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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Modern Water Plc | LSE:MWG | London | Ordinary Share | GB00B1XF5X66 | ORD 0.25P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.45 | 2.40 | 2.50 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Nov 2019 to Nov 2024
TIDMMWG
RNS Number : 7425E
Modern Water PLC
10 November 2020
AIM share code: MWG
10 November 2020
Modern Water PLC
("Modern Water" or "Company")
Issue of Shares
Following the announcement yesterday by DeepVerge PLC ("DeepVerge") that the recommended all share offer by DeepVerge for the entire issued and to be issued share capital of Modern Water has been declared unconditional in all respects, Modern Water is issuing 32,000,000 Modern Water Shares to Dr Nigel Burton and Gerard Brandon pursuant to the terms of their director's service contracts.
As previously announced, under the terms of Dr Nigel Burton's service contract with Modern Water, he is entitled to receive his salary of GBP30,000 per annum for the two years from 20 February 2020 in Modern Water Shares at an issue price of 0.5 pence per Modern Water Share. Upon a change of control, these amounts fall due to be settled, to the extent not already settled, by the issue of 12,000,000 Modern Water Shares at an issue price of 0.5 pence per Modern Water Share. Similarly Gerard Brandon is entitled to receive his salary of GBP50,000 per annum for the two years from 4 March 2020 in Modern Water Shares at an issue price of 0.5 pence per Modern Water Share. Upon a change of control, these amounts fall due to be settled, to the extent not already settled, by the issue of 20,000,000 Modern Water Shares at an issue price of 0.5 pence per Modern Water Share.
Application will be made for the admission of 32,000,000 new Modern Water Shares to trading on AIM, and it is expected that dealings in the New Shares will commence on or around 13 November 2020. On admission the new Modern Water Shares will rank pari passu in all respects with the Modern Water Shares currently in issue.
Total Voting Rights
Following the admission of the New Shares as described above, the Company's issued share capital will consist of 556,693,214 Modern Water Shares, each with voting rights. The Company does not hold any Ordinary Shares in Treasury.
The above figure of 556,693,214 may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Words and expressions defined in the Offer Document shall, unless the context provides otherwise, have the same meanings in this announcement.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
Contacts:
Hot Features
Premium
Simon Humphrey ,
Modern Water plc CEO +44 (0)20 3827 3439
Sandy Jamieson
Cairn Financial Advisers James Lewis
LLP (Nominated Adviser) Ludovico Lazzaretti +44 (0)20 7213 0880
---------------------- --------------------
Turner Pope Investments Andy Thacker / Zoe
(TPI) Limited (Broker) Alexander +44 (0)20 3657 0050
---------------------- --------------------
About Modern Water
Modern Water was established in 2006 to develop and commercialise water recovery technologies to counter water crisis problems arising from climate change and a growing global population. Having invested GBP20m over the last 14 years, the results comprise a robust patent portfolio of cutting-edge technology, focused on monitoring of contaminated water and decontamination of wastewater, making recycling of water more efficient. Six countries across the world have legislated that Modern Water monitoring test systems are written into their environmental protection legislation.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi ed by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "potentially", "expect", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------------------------
a. Name a ) Gerry Brandon
b) Nigel Burton
------------------------------------- --------------------------------------------------
2 Reason for notification
------------------------------------- --------------------------------------------------
a. Position/Status a) Non-Executive Chairman
b) Non-Executive Director
------------------------------------- --------------------------------------------------
b. Initial notification/ Initial notification
Amendment
------------------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a. Name Modern Water
------------------------------------- --------------------------------------------------
b. LEI 213800MTSDJQ13UBC211
------------------------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-----------------------------------------------------------------------------------------
a. Description of
the financial Ordinary shares of GBP0.0025 each
instrument, type
of instrument
Identification ISIN: GB00B1XF5X66
Code
------------------------------------- --------------------------------------------------
b. Nature of the Issue of shares
transaction
------------------------------------- --------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
per
share
------------------------------------- -----------------
a) 0.5p a) 20,000,000
b) 0.5p b) 12,000,000
----------------- ----------------------------
Aggregated information
- Aggregated Volume 32,000,000
d. - Price 0.5p
------------------------------------- --------------------------------------------------
e. Date of the transaction 9/11/2020
------------------------------------- --------------------------------------------------
f. Place of the transaction London
------------------------------------- --------------------------------------------------
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------------------------
a. Name a ) Gerry Brandon
b) Nigel Burton
c) Simon Humphrey
------------------------------------- --------------------------------------------------
2 Reason for notification
------------------------------------- --------------------------------------------------
a. Position/Status a) Non-Executive Chairman
b) Non-Executive Director
c) Executive Director
------------------------------------- --------------------------------------------------
b. Initial notification/ Initial notification
Amendment
------------------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a. Name Modern Water
------------------------------------- --------------------------------------------------
b. LEI 213800MTSDJQ13UBC211
------------------------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-----------------------------------------------------------------------------------------
a. Description of
the financial Ordinary shares of GBP0.0025 each
instrument, type
of instrument
Identification ISIN: GB00B1XF5X66
Code
------------------------------------- --------------------------------------------------
b. Nature of the Disposal of current shareholding in exchange
transaction for DeepVerge plc Shares pursuant to the
Offer by DeepVerge plc
------------------------------------- --------------------------------------------------
c. Price(s) and volume(s) Volume(s)
------------------------------------- -----------------
a) 10,000,000
b) 4,300,000
c) 1,882,000
----------------- ----------------------------
Aggregated information
d. - Aggregated Volume 16,182,000
------------------------------------- --------------------------------------------------
e. Date of the transaction 9/11/2020
------------------------------------- --------------------------------------------------
f. Place of the transaction London
------------------------------------- --------------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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END
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(END) Dow Jones Newswires
November 10, 2020 02:00 ET (07:00 GMT)
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