REG - Light Science Tech. - Result of Fundraising and WRAP Retail Offer

Light Science Technologies HoldingsAnnouncement

18/04/2023 07:00

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RNS Number : 5069W  Light Science Tech. Holdings PLC  18 April 2023

Light Science Technologies Holdings plc

("LSTH" or the "Company")

 

Result of Fundraising and WRAP Retail Offer

 

Light Science Technologies Holdings plc (AIM: LST) announces it has raised
aggregate gross proceeds of £1,588,555 through the issue and proposed issue
of 158,855,500 new Ordinary Shares at a price of 1 penny per share.

 

The Placing raised £1,077,500 through the issue of 107,750,000 Placing
Shares, the Subscription raised £355,000 through the issue of 35,500,000
Subscription Shares (following the scale back(1)), and the WRAP Retail Offer
raised £156,055 through the issue of 15,605,500 WRAP Retail Offer Shares.

 

As detailed in the Company's announcements of 4 and 5 April 2023 the issue of
the Conditional Placing Shares, Subscription Shares and WRAP Retail Offer
Shares are subject to the approval of the Company's shareholders at a General
Meeting, which has been convened for 21 April 2023 and formal notice of which
was sent to shareholders on 5 April 2023.

 

Admission and total voting rights

Application has been made for the 78,250,000 Conditional Placing Shares,
35,500,000 Subscription Shares and 15,605,500 WRAP Retail Offer Shares to be
admitted to trading on AIM which is expected to take effect and dealings to
commence at 8.00 a.m. on or around 24 April 2023 ("Admission").

 

Following Admission, the Company will have 333,005,500 Ordinary Shares in
issue. Since the Company currently holds no shares in treasury, the total
number of voting rights in the Company will therefore be 333,005,500. These
figures may therefore be used by Shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change in their interest in, the share capital of the
Company under the FCA's Disclosure Guidance and Transparency Rules.

 

Notes:

1. As detailed in the Company's announcement of 4 April 2023, at the Company's
discretion, up to £80,000 of applications in the WRAP Retail Offer could be
used to scale back the investment by Intuitive Investments Group plc ("IIG")
of £230,000 in the Subscription.  The Company has agreed to exercise such
scale back, thereby reducing IIG's investment in the Subscription to
£150,000.

 

Unless otherwise defined, capitalised terms used in this announcement have the
same meanings as ascribed to them in the Company's announcement of 4 April
2023 under RNS number 2433V and 5 April 2023 under RNS 5303V.

 

For further information, please contact:

 

 Light Science Technologies Holdings plc                    www.lightsciencetechnologiesholdings.com

                                                          (http://www.lightsciencetechnologiesholdings.com/)

 Simon Deacon, Chief Executive Officer                      via Walbrook PR

 Jim Snooks, Chief Financial Officer

 Andrew Hempsall, Chief Operating Officer

 Strand Hanson Limited (Nominated & Financial Adviser)      Tel: +44 (0) 20 7409 3494

 Ritchie Balmer / James Harris / Rob Patrick

 Oberon Capital (Joint Broker)                              Tel: +44 (0) 203 179 5300
 Mike Seabrook / Adam Pollock / Nick Lovering

 Winterflood Retail Access Platform                         wrap@winterflood.com
 Andrew Stancliffe                                          +44 (0) 203 179 5300

 Turner Pope Investments (TPI) Ltd (Joint Broker)           Tel: +44 (0) 20 3657 0050
 James Pope / Andy Thacker

 Walbrook PR Ltd (Media & Investor Relations)               Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com (mailto:lst@walbrookpr.com)

 Nick Rome / Paul McManus

This Announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

 

About Light Science Technologies Holdings
plc (www.lightsciencetechnologiesholdings.com
(http://www.lightsciencetechnologiesholdings.com/) )

Light Science Technologies Holdings plc is the holding company of the Group's
controlled environment agriculture ("CEA") division, Light Science
Technologies Ltd ("Light Science Technologies"), and its contract electronics
manufacturing ("CEM") division, UK Circuits and Electronics Solutions Limited
("UK Circuits").

 

Controlled Environment Agriculture

Light Science Technologies was founded in 2019 and is the Company's grow
lights and sensor technology business, providing bespoke recipes and
technologies tailored to customers' needs, with key targets including indoor,
vertical, glasshouses, polytunnels and medicinal farming markets. The
all-in-one CEA solution will include analysing customers' crop growing
requirements to provide bespoke, low-energy and sustainable equipment.

 

Market drivers include: food and water shortages in many parts of the world,
growing global population, UK and other government policy encouraging
sustainable and efficient growth methods, increased scrutiny of the effect of
food production on climate change and the continuing transition away from
processed foods.

 

sensorGROW

sensorGROW was launched in June 2022 and its technology will enable farmers to
monitor the following key air zone growing factors in real-time: carbon
dioxide levels, humidity, light, oxygen - and in the future: air speed, plant
disease, soil, temperature and water pH levels. By monitoring these key
growing factors, farmers can save money through better management of
resources: water, nutrients, fertilisers and energy - while increasing yields
and producing healthier crops.

 

nurturGROW

nurturGROW is a sustainable grow lighting product range, offering an
innovative, high-performance and cost-effective solution for indoor farming,
covering greenhouses, vertical farming, polytunnels and medicinal plants.

 

Created with four core component parts, the nurturGROW range is made of high
quality, durable materials to give growers the ideal balance between strength
and optimal performance, minimising the amount of materials needed to
drastically cut down on waste and reduce carbon footprint.

 

Contract Electronics Manufacturing

UK Circuits is the Company's CEM focussed division, profit making with strong
revenues. The Group designs, procures, and manufactures high-quality CEM
products, specialising in Printed Circuit Boards, which are used in a range of
sectors including audio, automotive, electronics, gas detection, lighting,
pest control, telecommunications and, more recently, the CEA market.

 

 

 

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