Quixant PLC Completed Secondary Placing (4068E)
April 09 2014 - 8:52AM
UK Regulatory
TIDMQXT
RNS Number : 4068E
Quixant PLC
09 April 2014
9 April 2014
Quixant Plc
("Quixant" or the "Company")
GBP25m placing of 17,857,143 existing Ordinary Shares
Quixant (AIM:QXT) a leading provider of specialised computing
platforms for casino gaming machine applications, is pleased to
announce that in order to satisfy market demand and broaden the
institutional shareholder base of the Company, finnCap, as the
Company's broker, have conducted an oversubscribed placing of
17,857,143 existing ordinary shares of 0.01p in the Company (the
"Placing Shares" and the "Placing") with new and existing
institutional investors.
The Placing Shares have been sold on behalf of certain directors
of the Company and their connected persons (the "Director Vendors")
and certain other founder shareholders of the Company (the "Vendor
Shareholders"). The Placing Shares were sold at a price of 140
pence per share and represent, in aggregate, 27.6 per cent. of the
issued share capital of Quixant.
The Director Vendors have been released by finnCap from the
terms of their respective lock-in obligations, as set out in
paragraph 15 of Part II of the Company's Admission Document dated
21 May 2013 (the "Admission Document") to the extent of the Placing
Shares sold in the Placing. All ordinary shares held by the
Director Vendors subsequent to the Placing will remain subject to
the lock-in obligations and orderly market arrangements set out in
the Admission Document. All ordinary shares held by the Vendor
Shareholders subsequent to the Placing remain subject to the
orderly marketing arrangements set out in paragraph 15 of Part II
of the Admission Document.
Subsequent to the Placing, the Director Vendors revised
shareholdings are set out below.
Director Placing Shares sold Resultant shareholding
-------------- ---------------------------------- ----------------------------------
Number of % of issued Number of % of Enlarged
Ordinary Shares share capital Ordinary Shares Share Capital
-------------- ----------------- --------------- ----------------- ---------------
Nick Jarmany 8,109,347 12.5% 16,752,923(1) 25.9%
-------------- ----------------- --------------- ----------------- ---------------
Gary Mullins 3,142,173 4.9% 4,058,641(2) 6.3%
-------------- ----------------- --------------- ----------------- ---------------
Chen Tai Lin 2,221,739 3.4% 4,589,842(3) 7.1%
-------------- ----------------- --------------- ----------------- ---------------
(1) Mr Jarmany's holding includes 5,573,379 Ordinary Shares,
representing 8.6 per cent. of the issued share capital of the
Company, registered in the name of his wife, Francesca
Marzilli.
(2) Mr Mullins' holding includes 389,233 Ordinary Shares,
representing 0.6 per cent. of the issued share capital of the
Company, registered in the name of his wife, Sophie Jayne
Mullins
(3) Mr Lin's holding includes 1,167,700 Ordinary Shares,
representing 1.8 per cent. of the issued share capital of the
Company, registered in the name of his wife, Shu-Hsiang Wu.
Subsequent to the Placing the Founder Shareholders revised
shareholdings are set out below.
Vendor Shareholder Placing Shares sold Resultant shareholding
-------------------- ---------------------------------- ----------------------------------
Number of % of issued Number of % of Enlarged
Ordinary Shares share capital Ordinary Shares Share Capital
-------------------- ----------------- --------------- ----------------- ---------------
Alex Taylor 1,269,565 2.0% 2,662,767 4.1%
-------------------- ----------------- --------------- ----------------- ---------------
Mark Mullins 2,380,434 3.7% 2,484,981 3.8%
-------------------- ----------------- --------------- ----------------- ---------------
Daniel Jarmany 407,714 0.6% 842,286 1.3%
-------------------- ----------------- --------------- ----------------- ---------------
Tim Moulson 326,171 0.5% 673,829 1.0%
-------------------- ----------------- --------------- ----------------- ---------------
Nick Jarmany, CEO of Quixant, commented: "Since our IPO in May
last year it became increasingly clear to us that greater liquidity
was necessary for the long term benefit of the Company. By
successfully completing this Placing we have satisfied significant
institutional demand and broadened our shareholder base. I am very
pleased with the calibre and support of existing and new
shareholders and look forward to continuing to implement our growth
strategy."
Enquiries
Quixant plc
Nick Jarmany (Chief Executive)
Jon Jayal (General Manager) +44(0)1223 892 696
Nominated Adviser and Broker:
finnCap Limited
Matt Goode (Corporate Finance)
Charlotte Stranner (Corporate Finance)
Victoria Bates (Corporate Broking) +44(0)20 7220 0500
Financial PR:
Newgate Threadneedle
John Coles / Fiona Conroy / Hilary
Millar +44(0)20 7653 9850
About Quixant
Quixant, founded in 2005, designs and manufactures complete
advanced hardware and software solutions (Gaming Platforms) for the
pay-for-play gaming and slot machine industry. The Company is
headquartered outside of Cambridge in the UK. Quixant UK Ltd is
responsible for the group's global (excluding North America) sales
function and its Las Vegas based subsidiary, Quixant USA Inc, is
responsible for sales and sales support to the North American
market. Quixant has its own manufacturing and engineering operation
in Taiwan, which has evolved with the rapid growth of the Company.
Quixant's Italian subsidiary, Quixant Italia, houses the Group's
software engineering and customer support team.
Quixant's high quality, specialised products provide an
all-in-one solution, based on PC technology but with augmentative
hardware features and operating software developed specifically to
address the requirements of the gaming industry. Products feature
innovative mechanical designs which are optimised for operation in
the gaming and slot machine environment. Quixant's proprietary
hardware and embedded software is flexible in its design, enabling
Quixant to easily respond to changes in regulation or customers
operating in different markets or jurisdictions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEUGUAWCUPCUQB
Quixant (LSE:QXT)
Historical Stock Chart
From May 2024 to Jun 2024
Quixant (LSE:QXT)
Historical Stock Chart
From Jun 2023 to Jun 2024