Company Announcements

1 November 2022

DeepVerge PLC

("DeepVerge" or "Company")

Result of Broker Offer; Total Voting Rights

DeepVerge (AIM: DVRG), the environmental and life science group of companies that develops and applies AI and IoT technology to analytical instruments for the analysis and identification of bacteria, virus and toxins, announces that, further to the announcement made on 27 October 2022, the Broker Offer, a facility to allow existing shareholders and other interested parties to participate in the Fundraise on the same terms to the Placing announced, has now closed having raised a gross amount of £0.815 million. The Company received interest of approximately £1 million which was scaled back to give priority to existing shareholders.

Subject to approval at the General Meeting to be held on 14 November 2022, a total of 40,750,000 ordinary shares of 0.1p nominal value each ("Broker Offer shares") will be allotted conditional only on Third Admission with investors at 2p per share, the same price as the Placing announced on 27 October 2022. Each Broker Offer Share will rank pari passu with existing Ordinary Shares. One Placing Warrant will be issued for every 4 Broker Offer Shares successfully subscribed.

Application will be made for admission of the 40,750,000 Broker Option Shares which will rank pari passu with existing Ordinary Shares to trading on AIM ("Third Admission"), with Third Admission expected to be on or around 16 November 2022.

Total Voting Rights

Following First Admission (which took place at 800am on 1 November 2022), the Company's issued share capital now consists of 252,662,334 shares with a nominal value of 0.1p each, with voting rights ("Ordinary Shares").

Following Second Admission (expected 15 November 2022, subject to the Resolutions being approved by Shareholders at the General Meeting scheduled for 14 November 2022 ("General Meeting")), the Company's issued share capital will consist of 387,662,334 Ordinary Shares.

Following Third Admission (expected 16 November 2022, subject to the Resolutions being approved by Shareholders at the General Meeting) the Company's issued share capital will consist of 760,456,378 Ordinary Shares.

The Company does not hold any Ordinary Shares in Treasury.

Therefore, following each respective Admission, the above figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Terms and definitions in this notification are as defined in the notification of 27 October 2022.

Dr Nigel Burton, Interim CEO, commented: "The Company and Board are grateful for the continued support of our shareholders in challenging markets.  With a strengthened balance sheet, the Company can focus on leveraging its unique range of technologies to build on its strong customer base, accelerate the continued expansion of the business and deliver profitable growth and value for all our shareholders."

For further information, please contact:

Enquiries:

Market Abuse Regulation (MAR) Disclosure

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.