REG - Water Intelligence - Issue of new shares in respect of Share Options

Water IntelligenceAnnouncement

16/11/2021 12:25

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RNS Number : 5617S  Water Intelligence PLC  16 November 2021

16 November 2021

 

Water Intelligence plc

("Water Intelligence" or the "Company")

 

Issue of new shares in respect of Share Options

 

Water Intelligence plc (AIM: WATR.L), a leading multinational provider of
non-invasive leak detection and remediation services for both potable and
non-potable water, announced on 12 November 2021 that it has raised £12.2m by
way of a placing of 1,016,667 new ordinary shares of 1 penny each (the
"Placing Shares") at 1,200 pence per share. The Company confirms that the
Placing Shares are expected to be admitted to trading on AIM ("Admission") at
8.00am on 17 November 2021.

 

In addition, the Company announced that a franchisee had requested to exercise
their options over a further 25,000 new ordinary shares of 1 penny each (the
"Option Shares") and that the Option Shares were to be sold on essentially the
same terms as the Placing Shares, for settlement on 17 November 2021, subject
to Admission (together with the Placing, the "Transaction").

 

As part of the Transaction, the Company now announces that both the exercise
of the options and sale of the Option Shares has been cancelled and that the
Company will instead issue and allot a further 25,000 new ordinary shares
("New Ordinary Shares") to be sold alongside the Placing Shares, the
consideration for which will be paid to the holder of the options in lieu of
the issue of the Option Shares. It is anticipated that the New Ordinary Shares
will be admitted to trading on AIM at the same time as the Placing Shares,
being 8.00 a.m. on 17 November 2021, with settlement also on 17 November 2021.
As a result of this transaction, the franchisee has agreed that their option
over 25,000 shares has also been voided.

 

Total Voting Rights

 

As previously stated upon Admission, the issued share capital of the Company
will be 19,447,688 shares of 1 penny each ("Ordinary Shares"), divided into
17,367,688 Ordinary Shares (of which 36,500 Ordinary Shares will be held by
the Company in treasury) admitted to trading on AIM and which entitle the
holder to 1 vote per ordinary share; and 2,080,000 B ordinary shares of 1
penny each which are not admitted to trading on AIM but which otherwise rank
pari passu with the Ordinary Shares (save that they may not participate in any
distribution or return of capital until they are fully paid).

 

Accordingly, the Company's total voting rights following Admission will be
19,411,188 shares. This total voting rights number may be used by shareholders
at Admission as the denominator for the calculations by which they will
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.

 

The Placing Shares and the New Ordinary Shares, when issued, will be fully
paid and will rank pari passu in all respects with the existing ordinary
shares, including the right to receive all dividends and other distributions
declared, made or paid after the date of issue.

 

Enquiries

 

 Water Intelligence plc
 Patrick DeSouza, Executive Chairman          Tel: +1 203 654 5426

 WH Ireland Limited - NOMAD and Joint Broker  Tel: +44 (0) 207 220 1666
 Adrian Hadden

 Ben Good

 RBC Capital Markets - Joint Broker
 Jill Li                                      Tel: +44 (0) 207 653 4000

 Elizabeth Evans

 Max Avison

 Dowgate Capital Limited - Joint Broker       Tel: +44 (0) 203 903 7715
 Stephen Norcross

 Russell Cook

 Nicholas Chambers

 

Notes to Editors

 

About Water Intelligence

 

Water Intelligence plc (AIM: WATR.L) is a leading multinational provider of
precision, minimally-invasive leak detection and remediation solutions for
both potable and non-potable water.

 

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