REG - Trackwise Designs - Result of Open Offer, General Meeting and TVR

Trackwise DesignsAnnouncement

05/01/2022 11:10

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RNS Number : 5206X  Trackwise Designs PLC  05 January 2022

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT
JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. FURTHER
DETAILS OF THE FUNDRAISING ARE SET OUT BELOW.

 

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN
OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR
OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF TRACKWISE DESIGNS PLC.

 

Terms not otherwise defined herein shall have the meanings given in the
section entitled "Definitions" IN THE COMPANY'S ANNOUNCEMENT OF 16 DECEMBER
2021.

 

 

TRACKWISE DESIGNS PLC

("Trackwise", the "Company" or the "Group")

 

Result of Open Offer and General Meeting

and Total Voting Rights

 

 

The Board of Trackwise Designs plc, a provider of specialist products using
printed circuit technology, is pleased to announce that it has received valid
acceptances from Qualifying Shareholders in respect of 3,065,069 Open Offer
Shares, including applications for 2,648,010 Open Offer Shares under the
Excess Application Facility. This represents approximately 245.1 per cent. of
the 1,250,336 New Ordinary Shares available under the Open Offer. Following
scaling back, the maximum amount of Open Offer Shares, being 1,250,336, will
be issued to Qualifying Shareholders who have validly applied for the Open
Offer Shares.

 

The Company has therefore raised, in aggregate, approximately £7.0 million
(before expenses) through the Placing, Open Offer and Subscription.

 

The Board is also pleased to announce that at the General Meeting held earlier
today, all Resolutions were duly passed by Shareholders.

 

Application has been made for the 7,329,051 New Ordinary Shares (being the
Second Tranche Shares which comprise 6,068,583 Placing Shares, 10,132
Subscription Shares and the 1,250,336 Open Offer Shares) to be admitted to
trading on AIM. It is expected that Second Tranche Admission will occur and
dealings in the New Ordinary Shares will commence at 8.00 a.m. on 6 January
2022.

 

Following Second Tranche Admission, the total number of Ordinary Shares in
issue will be 37,508,065. There are no Ordinary Shares held in treasury.
Accordingly, the total number of voting rights in the Company on Second
Tranche Admission will be 37,508,065. This figure may be used by Shareholders
as the denominator for the calculations to determine if they are required to
notify their interest in, or a change to their interest in, the Company under
the FCA's Disclosure Guidance and Transparency Rules.

 

 

Philip Johnston, CEO of Trackwise, commented:

 

"We appreciate and recognise the continuing support shown by existing
investors and welcome new shareholders to Trackwise. This Open Offer has
allowed those shareholders not participating in the earlier Placing and
Subscription to continue to invest in Trackwise and we are delighted with the
interest shown. The combined proceeds of £7m from these fundraises will
enable the delivery of a step change in our IHT commercial proposition."

 

Enquiries:

 

 Trackwise Designs plc                                        +44(0)16 8429 9930
 Philip Johnston, CEO                                         www.trackwise.co.uk (http://www.trackwise.co.uk)
 Mark Hodgkins, CFO

 finnCap Ltd                                                  +44(0)20 7220 0500
 NOMAD and Broker
 Ed Frisby / Kate Bannatyne / Tim Harper - Corporate Finance

 Andrew Burdis / Barney Hayward - ECM

 Alma PR                                                      +44(0)20 3405 0205
 Financial PR and IR
 Caroline Forde / Josh Royston / David Ison

 

Notes to editors

 

 

Trackwise is a UK-based manufacturer of specialist products using printed
circuit technology.

 

The full suite includes: Improved Harness Technology™ ("IHT") and Advanced
PCBs - Microwave and Radio Frequency ("RF"), Short Flex, Flex Rigid and Rigid
Multilayer products.

 

IHT uses a proprietary, patented process that Trackwise has developed to
manufacture multilayer flexible printed circuits of unlimited length. While
the technology has many applications, the directors expect that one of its
primary uses will be to replace traditional wire harness in a variety of
industries.

 

The Company manufactures on two sites, located in Tewkesbury and Stevenage
(following the acquisition of Stevenage Circuits Ltd in April 2020). It serves
customers in Europe and North America. The Company has acquired a third site
in Stonehouse Gloucestershire initially for its EV programme.

 

Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker
TWD. For additional information please visit www.trackwise.co.uk
(http://www.trackwise.co.uk)

 

 

Pursuant to the split First Tranche and Second Tranche Admissions, the
participating Directors will complete their Second Tranche Admission
participation.

 

 1   Details of the person discharging managerial responsibilities ("PDMR") /
     person closely associated ("PCA")
 a)  Name                                                         Philip Johnston
 2.  Reason for the Notification
 a)  Position/status                                              Chief Executive Officer
 b)  Initial notification/Amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Trackwise Designs plc
 b)  LEI                                                          549300KQIX5EWTJMFK75
 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  Ordinary Shares of 4 pence each
     Identification code                                          GB00BFYT9999
 b)  Nature of the transaction                                    Purchase of Ordinary Shares
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  80p       40,525
 d)  Aggregated information:                                      See 4c) above

·         Aggregated volume

 

·         Price
 e)  Date of the transaction                                      6 January 2022
 f)  Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

·         Aggregated volume

 

·         Price

See 4c) above

e)

Date of the transaction

6 January 2022

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 

 1   Details of the person discharging managerial responsibilities ("PDMR") /
     person closely associated ("PCA")
 a)  Name                                                         Mark Hodgkins
 2.  Reason for the Notification
 a)  Position/status                                              Chief Financial Officer
 b)  Initial notification/Amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Trackwise Designs plc
 b)  LEI                                                          549300KQIX5EWTJMFK75
 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  Ordinary Shares of 4 pence each
     Identification code                                          GB00BFYT9999
 b)  Nature of the transaction                                    Purchase of Ordinary Shares
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  80p       25,328
 d)  Aggregated information:                                      See 4c) above

·         Aggregated volume

 

·         Price
 e)  Date of the transaction                                      6 January 2022
 f)  Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

·         Aggregated volume

 

·         Price

See 4c) above

e)

Date of the transaction

6 January 2022

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 1   Details of the person discharging managerial responsibilities ("PDMR") /
     person closely associated ("PCA")
 a)  Name                                                         Susan McErlain
 2.  Reason for the Notification
 a)  Position/status                                              Non-Executive Director
 b)  Initial notification/Amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Trackwise Designs plc
 b)  LEI                                                          549300KQIX5EWTJMFK75
 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  Ordinary Shares of 4 pence each
     Identification code                                          GB00BFYT9999
 b)  Nature of the transaction                                    Purchase of Ordinary Shares
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  80p       5,066
 d)  Aggregated information:                                      See 4c) above

·         Aggregated volume

 

·         Price
 e)  Date of the transaction                                      6 January 2022
 f)  Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

·         Aggregated volume

 

·         Price

See 4c) above

e)

Date of the transaction

6 January 2022

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

 

 1   Details of the person discharging managerial responsibilities ("PDMR") /
     person closely associated ("PCA")
 a)  Name                                                         Charles Cattaneo
 2.  Reason for the Notification
 a)  Position/status                                              Non-Executive Director
 b)  Initial notification/Amendment                               Initial notification
 3.  Details of the issuer, emission allowance market participant, auction
     platform, auctioneer or auction monitor
 a)  Name                                                         Trackwise Designs plc
 b)  LEI                                                          549300KQIX5EWTJMFK75
 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  Ordinary Shares of 4 pence each
     Identification code                                          GB00BFYT9999
 b)  Nature of the transaction                                    Purchase of Ordinary Shares
 c)  Price(s) and volume(s)                                       Price(s)  Volume(s)
                                                                  80p       10,132
 d)  Aggregated information:                                      See 4c) above

·         Aggregated volume

 

·         Price
 e)  Date of the transaction                                      6 January 2022
 f)  Place of the transaction                                     London Stock Exchange, AIM Market (XLON)

d)

Aggregated information:

·         Aggregated volume

 

·         Price

See 4c) above

e)

Date of the transaction

6 January 2022

f)

Place of the transaction

London Stock Exchange, AIM Market (XLON)

 

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