REG - LifeSafe Holdings - Result of Placing and Subscription
14/05/2024 18:30
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RNS Number : 4376O LifeSafe Holdings PLC 14 May 2024
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE,
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF
SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN
OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE
ACQUIRE ANY SECURITIES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR
SOLICITATION WOULD BE UNLAWFUL, INCLUDING THE UNITED
STATES, CANADA, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA. NEITHER
THIS ANNOUNCEMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE
RELIED UPON IN CONNECTION WITH, ANY SUCH OFFER, SOLICITATION OR COMMITMENT
WHATSOEVER IN ANY OF THOSE JURISDICTIONS.
14 May 2024
LifeSafe Holdings plc
("LifeSafe", the "Group", or the "Company")
Result of over-subscribed Placing and Subscription
LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire
extinguishing fluids and fire safety products, announces that, further to its
announcement at 4.35 p.m. on 14 May 2024, it has successfully conditionally
completed and closed the conditional Placing and Subscription to raise gross
proceeds of £1.7 million.
The over-subscribed Placing has conditionally raised gross proceeds of £1.6
million through the placing of 16,050,000 new Ordinary Shares ("Placing
Shares") to certain institutional and other investors and the Subscription has
raised a further £95,000 through the subscription of 950,000 new Ordinary
Shares ("Subscription Shares") by certain other investors directly with the
Company, in each case at a price of 10 pence per share ("Issue Price").
In addition to the Placing and Subscription, the Company is providing all
shareholders with the opportunity to subscribe for an aggregate of up to
3,000,000 Retail Offer Shares at the Issue Price, to raise up to
approximately £0.3 million. No part of the Placing or Subscription is
conditional on the Retail Offer proceeding or on any minimum take-up under the
Retail Offer.
The Placing, Subscription and Retail Offer (together, the "Fundraising") are
conditional upon, inter alia, the approval by the Shareholders of the
Resolutions to be proposed at the General Meeting to be held at 10.00 a.m. on
Thursday 30 May 2024. A circular, containing further details of the
Fundraising, Notice of General Meeting, proxy form and Application Form
(together the "Circular") will be despatched to Shareholders today and will be
available on the Company's website at https://www.lifesafeholdingsplc.com/
(https://www.lifesafeholdingsplc.com/) .
It is expected that Admission will occur, and that dealings will become
effective on or around 8.00 a.m. on 31 May 2024. The Placing Shares, the
Subscription Shares and the Retail Offer Shares (together, the "Fundraising
Shares") will be issued fully paid and will rank pari passu in all respects
with the Company's existing Ordinary Shares, including the right to receive
all dividends or other distributions made, paid or declared in respect of such
shares.
The net proceeds of the Fundraise will ensure the Company has sufficient
working capital to meet its existing and future liabilities, as well as to
permit the Board to advance business development and leverage market position.
Related Party and Director participation in the Placing
Dominic Berger, the Executive Chairman of the Company, has agreed to subscribe
for 350,000 new Ordinary Shares in the Placing. Immediately following
Admission, the total number of Ordinary Shares held by Dominic Berger will
be 1,330,345 representing 2.78 per cent. of the Enlarged Share Capital,
assuming full take-up of the Retail Offer.
Gavin Cornelius, Chief Innovation Officer, has agreed to subscribe for 250,000
new Ordinary Shares in the Subscription. Immediately following Admission, the
total number of New Ordinary Shares held by Gavin Cornelius will be
2,173,750 representing 4.54 per cent. of the Enlarged Share Capital, assuming
full take-up of the Retail Offer.
The participation by Mr Berger and Mr Cornelius in the Fundraising constitutes
a related party transaction under the AIM Rules for Companies. Accordingly,
the Board (excluding Dominic Berger), having consulted with the Company's
nominated adviser, Zeus, consider that the terms of Dominic Berger and Gavin
Cornelius' participation in the Fundraising is fair and reasonable insofar as
Shareholders are concerned.
General Meeting and Posting of Circular
The Fundraising is subject to shareholder approval at the General Meeting be
held at LifeSafe Holdings plc, Basepoint Business Centre, Isidore Road,
Bromsgrove Enterprise Park, Bromsgrove, B60 3ET at 10.00 a.m. on 30 May 2024.
The Company expects to publish today a shareholder circular to convene the
General Meeting.
The Resolutions to be passed at the General Meeting are as follows:
· Resolution 1 (Authority to allot shares), which is an ordinary
resolution, to authorise the Directors to allot relevant securities for cash
up to an aggregate nominal amount of £160,500 in respect of the Placing, up
to £9,500 in respect of the Subscription and up to £30,000 in respect of the
Retail Offer.
· Resolution 2 (Disapplication of pre-emption rights), which is
conditional on the passing of Resolution 1 and is a special resolution, grants
authority to the Directors to disapply pre-emption rights granted to
Shareholders pursuant to the Companies Act 2006, in respect of the allotment
of the Fundraising Shares. The authorities conferred by the resolutions are in
addition to the existing authorities conferred on the Directors by
Shareholders at the 2023 AGM, which are due to expire at the conclusion of the
annual general meeting of the Company to be held in 2024.
Admission
Application will be made to the London Stock Exchange for admission of the
Fundraising Shares to trading on AIM ("Admission"). It is expected that,
subject to the necessary resolutions being passed at the General Meeting,
Admission will become effective and dealings in the Fundraising Shares will
commence at 8.00 a.m. on 31 May 2024.
Admission is conditional, inter alia, upon Admission becoming effective, the
Placing Agreement not having been terminated and becoming unconditional, and
upon the approval of Shareholders at the Company's forthcoming General Meeting
to be held on or around 30 May 2024.
Capitalised terms used but not defined in this announcement have the meanings
given to them in the Company's announcement released at 4.35 p.m. on 14 May
2024 in respect of the Placing and Subscription unless the context provides
otherwise.
Dominic Berger, Executive Chairman, commented: "In light of market
conditions we are pleased our existing institutional shareholders continue to
support the Company and its strategy. We also welcome the new institutional
shareholders who have decided to invest at this time and are grateful for
their belief in our vision for the business."
For further enquiries:
LifeSafe Holdings plc
Dominic Berger, Chairman info@lifesafetechnologies.com (mailto:info@lifesafetechnologies.com)
Neil Smith, Chief Executive Officer
Mike Stilwell, Chief Financial Officer
Zeus (Nominated Adviser & Broker) Tel: +44 (0) 203 829 5000
David Foreman, Alexandra Campbell-Harris (Investment Banking)
Alice Lane (Corporate Broking)
IMPORTANT NOTICES
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
FORM ANY PART OF AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO
BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN THE UNITED STATES
(INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND
THE DISTRICT OF COLUMBIA (COLLECTIVELY, THE "UNITED STATES"), AUSTRALIA,
CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR
SOLICITATION WOULD BE UNLAWFUL OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE
SUCH OFFER OR SOLICITATION. NO PUBLIC OFFERING OF THE PLACING SHARES OR
SUBSCRIPTION SHARES IS BEING MADE IN ANY SUCH JURISDICTION. ANY FAILURE TO
COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES
LAWS OF SUCH JURISDICTIONS.
This Announcement is not for public release, publication or distribution, in
whole or in part, directly or indirectly, in or into the United States,
Australia, Canada, the Republic of South Africa, Japan or any other
jurisdiction in which such release, publication or distribution would be
unlawful ("Restricted Territory") or distributed to any individual outside a
Restrictive Territory who is a resident thereof.
The securities referred to herein have not been and will not be registered
under the U.S. Securities Act of 1933, as amended (the "US Securities Act"),
and may not be offered or sold in the United States, except pursuant to an
applicable exemption from the registration requirements of the US Securities
Act and in compliance with any applicable securities laws of any state or
other jurisdiction of the United States, or under the securities laws of
Australia, Canada, the Republic of South Africa, Japan, or any state, province
or territory thereof or any other jurisdiction outside the United Kingdom,
except pursuant to an applicable exemption from the registration requirements
and in compliance with any applicable securities laws of any state, province
or other jurisdiction of Australia, Canada, the Republic of South Africa or
Japan (as the case may be).
No public offering of the Placing Shares or Subscription Shares is being made
in Australia, Canada, the Republic of South Africa or Japan or elsewhere.
No action has been taken by the Company or Zeus or any of their respective
affiliates, or any of its or their respective directors, officers, partners,
employees, advisers and/or agents (collectively, "Representatives") that would
permit an offer of the Placing Shares or possession or distribution of this
Announcement or any other publicity material relating to such Placing Shares
in any jurisdiction where action for that purpose is required. Persons
receiving this Announcement are required to inform themselves about and to
observe any restrictions contained in this Announcement. Persons (including,
without limitation, nominees and trustees) who have a contractual or other
legal obligation to forward a copy of this Announcement should seek
appropriate advice before taking any action. Persons distributing any part of
this Announcement must satisfy themselves that it is lawful to do so.
No offering document or prospectus will be made available in any jurisdiction
in connection with the matters contained or referred to in this Announcement
or the Placing and no such offering document or prospectus is required to be
published by the Company.
Zeus, which is authorised and regulated by the Financial Conduct
Authority ("FCA") in the United Kingdom, is acting as nominated adviser, sole
broker and sole bookrunner exclusively for the Company and no one else in
connection with the Placing and will not regard any other person (whether or
not a recipient of this Announcement) as a client in relation to the Placing
and will not be responsible to anyone other than the Company in connection
with the Placing or for providing the protections afforded to their clients
or for giving advice in relation to the Placing or any other matter referred
to in this Announcement. The responsibilities of Zeus, as nominated adviser,
are owed solely to London Stock Exchange plc and are not owed to the Company
or to any director or any other person and accordingly no duty of care is
accepted in relation to them. No representation or warranty, express or
implied, is made by Zeus as to, and no liability whatsoever is accepted by
Zeus in respect of, any of the contents of this Announcement (without limiting
the statutory rights of any person to whom this Announcement is issued).
This Announcement is being issued by and is the sole responsibility of the
Company. No representation or warranty, express or implied, is or will be made
as to, or in relation to, and no responsibility or liability is or will be
accepted by or on behalf of Zeus (apart from the responsibilities or
liabilities that may be imposed by the Financial Services and Markets Act
2000, as amended ("FSMA") or the regulatory regime established thereunder)
and/or by any of its affiliates and/or any of its Representatives as to, or in
relation to, the accuracy, adequacy, fairness or completeness of this
Announcement or any other written or oral information made available to or
publicly available to any interested party or their respective advisers or any
other statement made or purported to be made by or on behalf of Zeus and/or
any of its affiliates and/or by any of its Representatives in connection with
the Company, the Placing Shares or the Placing and any responsibility and
liability whether arising in tort, contract or otherwise therefor is expressly
disclaimed. No representation or warranty, express or implied, is made by Zeus
and/or any of its affiliates and/or any of its Representatives as to the
accuracy, fairness, verification, completeness or sufficiency of the
information or opinions contained in this Announcement or any other written or
oral information made available to or publicly available to any interested
party or their respective advisers, and any liability therefor is expressly
disclaimed.
This Announcement does not constitute a recommendation concerning any
investor's options with respect to the Placing. Recipients of this
Announcement should conduct their own investigation, evaluation and analysis
of the business, data and other information described in this Announcement.
This Announcement does not identify or suggest, or purport to identify or
suggest, the risks (direct or indirect) that may be associated with an
investment in the Placing Shares. The price and value of securities can go
down as well as up and investors may not get back the full amount invested
upon the disposal of the shares. Past performance is not a guide to future
performance. The contents of this Announcement are not to be construed as
legal, business, financial or tax advice. Each investor or prospective
investor should consult his or her or its own legal adviser, business adviser,
financial adviser or tax adviser for legal, business, financial or tax advice.
This Announcement has been prepared for the purposes of complying with
applicable law and regulation in the United Kingdom and the information
disclosed may not be the same as that which would have been disclosed if this
Announcement had been prepared in accordance with the laws and regulations of
any jurisdiction outside the United Kingdom.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Dominic Berger
2 Reason for the notification
a) Position/status Executive Chairman
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name LifeSafe Holdings plc
b) LEI 2138004KSXCPNWGSL119
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 Purchase of Placing Shares
Identification code
ISIN: GB00BP83Y473
b) Nature of the transaction Purchase of ordinary shares of £0.01 each in the Company
c) Price(s) and volume(s) Price No. of shares
10 pence 350,000
d) Aggregated information
- Aggregated volume
- Price 350,000 shares
10 pence
e) Date of the transaction 14 May 2024
f) Place of the transaction XLON, AIM
d)
Aggregated information
- Aggregated volume
- Price
350,000 shares
10 pence
e)
Date of the transaction
14 May 2024
f)
Place of the transaction
XLON, AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gavin Cornelius
2 Reason for the notification
a) Position/status PDMR
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name LifeSafe Holdings plc
b) LEI 2138004KSXCPNWGSL119
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 Purchase of Subscription Shares
Identification code
ISIN: GB00BP83Y473
b) Nature of the transaction Purchase of ordinary shares of £0.01 each in the Company
c) Price(s) and volume(s) Price No. of shares
10 pence 250,000
d) Aggregated information
- Aggregated volume
- Price 250,000 shares
10 pence
e) Date of the transaction 14 May 2024
f) Place of the transaction XLON, AIM
d)
Aggregated information
- Aggregated volume
- Price
250,000 shares
10 pence
e)
Date of the transaction
14 May 2024
f)
Place of the transaction
XLON, AIM
Notes to Editors
LifeSafe is a fire safety technology business that develops eco-friendly,
novel and innovative fire extinguishing and prevention fluids and life-saving
fire safety products. LifeSafe has developed a market disrupting range of
eco-friendly fire safety protection products; a new patent-pending Thermal
Runaway Fluid to combat lithium battery fires by permanently extinguishing and
preventing re-ignition, and the StaySafe All-in-1, a handheld eco-friendly and
fully recyclable extinguisher which is verified to extinguish ten different
types of fire and is the number one selling fire extinguisher on Amazon UK.
LifeSafe is successfully creating new markets for the Group in fire safety
through its innovative technologies, products, digital marketing and
multi-channel sales; and is continuing to develop new fluid derivations for
applications in various industrial market sectors.
LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.
For further information please visit: https://www.lifesafeholdingsplc.com
(https://www.lifesafeholdingsplc.com/) .
LinkedIn: https://www.linkedin.com/company/lifesafe-technologies
(https://www.linkedin.com/company/lifesafe-technologies)
Twitter: https://twitter.com/LifesafeT (https://twitter.com/LifesafeT)
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