Arria NLG PLC Listing and fundraising update (8015A)
June 10 2016 - 2:00AM
UK Regulatory
TIDMNLG
RNS Number : 8015A
Arria NLG PLC
10 June 2016
10 June 2016
Arria NLG plc
("Arria NLG" or the "Company")
Listing and fundraising update
Arria NLG (AIM: NLG.L), a technology leader in Natural Language
Generation ("NLG"), is pleased to provide an update on its recent
fundraising activities and the Company's proposed listings in New
Zealand and Australia.
Listing on the New Zealand Stock Exchange and the Australian
Securities Exchange
On 30 June 2015 the Company announced a fund raising of GBP3.75
million by way of the issue of convertible loan notes (the "Loan
Notes") and unlisted B warrants (the "B Warrants"). In this
announcement the board of the Company (the "Board") stated its
intention of exploring other sources of finance, including
undertaking a public offering of shares in conjunction with a
listing on the New Zealand Stock Exchange (the "NZX").
The Company is well advanced in preparing for the NZX listing as
well as a listing on the Australian Securities Exchange (the "ASX")
and an associated fundraising. In connection with these listings
the Company intends to maintain a listing in the United Kingdom and
the Board is considering the most suitable structure for this.
A further announcement will be made in the coming weeks with
regards to the likely timing and structure of the transaction.
Fundraising update
The Company today announces that it has issued a further
GBP262,000 of Loan Notes with B Warrants attached to existing
investors in the Company. The Loan Notes are convertible to the
Company's ordinary shares at 40p per ordinary share (exercisable up
to 31 October 2019) and the B Warrants are to subscribe for new
ordinary shares in the Company (exercisable up to 11 June 2019), at
12p per new ordinary share.
The proceeds of the issue of Loan Notes will be applied to the
Company's general short term working capital requirements.
Over the last 12 months the Company has received a total of
GBP6.319 million in funding, which is comprised of the
following:
-- GBP4.948 million by way of the issue of the Loan Notes with B
Warrants attached, including the issue of GBP262,000 of Loan Notes
set out above; and
-- GBP1.371 million of cash proceeds received to date from the
GBP6.0 million fundraising with Lanstead Capital L.P. ("Lanstead"),
by way of a subscription for 18,750,000 ordinary shares at a
subscription price of GBP0.32 per share by Lanstead (the
"Subscription"). The Subscription was announced on 15 October 2015.
As envisaged under the agreements with Lanstead, 15% of the gross
proceeds of the Subscription, being GBP900,000, were retained by
the Company. The balance of the proceeds of the Subscription were
invested by the Company in two sharing agreements with Lanstead,
allowing the Company to retain much of the economic interest in the
Subscription shares. Having concluded the first four settlement
tranches of the 18 under the two sharing agreements, the Company
has received a further GBP471,000 relating to the Lanstead
placement.
As part of the listings on the NZX and the ASX the Company plans
to raise additional funding and the Company has commenced
discussions with a number of potential investors on this matter.
Should the listings and the associated fund raising not complete
before the end of the summer the Company will need to seek
alternative sources of finance in the short term. The Company has
plans in place to raise capital in the short term as needed.
Notice of interim results
The Company advises that its interim results for the six months
ended 31 March 2016 are scheduled to be announced on 15 June
2016.
For further information, please visit www.arria.com or
contact:
Arria NLG plc Tel +44 (0)20 7100 4540
Stuart Rogers
Chairman and Chief Executive
----------------------------- ---------------------------------------
Allenby Capital Tel: +44 (0)20 3328 5656
Nominated Adviser & Joint
Broker
Nick Naylor
Jeremy Porter
James Reeve
----------------------------- ---------------------------------------
MSL Capital Markets Tel: +64 (0)4 472 2716
Lead Manager
Andrew McDouall
Justine Dunnett
Peter Lynds
----------------------------- ---------------------------------------
Stockdale Securities Tel: +44 (0)20 7601 6100
Joint Broker
Antonio Bossi
Robert Finlay
----------------------------- ---------------------------------------
IFC Advisory Tel: +44 (0)20 3053 8671
Financial PR and IR tim.metcalfe@investor-focus.co.uk
Tim Metcalfe graham.herring@investor-focus.co.uk
Graham Herring heather.armstrong@investor-focus.co.uk
Heather Armstrong
----------------------------- ---------------------------------------
Ruder Finn Tel: +1 541-326-5847
PR (USA) Tel: +1 203-246-1304
Scott Beaver (West Coast)
Brianna Mulligan (East
Coast)
----------------------------- ---------------------------------------
Arria NLG
Arria NLG's core product is known as the Arria NLG Platform, a
form of artificial intelligence software specialised in extracting
information from complex data sources and communicating that
information in natural language (i.e. as if written by a human).
The scientific foundation for the Arria NLG Platform is based on
more than 30 years of research and development by the founders of
Arria Data2Text Limited at the University of Aberdeen. For
additional information, visit www.arria.com. Follow Arria NLG on
Twitter, LinkedIn, Google+ and YouTube.
This information is provided by RNS
The company news service from the London Stock Exchange
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