TIDMWTL
RNS Number : 0938K
Waterlogic PLC
11 July 2011
11 July 2011
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE
UNITED STATES OF AMERICA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA OR AUSTRALIA
WATERLOGIC PLC
PLACING RAISING GBP48.5 MILLION AND ADMISSION TO TRADING ON
AIM
Waterlogic Plc ("Waterlogic", the "Group" or the "Company"), a
leading manufacturer and global distributor of point-of-use ("POU")
drinking water purification and dispensing systems, is pleased to
announce a successful fundraising of GBP48.5m, its admission today
to AIM, a market of the London Stock Exchange ("Admission"), and
the commencement of dealings in its ordinary shares under the TIDM
WTL.
Summary
-- Waterlogic placed a total of 33,427,588 ordinary shares with
institutional investors at a Placing Price of GBP1.45 raising
approximately GBP48.5 million (gross), of which approximately GBP41
million was raised for the Company and GBP7.5 million was raised
for certain selling shareholders (the "Placing").
-- The market capitalisation of Waterlogic on Admission at the
Placing Price is approximately GBP112.5 million.
-- The number of ordinary shares in issue immediately after
Admission will be 77,604,157.
-- Waterlogic will utilise the net proceeds of the Placing it
receives to fund future acquisitions, further develop, exploit and
commercialise its Firewall ultra-violet ("UV") technology
(including developing existing projects with leading OEMs, white
goods manufacturers and international water utility companies),
fund expansion of its manufacturing operations and repay
shareholder loans made to the Group.
-- Liberum Capital Limited is acting as Nominated Adviser and
Broker to the Company.
Jeremy Ben-David, Waterlogic, Group CEO, said:
"We are delighted that the AIM flotation of Waterlogic has been
completed successfully and with such strong investor demand for the
Company's shares. Our admission to AIM provides Waterlogic with the
financial firepower to capitalise on the attractive growth
opportunities in the Company's new and existing markets and to
deliver attractive returns to our shareholders.
The management team look forward to strengthening Waterlogic's
leadership position in the POU water dispenser market further
through continued organic and acquisition-led growth, as well as
the expansion into new markets of our existing technologies and new
products, especially with our innovative Firewall ultra-violet
technology."
Enquiries:
Waterlogic Plc Tel: +44 (0)20 7074 1800
Jeremy Ben-David, Group Chief Email:
Executive Officer waterlogic@kreabgavinanderson.com
Steve Harrison, Group Chief Financial
Officer
Liberum Capital (Nominated Adviser Tel: +44 (0)20 3100 2000
and Broker)
Steve Pearce
Richard Bootle
Kreab Gavin Anderson (PR Adviser) Tel: +44 (0)20 7074 1800
James Benjamin Email:
Natalie Biasin waterlogic@kreabgavinanderson.com
Madeleine Palmstierna
Website: www.waterlogic.com
Further information on Waterlogic Plc:
Waterlogic Plc (AIM: WTL.L) is a leading manufacturer and global
distributor of mains attached point-of-use ("POU") drinking water
purification and dispensing systems designed for environments such
as offices, factories, hospitals, hotels, schools, restaurants and
other workplaces.
Waterlogic was one of the first companies to introduce POU
systems to Europe and has been a leader in the POU market in terms
of product design and quality, the application of new technologies
and in sales and service. Waterlogic has an extensive and expanding
independent global distribution network in place, reaching 48
countries across five continents.
Waterlogic products are currently being sold in North and South
America, Europe, Asia, Australia and South Africa. Waterlogic's
leading markets are Western Europe in particular, Norway, Denmark,
Germany, France, UK and the US. Of the 1.5 million new
installations in the business-to-business market between 2005-2010,
approximately 73% incorporated POU technology of which Waterlogic
had a 26% market share.
The Directors believe that the movement away from bottled water
coolers to POU water dispensers is set to continue its current
trend as a result of cost, convenience, health benefits and
environmental considerations.
Waterlogic's Firewall ultra-violet ("UV") technology is one of
the most effective water purification technologies for POU water
dispenser applications currently on the market and is the only
technology certified as being able to guarantee 99.9999% pure water
100% of the time, a fact which has been confirmed by over 5,000
physical tests in independent laboratories. The innovative Firewall
technology incorporates a highly-specialised, compact UV system in
the faucet/tap, which ensures that water passes through the UV
system immediately before it is dispensed into a cup. This point of
differentiation for Firewall is unique in the POU market.
For the financial year ended 31 December 2010, the Group
generated revenues and adjusted EBITDA of US$68.3 million and
US$11.4 million, respectively, and had approximately 500,000
machines installed as at 31 December 2010.
Immediately prior to the Placing, the Company had 49,328,295
ordinary shares in issue, comprising 2 initial subscriber shares,
48,995,000 ordinary shares issued by the Company as part of a Group
re-organisation and a further 333,293 shares issued prior to
Admission. Accordingly, the number of Ordinary Shares in issue
immediately after Admission will be 77,604,157.
IMPORTANT NOTICE
This announcement does not constitute or form part of any offer
or invitation to sell, allot or issue, or any solicitation of or
inducement to enter into any offer to purchase or subscribe for,
any Ordinary Shares or any other securities, nor shall it (or any
part of it), or the fact of its distribution, form the basis of, or
be relied on in connection with, any contract therefore.
No representation or warranty, express or implied, is made by or
on behalf of the Company or Liberum Capital Limited as to the
accuracy, completeness or verification of the information set out
in this announcement, and nothing contained in this announcement
is, or shall be relied upon as, a promise or representation in this
respect, whether as to the past or the future. Neither the Company
nor Liberum Capital Limited assumes any responsibility for its
accuracy, completeness or verification and accordingly each
disclaims, to the fullest extent permitted by applicable law, any
and all liability whether arising in tort, contract or otherwise
which it might otherwise be found to have in respect of this
announcement or any such statement.
The distribution of this announcement outside the United Kingdom
may be restricted by law and therefore any persons outside the
United Kingdom into whose possession this announcement comes should
inform themselves about and observe any such restrictions as to the
Placing, the Ordinary Shares and the distribution of this document.
Any failure to comply with such restrictions may constitute a
violation of the securities laws of any jurisdiction outside the
United Kingdom. This announcement does not constitute an offer to
sell or the solicitation of an offer to buy shares in any
jurisdiction in which such offer would be unlawful. In particular,
this announcement does not constitute an offer to buy shares, and
it is not for distribution, directly or indirectly, in or into the
United States, Canada, Australia, the Republic of South Africa or
Japan except that this document may be provided in certain limited
circumstances authorised and directed by the Company primarily to
institutional accredited investors as defined in Rule 501 under the
US Securities Act of 1933 (the "US Securities Act") based on an
exemption from registration provided by Section 4(2) of the US
Securities Act and Rule 506 thereunder. The Ordinary Shares have
not been and will not be registered under the US Securities of Act,
any state securities laws in the United States or any securities
laws of Canada, Australia, Japan or the Republic of South Africa or
in any country, territory or possession where to offer them without
doing so may contravene local securities laws or regulations.
Accordingly, the Ordinary Shares may not, subject to certain
limited exceptions, be offered or sold, directly or indirectly, in
or into the United States, Canada, Australia, the Republic of South
Africa or Japan.
Liberum capital Limited is regulated in the United Kingdom by
the Financial Services Authority and is acting exclusively for the
Company and for no one else in connection with the Placing and
Admission. It will not regard any other person (whether or not a
recipient of this document) as its client and will not be
responsible to anyone other than the Company for providing the
protections afforded to its clients or for advising any other
person on the contents of this announcement or the Placing and
Admission. Apart from the responsibilities and liabilities, if any,
which may be imposed on Liberum Capital Limited by FSMA or the
regulatory regime established thereunder or under the regulatory
regime of any other jurisdiction where exclusion of liability under
the relevant regulatory regime would be illegal, void or
unenforceable, neither Liberum Capital Limited nor any of its
affiliates accepts any responsibility whatsoever for the contents
of this announcement or for any statement made or purported to be
made by it, or on its behalf, in connection with the Company, the
Ordinary Shares or the Placing. Liberum Capital Limited and each of
its affiliates, accordingly disclaims all and any liability whether
arising in tort, contract or otherwise (save as referred to above)
which they might otherwise have in respect of such announcement or
any such statement. No representation or warranty express or
implied, is made by Liberum Capital Limited or any of its
affiliates as to the accuracy, completeness or sufficiency of the
information
set out in this announcement
The contents of this announcement, which have been prepared by
and are the sole responsibility of the Company, have been approved
by Liberum Capital Limited of solely for the purposes of section
21(2)(b) of FSMA.
- ends -
This information is provided by RNS
The company news service from the London Stock Exchange
END
AIMEVLFBFDFEBBZ
Waterlogic (LSE:WTL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Waterlogic (LSE:WTL)
Historical Stock Chart
From Jul 2023 to Jul 2024
