For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240412:nRSL5064Ka&default-theme=true
RNS Number : 5064K Windar Photonics PLC 12 April 2024
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF
SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN
OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE
ACQUIRE ANY SECURITIES IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR
SOLICITATION WOULD BE UNLAWFUL, INCLUDING THE UNITED STATES, CANADA,
AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA. NEITHER THIS ANNOUNCEMENT
NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED UPON IN
CONNECTION WITH, ANY SUCH OFFER, SOLICITATION OR COMMITMENT WHATSOEVER IN ANY
OF THOSE JURISDICTIONS.
Windar Photonics plc
("Windar" or the "Company")
Result of Oversubscribed Placing and Share Subscription
Windar (AIM:WPHO), a technology group that has developed a LiDAR wind sensor
and software suite designed to efficiently and cost effectively increase the
power output of electricity generating wind turbines, announces that,
further to its announcement of 3.44 p.m today, it has successfully raised net
proceeds of £4,000,000 with WH Ireland acting as sole Bookrunner to the
Placing.
The Placing has raised, in aggregate, gross proceeds of approximately
£4,000,000 through the placing of 11,431,426 new Ordinary Shares ("Placing
Shares") to certain institutional and other investors at a price of 35 pence
per share.
In addition, the receiving agent appointed in connection with a direct share
subscription with the Company ("Share Subscription") has received application
forms in respect of 1,200,000 new Ordinary Shares ("Subscription Shares") at a
price of 35 pence per share to raise approximately £420,000 million, subject
to the terms and conditions set out in the application forms.
The Placing and Subscription Shares will be issued on or around 17 April 2024.
The Placing and Subscription Shares will be issued fully paid and will rank
pari passu in all respects with the Company's existing Ordinary Shares.
The net proceeds of the Placing and Subscription received by the Company will
be used to:
· Fund the increased working capital necessary for the Company to
fulfil recent contract wins and to meet its growth targets by taking advantage
of the opportunity afforded through potential future demand for Windar WindEye
/ WindTimizer systems;
· Continue research and development, to take advantage of physical
product and software / service related opportunities;
· Develop the Company's sales and marketing capability and activity in
order to deliver the growth opportunity; and
· Strengthen the Company's balance sheet, pivoting the Company into a
stronger operating position.
Director and PDMR participation in the Placing
David Lis, the Non-Executive Chairman of the Company, has agreed to subscribe
for 1,428,571 New Ordinary Shares in the Placing. Immediately following
Admission, the total number of Ordinary Shares held by David Lis would be
1,826,071 representing 2.24 per cent. of the Enlarged Share Capital.
Gavin Manson, a Non-Executive Director of the Company, has agreed to subscribe
for 428,571 New Ordinary Shares in the Placing. Immediately following
Admission, the total number of Ordinary Shares held by Gavin Manson would be
428,571 representing 0.52 per cent. of the Enlarged Share Capital.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for admission of the
Placing and Subscription Shares to trading on AIM (the "Admission"). It is
expected that admission will become effective and dealings in the Placing and
Subscription Shares will commence at 8.00 a.m. on or around 17 April 2024.
Admission of the Placing Shares is conditional, inter alia, upon the Admission
becoming effective and the Placing Agreement not having been terminated and
becoming unconditional in respect of the Placing Shares. Admission of the
Subscription Shares is conditional upon receipt of subscription letter(s) by
the Company and upon Admission becoming effective.
Following Admission, the total number of Ordinary Shares in the capital of the
Company in issue will be 81,287,870 Ordinary Shares with voting rights. This
figure may be used by shareholders in the Company 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's share capital.
Capitalised terms used but not defined in this announcement have the meanings
given to them in the Company's announcement released this afternoon in respect
of the Placing unless the context provides otherwise.
For further enquiries:
Windar Photonics plc
Jørgen Korsgaard Jensen, CEO Tel: +45
24234930
WH Ireland Limited (Sole Bookrunner, Nomad & Broker)
Hugh Morgan / James Bavister / Isaac Hooper Tel: +44 20 72201666
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name David Lis
2 Reason for the notification
a) Position/status Chairman
b) Initial notification /Amendment Initial notification
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Windar Photonics plc
b) LEI 2138003JZZMKJGOOCR02
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 Purchase of Placing Shares
Identification code
ISIN: GB00BTFR4F17
b) Nature of the transaction
c) Price(s) and volume(s) Price No. of shares
35p 1,428,571
d) Aggregated information
- Aggregated volume
- Price 1,428,571
35p
e) Date of the transaction 12 April 2024
f) Place of the transaction AIM
d)
Aggregated information
- Aggregated volume
- Price
1,428,571
35p
e)
Date of the transaction
12 April 2024
f)
Place of the transaction
AIM
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Gavin Manson
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 Windar Photonics Plc
b) LEI 2138003JZZMKJGOOCR02
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 Purchase of Placing Shares
Identification code
ISIN: GB00BTFR4F17
b) Nature of the transaction
c) Price(s) and volume(s) Price No. of shares
35p 428,571
d) Aggregated information
- Aggregated volume
- Price 428,571
35p
e) Date of the transaction 12 April 2024
f) Place of the transaction AIM
d)
Aggregated information
- Aggregated volume
- Price
428,571
35p
e)
Date of the transaction
12 April 2024
f)
Place of the transaction
AIM
About Windar Photonics
Windar Photonics plc is a technology group that has developed Light Detection
and Ranging ("LiDAR") optimisation systems for use on electricity generating
wind turbines. LiDAR wind sensors in general are designed to remotely measure
wind speed and direction.
- Ends -
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END ROIEASLAFLKLEFA