TIDMLWRF
RNS Number : 0649X
LightwaveRF PLC
17 December 2019
17 December 2019
LightwaveRF plc
("LightwaveRF" or the "Company")
Issue of Equity
and
Total Voting Rights
Further to its announcements of 16 August 2019, 20 September
2019, 7 October 2019, 31 October and 28 November 2019
("Announcements"), LightwaveRF (AIM: LWRF), the leading smart homes
solutions provider, announces that application has been made for
944,680 new Ordinary Shares to be admitted to trading on AIM. These
shares, which have been subscribed for at 7.0 pence per share, are
being subscribed for by Committed Capital and other subscribers
including two directors of the Company and form part of, and now
complete, the subscription of the 1,880,931 Deferred Settlement
Shares, details of which were set out in the Company's circular
dated 20 September 2019 (the "Circular"). Admission is expected to
occur at 8.00 a.m. on 18 December 2019 ("Admission").
Participation by the Concert Party
As announced on 2 December 2019, the Concert Party holds, in
aggregate, 46,208,774 Ordinary Shares representing approximately
37.68 per cent. of the Company's issued share capital.
Notwithstanding the announcement of 28 November 2019 which stated
Committed Capital did not intend to subscribe for the balance of
the Deferred Settlement Shares at that time, as a result of funds
becoming available to Committed Capital, and in line with its
statement in that announcement of ongoing support for the Company,
it now intends to subscribe for 393,945 Deferred Settlement Shares
to which it remains entitled. In addition, Steve Harris, a member
of the Concert Party, director of Committed Capital and director of
the Company, will subscribe for 159,500 Deferred Settlement Shares.
As set out below, as a result of these subscriptions, immediately
following Admission, the Concert Party will hold, in aggregate,
46,762,219 Ordinary Shares, representing approximately 37.84 per
cent. of the Enlarged Share Capital.
Member of No. of Deferred Total No. of Percentage of Enlarged
Concert Party Settlement Shares Ordinary Shares Share Capital
being subscribed held immediately
for following Admission
Committed
Capital 393,945(1) 45,696,274 36.98
-------------------- ---------------------- ------------------------
Steve Harris(2) 159,500(3) 159,500 0.13
-------------------- ---------------------- ------------------------
(1) Of these, 287,890 will be legally held by MNL Nominees
Limited, a Committed Capital nominee company, and 106,055 will be
legally held by Mainspring Nominees (8) Limited, a Committed
Capital nominee company
(2) Steve Harris is a director of CCFSL and of Committed
Capital
(3) 106,055 of these Deferred Settlement Shares are being
subscribed for through Mainspring Nominees (8) Limited and the
balance of 53,445 Deferred Settlement Shares are being subscribed
for directly by Steve Harris in lieu of outstanding directors' fees
owed to him
Directors' Participation
The following Directors have subscribed for Deferred Settlement
Shares as follows: -
Name of Director No. of Deferred Total No. of Percentage of Enlarged
Settlement Shares Ordinary Shares Share Capital
being subscribed held immediately
for following Admission
Mike Lord 197,905(1) 1,574,205 1.27
-------------------- --------------------- ------------------------
Steve Harris(2) 159,500(3) 159,500 0.13
-------------------- --------------------- ------------------------
(1) 118,271 of these Deferred Settlement Shares are being
subscribed for by Drol Investments Limited, a company beneficially
owned by Mike Lord's wife, Nicky Lord, in lieu of fees owed to it
and the balance of 79,634 Deferred Settlement Shares are being
subscribed for by Mike Lord in lieu of outstanding directors' fees
owed to him
(2) Steve Harris is a director of CCFSL and of Committed
Capital, therefore the 159,500 Deferred Settlement Shares being
subscribed for by him are included in the total of 553,445 Deferred
Settlement Shares being subscribed for by certain members of the
Concert Party referred to above
(3) 106,055 of these Deferred Settlement Shares are being
subscribed for through Mainspring Nominees (8) Limited and the
balance of 53,445 of these Deferred Settlement Shares are being
subscribed for directly by Steve Harris in lieu of outstanding
directors' fees owed to him
Total Voting Rights
Following Admission, the Company will have 123,583,446 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.
This announcement should be read in conjunction with the
Announcements and the full text of the Circular, copies of which
are available on the Company's website at www.lightwaverf.com.
Capitalised terms in this announcement have the same meaning as
given in the Circular.
For further enquiries please contact:
LightwaveRF plc www.LightwaveRF.com
Jason Elliott, CEO +44 (0) 121 250 3625
Kevin Edwards, CFO
Shore Capital
Tom Griffiths/David Coaten +44 (0) 20 7408 4090
Yellow Jersey PR www.yellowjerseypr.com
Charles Goodwin +44 (0) 7747 788 221
About LightwaveRF
Lightwave is Europe's leading supplier of installed home
automation technology.
Lightwave products offer convenient automation, control and
monitoring of lighting, heating and power via its app, Apple
HomePod, Amazon Alexa or Google Assistant. Lightwave is also
integrated with Samsung SmartThings and EVO protocols from
Honeywell Home by Resideo.
With market leading quality and wireless range, the modular
system enables users to begin with a small number of devices and
grow over time to easily control an entire property.
Devices are retrofittable using existing standard wiring and are
easy to install. Lightwave also recommends a network of approved,
qualified electricians who have been trained by the Company.
In markets across Europe, Lightwave products can be purchased
directly from the Company or from approved stockists, including
Apple, Amazon, ScrewFix and wholesalers, including Rexel.
Lightwave technology may be specified as a pre-installed option
in newly built properties from Berkeley Homes in partnership with
E.ON Home, Urban Splash and Trivselhus.
For further information please visit www.lightwaverf.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
MSCLFFLIFTLRLIA
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