TIDMSIV
RNS Number : 2260A
Sivota PLC
22 September 2022
22 September 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF
THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE
UNLAWFUL TO DO SO.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION REGARDING SIVOTA
PLC. NOTHING IN THIS ANNOUNCEMENT OR THE PROSPECTUS CONSTITUTES AN
OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES
IN ANY TERRITORY.
SIVOTA PLC
(" Sivota ," or "the Company")
Readmission of the entire issued Ordinary Share capital to the
Official List (by way of a Standard Listing under Chapter 14 of the
Listing Rules) and to trading on the London Stock Exchange's Main
Market for listed securities
Prospectus publication and expected date of Readmission
Sivota, the London listed investment vehicle focused on
later-stage, Israeli technology companies, announces that it has
today published a prospectus (the " Prospectus " ) approved by the
FCA in connection with the readmission of its entire issued
ordinary capital (the "Ordinary Shares") to the standard segment of
the Official List of the FCA and to trading on the London Stock
Exchange's Main Market for listed securities ("Readmission").
Readmission (including the recommencement of trading in the
Ordinary Shares) is expected to occur at 8.00 a.m. on 26 September
2022.
Background to Readmission
On 7 December 2021, the Company announced that it had entered
into non-binding term sheet (with Apester Limited ("Apester"), an
Israeli incorporated business which operates an innovative digital
experience software platform that enables brands, publishers and
e-commerce to create and distribute interactive digital
experiences, in relation to a potential transaction. The Company's
shares were suspended pending (i) completion of the transaction
which would be a reverse takeover for the purposes of the Listing
Rules and (ii) publication of a prospectus in relation to its
enlarged group.
On 13 May 2022, the Company announced the acquisition of a
majority stake in Apester Ltd (the "Acquisition"). Under the terms
of the Acquisition agreement, the Company was issued Preferred Seed
Shares in the capital of Apester for an aggregate price of US $12.0
million reflecting pre-money valuation of Apester of $16.0 million
on a fully diluted basis. The cash consideration for the
Acquisition was raised through a $14.2 million (gross) placing and
direct subscription of 11,500,000 new ordinary shares of one pence
each in the Company at GBP1.00 a share from existing and new
investors in Sivota. The Prospectus relating to the Company and its
enlarged group has therefore been published for the purposes of
Readmission.
Prospectus availability
A copy of the Prospectus will be available on the Company's
website at https://sivotacapital.com/ . Neither the content of the
Company's website, nor the content on any website accessible from
hyperlinks on its website for any other website, is incorporated
into, or forms part of, this announcement nor, unless previously
published by means of a recognised information service, should any
such content be relied upon in reaching a decision as to whether or
not to acquire, continue to hold, or dispose of, securities in the
Company.
Background to the Acquisition
Apester is a digital experience software platform that enables
brands to engage and understand customers across all digital media
channels, in turn increasing lead generation, brand uplift,
conversion and sales for its customers.
Developed over seven years and with c. $36 million invested in
its technology prior to the Acquisition, Apester employs 35 people
worldwide, generated revenues of $9.2 million in 2021 (2020: $7.3
million), and services c. 143 global customers including renowned
brands such as CNN, RollingStone, The Independent, IKEA, Australian
Football League and more.
Apester facilitates businesses to better understand their
customers across all digital channels including websites, apps and
social media. Its platform provides tools to create a range of
personalised interactive experiences and applications, including
customer surveys, mobile landing pages, onboarding forms,
interactive videos, polls, quizzes, custom applications and web
stories.
Apester's suite of software applications also includes a Data
Management Platform that allows customers to collect, store and
'own' Zero Party and First-Party engagement data generated from
experiences and applications created on Apester while adhering to
compliance and privacy regulations. The platform's analytics help
to create valuable insight into customer trends, sentiment and
preferences, enabling brands and publishers to better understand
their customers and to accelerate their business performance.
The Digital Experience Platform (DXP) market size is projected
to reach $43.43 billion by 2028, growing at a CAGR of 13.4% 1 from
2021 to 2028. This growth is underpinned by key trends including
the acceleration of the digital economy as a result of Covid-19 and
customers increasingly wanting to maximise engagement to deliver
meaningful ROI. Apester's self-serve, scalable and
customer-friendly platform is well-placed to capitalise on this
significant market growth.
Sivota will focus on the following key growth priorities:
-- Market focus and client segmentation: concentrate on publishers and small- to medium-sized brands/e-commerce businesses; and identify potential customers with business cases similar to proven case studies
-- Enhance self-serve platform: continued development of the technology
-- Business model: shift focus from usage-based model to a SaaS business
-- Financial model management: setting new financial plans and
KPIs; tight control over ROI, cash flow and models
-- Operational processes: optimise delivery processes to improve
margins with existing clients and scale capabilities
Total voting rights
Following Readmission the total issued share capital of the
Company will be 12,585,000 Ordinary Shares. There are no Ordinary
Shares held in treasury. Therefore, following Readmission, this
figure of 12,585,000 should be used by shareholders as the
denominator for the calculation by which they determine if they are
required to notify their interest in, or a change to their interest
in, the Company under the Disclosure Requirements and Transparency
Rules of the FCA.
1
https://www.prnewswire.com/news-releases/digital-experience-platform-market-size-worth--43-43-billion-globally-by-2028-at-13-4-cagr-verified-market-research-301432876.html
For further information, please visit www.sivotacapital.com or
contact:
Sivota PLC via Vigo Consulting
Tim Weller, Non-Executive Chairman
Ziv Ben-Barouch, Chief Executive Officer
Canaccord Genuity Limited + 44 (0) 20 7523
Alex Aylen - Head of Equities 8000
Vigo Consulting
Jeremy Garcia + 44 (0)20 7390 0230
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END
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