Datalex PLC AGM Statement & Potential Fundraising Update

RNS Number : 9285W

Datalex PLC

18 July 2024

 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. With the publication of this announcement, this information is now considered to be in the public domain.

 

 

DATALEX PLC

 

AGM Statement and Potential Fundraising Update

 

Dublin, Ireland - 18 July 2024: Datalex plc (the "Company" or the "Group") (Euronext Growth Dublin: DLE), a market leader in airline e-commerce solutions, will hold its Annual General Meeting ("AGM") at 11:00am Dublin time today at Block V, Eastpoint Business Park, Dublin 3 D03 H704, Ireland.

 

At the AGM, David Hargaden, Chairman, will make the following statement:

 

"In the Company's annual report for the year ended 31 December 2023, which was published on 20 June 2024, the Board reiterated its focus on positioning the business to repay the Tireragh Limited loan facility and announced that its was actively working with its financial advisors to advise on and commence an equity fundraising process.

 

I can confirm that this process is ongoing and it is the Board's intention to launch a €25m equity fundraising (the "Potential Fundraising"), in the early Autumn. The Potential Fundraising, if completed, is expected to enable the Group to repay in entirety its existing loan facility with Tireragh Limited and provide sufficient working capital to invest further in the Group's product roadmap and activation projects, while continuing to compete for new revenue opportunities. 

 

Due to the legal requirements of Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014, shareholders would need to hold their shares in dematerialised form in order to participate in the Potential Fundraising (i.e. certificated shareholders would not be eligible to participate in the Potential Fundraising). Therefore, the Board would encourage any shareholder, who holds their shares in certificated form and would like to be eligible to participate in the Potential Fundraising, to dematerialise their shareholding at their earliest convenience.

 

There is no certainty at this stage that the Potential Fundraising will complete, nor the timing or terms of the Potential Fundraising. Further announcements will be made in due course as appropriate." 

 

ENDS

 

Contact information

 

Investor Enquiries

Neil McLoughlin, Datalex plc

[phone]

[e-mail]

 

Media Enquiries

Eavan Gannon, Powerscourt

[phone]

[e-mail]  

 

About Datalex

 

Datalex's purpose is to transform airline retail. Datalex is a market leader in airline retail technology, offering unique products that enable airlines to drive revenue and profit as digital retailers. Datalex has a strong track record of delivering digital retail transformation for progressive airline brands worldwide. The Group is headquartered in Dublin, Ireland, and maintains offices across Europe, the USA and China. In 2023, Datalex was awarded the 'Great Place to Work®' and 'Best Workplaces in Tech™' certifications. Datalex plc is a publicly listed company, on Euronext Growth, Dublin.

Learn more at www.datalex.com

 

For the purposes of Article 2 of Commission Implementing Regulation (EU) 2016/1055, the person responsible for arranging for the release of this announcement on behalf of Datalex is Neil McLoughlin, Chief Commercial and Legal Officer.  The date and time of this statement is the same as the date and time that it has been communicated to the media.

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END

 

 

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