Amiad Water Systems Ltd Results of Open Offer and Subscription and TVR (2986L)
April 29 2020 - 3:51AM
UK Regulatory
TIDMAFS
RNS Number : 2986L
Amiad Water Systems Ltd
29 April 2020
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, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES
AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
For immediate release
29 April 2020
Amiad Water Systems Ltd.
("Amiad" or the "Company")
Results of Open Offer and Subscription and Total Voting
Rights
Further to the Company's announcement of 8 April 2020, Amiad
(AIM: AFS), a leading global producer of water treatment and
filtration solutions, announces that the Open Offer closed for
acceptances at 11.00 a.m. on 28 April 2020 in accordance with its
terms and was significantly oversubscribed.
The Company received valid acceptances from Qualifying
Shareholders in respect of 3,611,958 Open Offer Shares, including
applications for 3,419,087 Open Offer Shares under the Excess
Application Facility. This represents 421.68 per cent. of the Open
Offer Shares available pursuant to the Open Offer and, as a result,
applications made under the Excess Application Facility have been
scaled back and the total number of Open Offer Shares to be
allotted and issued pursuant to the Open Offer will be 856,556.
In accordance with the Subscription Agreement, FIMI has
subscribed for 6,795,618 Ordinary Shares. Following this
transaction, FIMI will hold a total of 12,007,294 Ordinary Shares
representing 39.56% of the Company's issued share capital.
Accordingly, the Company has raised GBP17.6 million (before
expenses) from the Open Offer and Subscription and therefore has
allotted and will issue 7,652,174 new Ordinary Shares. Application
has been made for these new Ordinary Shares to be admitted to
trading on AIM, which is expected to take place at 8.00 a.m. on 1
May 2020.
The new Ordinary Shares (held in uncertificated form) are
expected to be credited to CREST accounts on 1 May 2020 and
definitive share certificates for the new Ordinary Shares (held in
certificated form) are expected to be despatched to shareholders
who hold their Ordinary Shares in certificated form within 14 days
of 1 May 2020.
Total Voting Rights
Following Admission, the Company's issued ordinary share capital
will comprise 30,350,917 Ordinary Shares, of which none are held in
treasury. The figure of 30,350,917 may be used by shareholders 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 voting rights of the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Unless otherwise defined, capitalised terms used in this
announcement shall have the same meanings as defined in the
circular sent to shareholders of the Company on 9 April 2020.
This announcement contains inside information for the purposes
of the Market Abuse Regulation (596/2014/EU). Upon the publication
of this announcement, this inside information is now considered to
be in the public domain and such persons shall therefore cease to
be in possession of inside information. The person responsible for
arranging for the release of this announcement on behalf of the
Company is Dori Ivzori.
Enquiries
Amiad Water Systems Ltd.
Dori Ivzori, Chief Executive
Officer
Avishay Afriat, Chief Financial
Officer +972 4 690 9500
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Stewart Wallace, Ben Maddison +44 20 7710 7600
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Harry Chathli, Claire Norbury,
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About Amiad
Amiad Water Systems (AIM: AFS) is a leading global producer of
automatic, self-cleaning water treatment and filtration products
and systems. Through its engineering skills and ability to
innovate, Amiad provides cost-effective "green" solutions for the
irrigation and industrial purposes. In these markets, its unique
and high-quality products are being integrated into the core of
systems for filtration and water treatment, micro irrigation and
membrane protection, wastewater and potable water treatment,
cooling systems and sea water filtration.
Headquartered in Israel, Amiad provides these solutions through
ten subsidiaries and a comprehensive network of distributors to
customers in more than 80 countries.
For additional information or product details, please visit
www.amiad.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 or visit www.rns.com.
END
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