REG - Windar Photonics PLC - Update

Windar PhotonicsAnnouncement

28/11/2022 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221128:nRSb7001Ha&default-theme=true

RNS Number : 7001H  Windar Photonics PLC  28 November 2022

Windar Photonics plc

 

("Windar" or the "Company")

 

Update

 

Windar Photonics plc (AIM: WPHO), the technology group that has developed a
cost efficient and innovative LiDAR wind sensor for use on electricity
generating wind turbines, is pleased to confirm that, following the
publication of the Company's final results for the year ended 31 December 2021
(the "2021 Accounts") and the interim accounts for the six months to 30 June
2022 (the "Interim Accounts") on 25 November 2022, the suspension of the
Company's shares from trading on AIM has been lifted.

 

Further, following the approval of Shareholders at the General Meeting of the
Company held on 25 November 2022, the Company has conditionally issued
12,160,920 new Ordinary Shares (the "Placing Shares") at a price of 15 pence
per Placing Share (the "Issue Price"). The Placing Shares will be issued
credited as fully paid and will rank pari passu in all respects with the
Company's existing Ordinary Shares.

 

Application has been made to the London Stock Exchange for the Placing Shares
to be admitted to trading on AIM ("Admission"). It is expected that Admission
will become effective and that trading will commence at 8.00 a.m. on 1
December 2022. The total issued share capital of the Company, as increased by
the Placing Shares, immediately following Admission will be 66,756,444
Ordinary Shares.

 

As previously announced, Johan Blach Petersen, Jorgen Korsgaard Jensen and
Paul Hodges (each Directors of the Company) have indicated their intention to
subscribe for 413,333 Placing Shares, 666,667 Placing Shares and 400,000
Placing Shares respectively at the Issue Price as soon as they are able and
are no longer considered to be in a MAR Closed Period. Further announcements
will be made in due course.

Jørgen Korsgaard Jensen, Chief Executive Officer of Windar, commented:

"I am very pleased to have completed the capital raise at an issue price of
15p per share, and I would like to thank existing and new Shareholders for
their support. The proceeds of the capital raise will be put to use for
working capital purposes and will ensure the Company has a strong financial
position to facilitate the delivery of the order book to customers, which in
2022 has been further enhanced by the global increase in cost of energy,
whereby the value of our proposition and our product offerings increases. The
main benefit from the product offerings is to increase power generation from
new and existing wind turbines, and at the same time, positively contribute to
a more worldwide sustainable green power generation transformation in the
future."

 

For further information, please contact:

 

 Windar Photonics plc
 Jørgen Korsgaard Jensen, CEO                Tel:  +45 24234930

 Cenkos Securities plc (Nomad & Broker)
 Neil McDonald / Pete Lynch                  Tel:  0131 220 6939

 

Notes to Editors:

 

Windar Photonics is a technology group that develops cost-efficient and
innovative 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.

 

http://investor.windarphotonics.com (http://investor.windarphotonics.com)

 

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  IOEGRBDBXXDDGDI