Early settlement of Repurchase Offers

06 Feb 2023 15:07 CET

DISRUPTIVE CAPITAL ACQUISITION COMPANY LIMITED

(“DCAC or the Company”)

Early settlement of Repurchase Offers

6 February 2023

THIS PRESS RELEASE CONTAINS INFORMATION THAT QUALIFIES OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE EU MARKET ABUSE REGULATION. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF APPLICABLE SECURITIES LAWS

Under the Repurchase Offer (as defined and undertaken pursuant to the tender document issued by the Company on 25 January 2023), shareholders have been eligible to submit tenders  for settlement ahead of the final date for tenders to be submitted.

As of today 6^th February 2023, GBP 337,156 has been settled.  The Company understands that further tenders of GBP 8,623,723 have been received and are being processed today.

The current total settled amount of GBP 337,156 is in respect of 31,250 Ordinary Shares tendered by Disruptive Capital GP Limited, Sponsor of DCAC, being 10% of the number of Ordinary Shares previously held by it (the "DCGP Settlement Proceeds"). Under the terms of a Contribution and Nominee Agreement, the Directors of the Company are beneficially interested in the DCGP Settlement Proceeds as follows:

Edmund Truell   GBP   2,529

Roger Le Tissier GBP 11,463

Wolfe Becke       GBP   4,046

The intention of DCGP in tendering 10% of its Ordinary Shares was to ensure that the settlement process was working satisfactorily; and, in particular, to anticipate and mitigate potential issues arising in the maintenance of the listing by virtue of having an appropriate proportion of the Ordinary Shares in free float.  Depending on the outcome of the EGM in respect of the Stub Tender Offer (as defined in the Stub Tender Offer Circular issued by the Company on 25  January 2023), and any consequential diminution in the free float, the Sponsor seeks to ensure that the listing can be maintained in line with market standards.

The Sponsor will not tender any further Ordinary Shares; nor will it tender any Ordinary Shares into the Stub Tender Offer (if so approved).

The Company continues to explore possible Business Combination targets.  As noted in previous shareholder communications, initial discussions have been encouraging, but there can be no guarantee that they will progress to an agreement, nor that any such proposal would be acceptable to shareholders.

Enquiries to:

disruptive@admina.gg 

Registered office First Floor

10 Lefebvre Street
St Peter Port
Guernsey
GY1 2PE

Media inquiries:

DCAC:
James Culverhouse
EQ
James.culverhouse@eqcorp.co
+44 (0)20 7223 1100/+44(0)7912 508 322