REG - LifeSafe Holdings - Trading Update & Invoice Financing Facility

LifeSafe HoldingsAnnouncement

31/03/2023 07:00

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RNS Number : 8420U  LifeSafe Holdings PLC  31 March 2023

 

 For immediate release  31 March 2023

 

 

LifeSafe Holdings plc

('LifeSafe', the 'Group' or the 'Company')

 

Trading Update

New invoice financing facility

 

LifeSafe (AIM:LIFS), a fire safety technology business with innovative fire
extinguishing fluid and fire safety products, is pleased to report that sales
growth has continued to exceed the Board's expectations in the current
financial year commencing 1 January 2023, particularly in the United States.

 

In order to more easily manage its ensuing working capital requirements the
Group has therefore entered into a non-revolving, £250,000 invoice finance
facility in case it is required, which is utilisable over an initial term of
six months.  The facility does not bear interest but attracts a fee of
£18,750 payable equally over the initial term.  Each drawdown is repayable
over the six months following drawdown, with the first instalment paid at the
time of the first drawdown.  The facility is not currently being utilised.

 

Commenting on the Trading Update, Dominic Berger, Chairman of LifeSafe, said:
"We are delighted with the Group's continuing strong sales growth,
particularly in our key US market.  The new invoice facility announced today
will enable us to meet that growing demand more effectively.  We look forward
to providing more detail in relation to our current trading and outlook when
we issue our FY22 results next month."

 

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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.

 

The person responsible for arranging the release of this announcement on
behalf of the Company is Mike Stilwell, Chief Financial Officer of the
Company.

 

For further enquiries:

 

 LifeSafe Holdings plc                                Via Buchanan
 Dominic Berger, Chairman                             www.lifesafeholdingsplc.com (http://www.lifesafeholdingsplc.com)
 Neil Smith, CEO
 Mike Stilwell, CFO

 WH Ireland Limited (Nominated Adviser & Broker)      Tel: +44 (0) 20 7220 1666
 Chris Fielding
 Darshan Patel

 Buchanan (Financial Communications)                  Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham                                LifeSafe@buchanan.uk.com (mailto:LifeSafe@buchanan.uk.com)
 Jack Devoy
 George Cleary

 

 

Notes to Editors

 

LifeSafe is a fire safety technology business that develops eco-friendly,
novel and innovative fire extinguishing fluids with a range of life-saving
fire safety products.  Through its highly experienced management team,
LifeSafe is seeking to create new markets for the Group in fire safety through
new technologies, digital marketing and multi-channel sales.

 

LifeSafe has developed what the Directors believe to be a market disrupting
range of eco-friendly fire safety protection products including, launched in
December 2022, a new Thermal Runaway Fluid to combat thermal runaway in
lithium battery fires by permanently extinguishing and preventing the
re-ignition of lithium fires.  This is an evolution of the Group's core
FER1000 extinguishing fluid, for which the Group has been granted a patent in
the UK, which has been developed by LifeSafe to extinguish five different
types of fire: electrical, paper, textiles, cooking oil, and petrol and
diesel.

 

The Group's best-selling product using this extinguishing fluid is the
StaySafe 5-in-1 fire extinguisher.  It was launched on Amazon Prime in the UK
in August 2021 and subsequently became Amazon Prime's top-selling fire
extinguisher in the UK in the same month.  The StaySafe 5-in-1 and the
PanSafe pan fire extinguisher were launched in Screwfix in Spring 2022.

 

LifeSafe is continuing to develop new fluid derivations for the industrial
market.

 

LifeSafe was admitted to trading on AIM in July 2022 with the ticker LIFS.L.
For additional 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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