, automotive, artificial intelligence, VR/AR, video analytics, image processing, mobile networking and data centres. Sondrel designs have enabled products by leading technology brands including Apple (iPhone), Sony (PlayStation), Meta's (Oculus), Samsung, Google and Sony smartphones, JVC (prosumer camcorders), Tesla and Mercedes-Benz cars.

Sondrel is well-established, with a 20-year track record of successful delivery, supported by long standing ecosystem partnerships including Arm, TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with offices in UK, USA, China, India and Morocco.

For more information please visit: ir.sondrel.com.