Location Sciences Group PLC Result of Placing (9717N)
September 27 2019 - 6:18AM
UK Regulatory
TIDMLSAI
RNS Number : 9717N
Location Sciences Group PLC
27 September 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE
RELEASE
27 September 2019
Location Sciences Group PLC
("Location Sciences" or the "Company")
Result of Placing
Location Sciences (AIM: LSAI), the leading location data
verification and analytics company, announces that, following its
announcements released yesterday ("Announcements"), it has
successfully placed an aggregate of 27,246,900 new Ordinary Shares
at a price of 2.25 pence per share with existing and new investors,
raising gross proceeds of approximately GBP0.6 million. The Placing
was conducted by way of an accelerated bookbuild process. Shore
Capital acted as sole broker on the Placing.
Application has been made for admission of the Placing Shares to
trading on AIM and dealings are expected to commence at 8.00 a.m.
on 4 October 2019 ("Admission"). The Placing Shares, when issued,
will rank pari passu with the Existing Ordinary Shares.
On Admission, the Company will have 370,497,894 Ordinary Shares
in issue and admitted to trading on AIM. This figure 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 Company under the Financial
Conduct Authority's Disclosure Guidance and Transparency Rules.
Defined terms used in this announcement will have the meaning
(unless the context otherwise requires) as set out in the
Announcements.
This announcement contains inside information within the meaning
of Article 7 of the Market Abuse Regulation (EU) No 596/2014. With
the publication of this announcement, this information is now
considered to be in the public domain.
For further information please contact:
Location Sciences Group PLC via Milk and Honey PR
Mark Slade, Chief Executive
Officer
David Rae, Chief Financial
Officer
Shore Capital (Nominated Adviser Tel: +44 (0)20 7408 4090
and Broker)
Tom Griffiths/David Coaten
Andy Crossley
Milk & Honey PR Tel: +44 (0)20 3637 7310
Kirsty Leighton
Jessica Ballinger
About Location Sciences Group PLC:
Location Sciences is the pre-eminent global location
verification provider to the $160 billion digital advertising
industry. Working in partnership with brands, media agencies and
suppliers to reduce ad-wastage and improve the effectiveness of
location-based advertising campaigns.
The digital advertising market place remains unregulated and
un-monitored, with an estimated $19 billion wasted on ad-fraud in
2018. Location Sciences has developed Verify, the world's first
independent location verification product. Utilising sophisticated
machine learning and pattern recognition technologies Verify
detects location ad-fraud and shines a light on location data
inaccuracy with the aim of bringing back integrity, transparency
and trust to the market place.
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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