REG - Sivota PLC - Readmission and Publication of Prospectus

SivotaAnnouncement

22/09/2022 07:00

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RNS Number : 2260A  Sivota PLC  22 September 2022

22 September 2022

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR 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, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN
WHICH IT WOULD BE UNLAWFUL TO DO SO.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION REGARDING SIVOTA PLC.  NOTHING
IN THIS ANNOUNCEMENT OR THE PROSPECTUS CONSTITUTES AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY TERRITORY.

 

SIVOTA PLC

("Sivota," or "the Company")

 

Readmission of the entire issued Ordinary Share capital to the Official List
(by way of a Standard Listing under Chapter 14 of the Listing Rules) and to
trading on the London Stock Exchange's Main Market for listed securities

Prospectus publication and expected date of Readmission

Sivota, the London listed investment vehicle focused on later-stage, Israeli
technology companies, announces that it has today published a prospectus
(the "Prospectus") approved by the FCA in connection with the readmission
of its entire issued ordinary capital (the "Ordinary Shares") to the standard
segment of the Official List of the FCA and to trading on the London Stock
Exchange's Main Market for listed securities ("Readmission").

 

Readmission (including the recommencement of trading in the Ordinary Shares)
is expected to occur at 8.00 a.m. on 26 September 2022.

Background to Readmission

On 7 December 2021, the Company announced that it had entered into non-binding
term sheet (with Apester Limited ("Apester"), an Israeli incorporated business
which operates an innovative digital experience software platform that enables
brands, publishers and e-commerce to create and distribute interactive digital
experiences, in relation to a potential transaction.  The Company's shares
were suspended pending (i) completion of the transaction which would be a
reverse takeover for the purposes of the Listing Rules and (ii) publication of
a prospectus in relation to its enlarged group.

On 13 May 2022, the Company announced the acquisition of a majority stake in
Apester Ltd (the "Acquisition"). Under the terms of the Acquisition
agreement, the Company was issued Preferred Seed Shares in the capital of
Apester for an aggregate price of US $12.0 million reflecting pre-money
valuation of Apester of $16.0 million on a fully diluted basis.  The cash
consideration for the Acquisition was raised through a $14.2 million (gross)
placing and direct subscription of 11,500,000 new ordinary shares of one pence
each in the Company at £1.00 a share from existing and new investors in
Sivota. The Prospectus relating to the Company and its enlarged group has
therefore been published for the purposes of Readmission.

 

Prospectus availability

A copy of the Prospectus will be available on the Company's website at
https://sivotacapital.com/
(https://advancedadvt.com/investors/shareholder-documents/2022/) . Neither
the content of the Company's website, nor the content on any website
accessible from hyperlinks on its website for any other website, is
incorporated into, or forms part of, this announcement nor, unless previously
published by means of a recognised information service, should any such
content be relied upon in reaching a decision as to whether or not to acquire,
continue to hold, or dispose of, securities in the Company.

Background to the Acquisition

Apester is a digital experience software platform that enables brands to
engage and understand customers across all digital media channels, in turn
increasing lead generation, brand uplift, conversion and sales for its
customers.

Developed over seven years and with c. $36 million invested in its technology
prior to the Acquisition, Apester employs 35 people worldwide, generated
revenues of $9.2 million in 2021 (2020: $7.3 million), and services c. 143
global customers including renowned brands such as CNN, RollingStone, The
Independent, IKEA, Australian Football League and more.

Apester facilitates businesses to better understand their customers across all
digital channels including websites, apps and social media. Its platform
provides tools to create a range of personalised interactive experiences and
applications, including customer surveys, mobile landing pages, onboarding
forms, interactive videos, polls, quizzes, custom applications and web
stories.

Apester's suite of software applications also includes a Data Management
Platform that allows customers to collect, store and 'own' Zero Party and
First-Party engagement data generated from experiences and applications
created on Apester while adhering to compliance and privacy regulations. The
platform's analytics help to create valuable insight into customer trends,
sentiment and preferences, enabling brands and publishers to better understand
their customers and to accelerate their business performance.

The Digital Experience Platform (DXP) market size is projected to reach $43.43
billion by 2028, growing at a CAGR of 13.4%1 from 2021 to 2028. This growth is
underpinned by key trends including the acceleration of the digital economy as
a result of Covid-19 and customers increasingly wanting to maximise engagement
to deliver meaningful ROI. Apester's self-serve, scalable and
customer-friendly platform is well-placed to capitalise on this significant
market growth.

Sivota will focus on the following key growth priorities:

·    Market focus and client segmentation: concentrate on publishers and
small- to medium-sized brands/e-commerce businesses; and identify potential
customers with business cases similar to proven case studies

·    Enhance self-serve platform: continued development of the technology

·    Business model: shift focus from usage-based model to a SaaS business

·    Financial model management: setting new financial plans and KPIs;
tight control over ROI, cash flow and models

·    Operational processes: optimise delivery processes to improve margins
with existing clients and scale capabilities

 

Total voting rights

Following Readmission the total issued share capital of the Company will be
12,585,000 Ordinary Shares. There are no Ordinary Shares held in treasury.
Therefore, following Readmission, this figure of 12,585,000 should be used by
shareholders as the denominator for the calculation by which they determine if
they are required to notify their interest in, or a change to their interest
in, the Company under the Disclosure Requirements and Transparency Rules of
the FCA.

1
https://www.prnewswire.com/news-releases/digital-experience-platform-market-size-worth--43-43-billion-globally-by-2028-at-13-4-cagr-verified-market-research-301432876.html
(https://protect-eu.mimecast.com/s/xFbKC76v4hVOzj9H8mU06)

 

For further information, please visit www.sivotacapital.com or contact:

 Sivota PLC                                 via Vigo Consulting

 Tim Weller, Non-Executive Chairman

 Ziv Ben-Barouch, Chief Executive Officer

 Canaccord Genuity Limited                  + 44 (0) 20 7523 8000

 Alex Aylen - Head of Equities

 Vigo Consulting                            + 44 (0)20 7390 0230

 Jeremy Garcia

 

 

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