Photonstar LED Group PLC Issue of Equity (0445L)

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RNS Number : 0445L

Photonstar LED Group PLC

16 April 2018

16 April 2018

PhotonStar LED Group Plc

Issue of Equity

PhotonStar LED Group Plc (AIM: PSL, "PhotonStar" or "the Company"), the British designer and manufacturer of intelligent lighting and building control solutions announces that the Company has issued a total of 71,729,580 new ordinary shares of 0.01p ("Ordinary Shares") each in the Company to professional advisers in lieu of fees, two directors of the Company in lieu of salaries and to certain subscribers for cash at a price of 0.15p (together the "New Ordinary Shares"), as summarised below.

Firstly, a total of 51,350,000 New Ordinary Shares will be issued to certain of the Company's professional advisers and consultants in lieu of advisory and consultancy work undertaken recently.

In addition, a total of 16,346,246 New Ordinary Shares will be issued to James McKenzie, the Company's CEO and Jonathan Freeman, the Company's Chairman in lieu of unpaid salaries over the course of the past 12 months, as per the table below:

 
Director           Number of New     Beneficial     Percentage of 
                    Ordinary Shares   shareholding   Ordinary Shares 
                    to be issued      following      held following 
                                      issue of       the issues of 
                                      New Ordinary   New Ordinary 
                                      Shares         Shares 
James McKenzie     3,333,333         34,841,953*    6.0% 
Jonathan Freeman   13,012,913        13,659,661     2.3% 
 

*Figures include ordinary shares held by Mrs F McKenzie

Finally, following PhotonStar's recent placing as announced on 27 February 2018, which was undertaken at 0.15p per Ordinary Share, the Company has received additional cash subscriptions from employees of the Company for a total of 4,033,333 New Ordinary Shares.

Admission

Application will be made for the 71,729,580 New Ordinary Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 20 April 2018.

Following Admission, the total number of voting rights in the Company will be 583,554,467 Ordinary Shares. This number may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information:

 
 
 PhotonStar LED Group Plc (www.photonstarled.com)    +44 (0)2381 
  James McKenzie - Group Chief Executive              230381 
 
 Northland Capital Partners 
  David Hignell/Tom Price/Jamie Spotswood 
  (Corporate Finance)                                +44 (0)20 
  John Howes/Rob Rees (Corporate Broking)             3861 6625 
 
 
 Peterhouse Corporate Finance Limited                +44 (0)20 
  Duncan Vasey/ Fungai Ndoro                          7469 0930 
 
 

About PhotonStar LED Group Plc

PhotonStar LED Group Plc is a leading British designer and manufacturer of intelligent lighting & building control solutions. The Group's proprietary technology Halcyon(TM) is a scalable, secure wireless IoT platform for retrofit into commercial buildings, for energy reduction, asset monitoring & control, and real time environmental, behavioural and energy insights.

PhotonStar is based in Romsey, Hampshire.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
  1   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Names                    James McKenzie 
---  -----------------------  ------------------------------ 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status          Chief Executive 
---  -----------------------  ------------------------------ 
 b)   Initial notification     Initial Notification 
       /Amendment 
---  -----------------------  ------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                     PhotonStar LED Group plc 
---  -----------------------  ------------------------------ 
 b)   LEI                      213800G3OS3SA2J1Y358 
---  -----------------------  ------------------------------ 
 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              Ordinary Shares of 0.01p each 
       of the financial         in PhotonStar LED Group plc 
       instrument,              ("Ordinary Shares") 
       type of instrument 
---  -----------------------  ------------------------------ 
 b)   Identification           GB00B1TK2453 
       code 
---  -----------------------  ------------------------------ 
 c)   Nature of the            Issue of Shares 
       transaction 
---  -----------------------  ------------------------------ 
 d)   Price and volumes        Price - 0.15p 
                                Volume: 3,333,333 Ordinary 
                                Shares 
---  -----------------------  ------------------------------ 
 d)   Aggregated information    N/a 
       - Aggregated 
       volume 
       - Price 
---  -----------------------  ------------------------------ 
 e)   Date of the              16 April 2018 
       transaction 
---  -----------------------  ------------------------------ 
 f)   Place of the             London Stock Exchange, AIM 
       transaction              Market 
---  -----------------------  ------------------------------ 
 
 
  1   Details of the person discharging managerial 
       responsibilities / person closely associated 
---  ------------------------------------------------------- 
 a)   Names                    Jonathan Freeman 
---  -----------------------  ------------------------------ 
 2    Reason for the notification 
---  ------------------------------------------------------- 
 a)   Position/status          Chairman 
---  -----------------------  ------------------------------ 
 b)   Initial notification     Initial Notification 
       /Amendment 
---  -----------------------  ------------------------------ 
 3    Details of the issuer, emission allowance 
       market participant, auction platform, auctioneer 
       or auction monitor 
---  ------------------------------------------------------- 
 a)   Name                     PhotonStar LED Group plc 
---  -----------------------  ------------------------------ 
 b)   LEI                      213800G3OS3SA2J1Y358 
---  -----------------------  ------------------------------ 
 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              Ordinary Shares of 0.01p each 
       of the financial         in PhotonStar LED Group plc 
       instrument,              ("Ordinary Shares") 
       type of instrument 
---  -----------------------  ------------------------------ 
 b)   Identification           GB00B1TK2453 
       code 
---  -----------------------  ------------------------------ 
 c)   Nature of the            Issue of Shares 
       transaction 
---  -----------------------  ------------------------------ 
 d)   Price and volumes        Price - 0.15p 
                                Volume: 13,659,661 Ordinary 
                                Shares 
---  -----------------------  ------------------------------ 
 d)   Aggregated information    N/a 
       - Aggregated 
       volume 
       - Price 
---  -----------------------  ------------------------------ 
 e)   Date of the              16 April 2018 
       transaction 
---  -----------------------  ------------------------------ 
 f)   Place of the             London Stock Exchange, AIM 
       transaction              Market 
---  -----------------------  ------------------------------ 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 16, 2018 07:15 ET (11:15 GMT)