Equipmake Holdings - Result of Placing and Subscription
25/10/2024 12:22
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RNS Number : 7194J Equipmake Holdings PLC 25 October 2024
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
(EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY
VIRTUE OF THE EU (WITHDRAWAL) ACT 2018 ("MAR").
25 October 2024
Equipmake Holdings PLC
("Equipmake" or the "Company")
Result of Placing and Subscription
Equipmake, a market leader in engineering-driven differentiated
electrification technologies, products and solutions across the automotive,
truck, bus and speciality vehicle industries, is pleased to announce that,
further to its announcement at 7.02 a.m. (the "Launch Announcement"), the
Bookbuild has now closed and the Company has conditionally raised
approximately £3,000,000 in aggregate (before expenses) through the Placing
of 69,999,998 Placing Shares at the Issue Price, being 3 pence per New
Ordinary Share, and a subscription of 29,999,998 Subscription Shares at the
Issue Price.
Admission and Total Voting Rights
Application will be made for the Placing Shares to be admitted to trading on
the Aquis Apex exchange. It is expected that dealings in the VCT Placing
Shares will commence at 8.00 a.m. on or around 4 November 2024 ("First
Admission") and dealings in the General Placing Shares and Subscription Shares
is expected to commence at 8.00 a.m. on or around 5 November 2024 ("Second
Admission") (or such later date as may be agreed between the Company and the
Joint Brokers, but no later than 8:00 a.m. on 29 November 2024).
The Placing Shares and Subscription Shares will be issued fully paid and will
rank pari passu in all respects with the Company's existing Ordinary Shares.
Upon First Admission (admission to trading of 56,159,067 VCT Placing Shares)
the Company will have 1,076,233,636 Ordinary Shares in issue. There are no
shares held in treasury. The total voting rights in the Company will therefore
be 1,076,233,636 and shareholders may use this figure as the denominator by
which they are required to notify their interest in, or change to their
interest in, the Company under the Disclosure Guidance and Transparency Rules.
On Second Admission (admission to trading of 43,840,929 General Placing Shares
and Subscription Shares) the Company will have 1,120,074,565 Ordinary Shares
in issue. The total voting rights in the Company from Second Admission will
therefore be 1,120,074,565 and shareholders may use this figure as the
denominator by which they are required to notify their interest in, or change
to their interest in, the Company under the Disclosure Guidance and
Transparency Rules.
Related Party Transactions
Schroder Investment Management ("Schroder"), a Substantial Shareholder of the
Company (as defined in the Aquis Growth Market Access Rulebook), has
conditionally participated in the Placing for 10,000,000 Placing Shares at the
Issue Price for an aggregate of £300,000. Schroder currently holds an
interest in 10.29 per cent of the Company's currently issued Ordinary Shares
and their participation in the Placing is a related party transaction pursuant
to the Aquis Growth Market Access Rulebook. Upon Second Admission, Schroder is
expected to hold an interest in 10.27 per cent. of the Company's Ordinary
Shares. The directors of the Company, having exercised reasonable care, skill
and diligence, believe that the transaction is fair and reasonable as far as
the shareholders of the Company are concerned.
Ian Foley, founder, Chief Executive Officer and a Substantial Shareholder of
the Company (as defined in the Aquis Growth Market Access Rulebook), has
conditionally agreed to subscribe for 6,666,666 Subscription Shares at the
Issue Price for an aggregate of £200,000. Ian Foley currently holds an
interest in 36.76% of the Company's currently issued Ordinary Shares and their
participation in the Fundraise is a related party transaction pursuant to the
Aquis Growth Market Access Rulebook. Upon Second Admission, Ian Foley is
expected to hold an interest in 34.08 per cent. of the Company's Ordinary
Shares. The independent Directors of the Company, having exercised reasonable
care, skill and diligence, believe that the transaction is fair and reasonable
as far as the shareholders of the Company are concerned.
Capitalised terms used in this announcement and not separately defined shall
have the same meanings as defined in the Launch Announcement.
For further information, please contact:
Equipmake Via St Brides Partners
Ian Foley, Founder and CEO
Tony Ratcliffe, CFO
Panmure Liberum (Corporate Adviser and Joint Broker) Tel: +44 (0)20 7886 2500
James Sinclair-Ford / Anake Singh / Josh Moss
Mark Murphy / Hugh Rich / Sam Elder
VSA Capital Limited (Joint Broker) Tel +44 (0)20 3005 5000
Simon Barton / Alex Cabral
St Brides Partners (Financial PR Adviser) Tel: +44 (0)20 7236 1177
Susie Geliher / Paul Dulieu / Will Turner equipmake@stbridespartners.co.uk (mailto:equipmake@stbridespartners.co.uk)
About Equipmake
Equipmake is a UK-based industrial technology company specialising in the
engineering, development and production of electrification products to meet
the needs of the automotive and other sectors in support of the transition
from fossil-fuelled to zero-emission drivetrains.
Equipmake is a leader in high performance technologically advanced electric
motors, inverters and complete zero-emission electric drivetrains and power
electronic systems. Equipmake has developed a vertically integrated solution
providing fully bespoke solutions to its customers. The Company is focussed on
accelerating traction with OEM and Tier 1 suppliers in relation to higher
margin component and drivetrain supply under long-term growth contracts and
securing high margin licencing transactions.
Key differentiators of the Company offerings are its advanced technology and
performance, reliability and adherence to ASIL-D(1) functional safety.
Equipmake's advanced motor and inverter technology, featuring ASIL-D
compliance, are designed to customers' highest Functional Safety standards.
With decades of experience in electric drivetrain integration and a dedicated
prototype vehicle testing facility, Equipmake can significantly accelerate
product development for customers.
(1) Automotive Safety Integrity Level ("ASIL") is a risk classification scheme
defined by the ISO 26262 - Functional Safety for Road Vehicles standard and is
a critical requirement for road vehicles. Of the four ASILs identified by the
standard, ASIL-D dictates the highest integrity requirements on the product,
which require exceptional rigour in their development.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No.
596/2014
1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Ian Foley
2 Reason for notification
a. Position/Status Chief Executive Officer
b. Initial notification/ Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Equipmake Holdings PLC
b. LEI 213800NY1WGJ26E4HB59
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the financial instrument, type of instrument Ordinary Shares of ordinary shares of £0.0001 each
Identification Code
ISIN: GB00BMBVXB73
b. Nature of the transaction Purchase of shares
c. Price(s) and volume(s)
Price Volume
0.3 6,666,666
d. Aggregated information n/a single transaction
- Aggregated Volume
- Price
e. Date of the transaction 25 November 2024
f. Place of the transaction Outside a trading venue
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