REG - Libertine Holdings - Admission to Trading on AIM, First Day of Dealings

Libertine HoldingsAnnouncement

23/12/2021 07:00

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RNS Number : 5535W  Libertine Holdings PLC  23 December 2021

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23 December 2021

Libertine Holdings PLC

("Libertine" the "Company" or the "Group")

Admission to Trading on AIM, First Day of Dealings

Libertine Holdings PLC, a developer of clean, highly efficient and
fuel-flexible Linear Generator products, is pleased to announce the admission
of its entire issued and to be issued ordinary share capital to trading on the
AIM market of the London Stock Exchange ("Admission"). Admission will take
place and dealings will commence at 8.00 am GMT today under the ticker LIB and
ISIN GB00BN6PSG15.

Founded in 2009, the Group has developed a technology solution for powertrain
original equipment manufacturers, enabling efficient and clean power
generation from renewable fuels. Under the Placing, the Company has
conditionally raised £9 million (before expenses). The net proceeds will
provide the Company with funds to increase headcount to support business
development and commercial project delivery, enhance the Group's technology
platform for integration into customer products, and expand the Group's
existing operating facilities to provide further testing and prototype build
capacity.

 

Admission follows a successful placing by Panmure Gordon (UK) Limited
("Panmure Gordon"), of 45,000,000 new ordinary shares (the "Placing Shares")
of 0.1 pence each in the capital of the Company (the "Shares") at a price of
20 pence per share (the "Placing Price") raising gross proceeds of £9.0
million. On Admission the Company will have a market capitalisation of
approximately £27.6 million and 138,089,010 Shares in issue.

The Company's Admission Document is available to view on the Company's website
at https://libertine.co.uk/ (https://libertine.co.uk/) .

Sam Cockerill, Chief Executive of Libertine, commented:

"The successful completion of our IPO represents an exciting milestone and
marks the beginning of the next phase for Libertine, building on our recent
technical and commercial progress. This new investment will allow us to expand
our core technology development and business development activities as we work
with OEM partners to create Linear Generator products that will work alongside
battery electrification to produce clean power from renewable fuels.

"I am delighted to welcome our new shareholders and would like to thank them
for their support and for sharing our vision. We look forward to working with
them in the years ahead, building on our strong foundations and delivering our
growth plans as we help our OEM partners realise the full potential of Linear
Generator technology."

 

For more information, please visit www.libertine.co.uk
(http://www.libertine.co.uk) or contact:

 Libertine Holdings plc                      via Tavistock
 Sam Cockerill, Chief Executive Officer
 Gareth Hague, Chief Financial Officer

 Panmure Gordon (NOMAD and Broker)           +44 20 7886 2500

 John Prior
 Ailsa Macmaster
 Hugh Ruch (Corporate Broking)

 Tavistock (Public Relations)                +44 207 920 3150
 Simon Hudson                                libertine (mailto:libertine@tavistock.co.uk) @tavistock.co.uk
                                             (mailto:libertine@tavistock.co.uk)
 Rebecca Hislaire
 Nick Elwes

 

Notes to editors

Founded in 2009, Libertine has developed a technology solution for powertrain
original equipment manufacturers ("OEMs"), enabling efficient and clean power
generation from renewable fuels.

Libertine's linear electrical machines, controls and developer tools together
form a technology platform (intelliGEN™) which the Company provides to OEM
customers for the development of clean, highly efficient and fuel-flexible
Linear Generator products. The platform is a result of over a decade of
development of Linear Generator technology with multiple successful client-led
development programmes.

Linear Generators have the potential to complement battery electrification
within hybrid powertrains as range extenders, addressing a number of
significant practical and economic barriers to the rapid adoption of clean
electric propulsion using battery electric powertrain technology alone.

The potential market for Linear Generator products goes well beyond the
distributed power generation applications where Linear Generators are already
in commercial use today. The addressable market for Linear Generators includes
over 12 million heavy-duty and light duty commercial vehicles as well as
off-grid, waste-to-energy, energy storage and other distributed power
generation applications, which in total are estimated to be worth between
$80-120 billion by 2025.

Linear Generator products using Libertine's technology could work alongside
battery electrification in hybrid systems to accelerate the decarbonisation of
'hard to electrify' applications, including:

·      heavy-duty and off highway powertrains;

·      medium and light-duty commercial hybrid vehicles;

·      a proportion of the passenger automotive market where vehicle
use, and recharging constraints are a barrier to electrification; and

·      a range of distributed power generation applications.

Libertine receives engineering fees by providing linear e-machine hardware,
controls and developer tools. Working with OEMs ensures Libertine's technology
platform is effectively integrated into OEM partner product development
programmes from an early stage in the development cycle, maximising the
performance and economic benefits provided by Libertine's platform technology.

Libertine has developed a portfolio of over 30 granted patents in addition to
a significant body of technical know-how since the company's formation in
2009. The Company's senior management team and board includes executives with
decades of deep technical experience in the automotive and energy industries.

Important Notices

This announcement is for information purposes only and does not constitute, or
form part of, any offer or invitation to sell, allot or issue, or any
solicitation of any offer to purchase or subscribe for, any securities in the
Company in any jurisdiction nor shall it, or any part of it, or the fact of
its distribution, form the basis of, or be relied on in connection with or act
as an inducement to enter into, any contract or commitment therefor.

 

Panmure Gordon which is authorised and regulated by the Financial Conduct
Authority in the United Kingdom, is acting exclusively for the Company and
no-one else in connection with the Placing and Admission. Panmure Gordon will
not regard any other person as its client in relation to the Placing or
Admission and will not be responsible to anyone other than the Company for
providing the regulatory protections afforded to its clients, nor for
providing advice in relation to the contents of this announcement or any
transaction, arrangement or other matter referred to herein. The
responsibility of Panmure Gordon as nominated adviser to the Company is owed
solely to the London Stock Exchange and is not owed to the Company or any
director of the Company or to any other person in respect of such person's
decision to acquire shares in the Company. To the fullest extent permitted by
law, no representation or warranty, express or implied, is made by Panmure
Gordon as to the contents of this announcement or any matter, transaction or
arrangement referred to in it, and no liability whatsoever is accepted by
Panmure Gordon for the accuracy of any information or opinions contained in
this announcement or for the omission of any material information for which it
is not responsible.

 

This announcement is not for publication or distribution, in whole or in part,
directly or indirectly, in or into the United States, Australia, Canada, the
Republic of South Africa, the Republic of Ireland, New Zealand, Japan or any
other jurisdiction where to do so would constitute a violation of the relevant
laws of such jurisdiction. The distribution of this announcement may be
restricted by law in certain jurisdictions and persons into whose possession
any document or other information referred to herein comes should inform
themselves about and observe any such restriction. Any failure to comply with
these restrictions may constitute a violation of the securities laws of any
such jurisdiction.

 

This announcement does not form the basis of or constitute any offer or
invitation to sell or issue, or any solicitation of any offer to purchase or
subscribe for any Ordinary Shares or any other securities nor shall it (or any
part of it) or the fact of its distribution, form the basis of, or be relied
on in connection with, any contract or commitment therefor. In particular,
this announcement does not constitute an offer to sell, or a solicitation of
an offer to buy, Ordinary Shares in the United States.

For the avoidance of doubt, the contents of the Company's websites are not
incorporated by reference into, and do not form part of, this announcement.

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