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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Water Intelligence Plc | LSE:WATR | London | Ordinary Share | GB00BZ973D04 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 317.50 | 315.00 | 320.00 | 317.50 | 316.00 | 317.50 | 8,366 | 08:00:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Cmp Processing,data Prep Svc | 71.33M | 3.67M | 0.2112 | 15.03 | 55.11M |
TIDMWATR
RNS Number : 9537G
Water Intelligence PLC
07 March 2018
THIS ANNOUNCEMENT (INCLUDING THE APPIX) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Water Intelligence plc (AIM: WATR.L)
("Water Intelligence" or the "Company")
Completion of Fundraise
PDMR Dealing
Water Intelligence, a leading provider of non-invasive leak detection and remediation services, is pleased to confirm that, further to the Company's announcement earlier today, it has raised GBP4.2 million (the "Fundraising") in an oversubscribed placing and subscription, through the issue of an aggregate of 2,171,320 new ordinary shares of one penny each in the capital of the Company ("Ordinary Shares") (including the issue out of treasury of 151,184 Ordinary Shares) at a price of 195 pence per Ordinary Share (the "Issue Price").
The fundraising (the "Fundraising") comprised a placing (the "Placing") of 1,846,154 new Ordinary Shares ("Placing Shares") to raise GBP3.6 million and a subscription (the "Subscription") of 325,166 Ordinary Shares (including the issue of 151,184 Ordinary Shares out of treasury) ("Subscription Shares") to raise a total of GBP0.6 million. In addition, Patrick DeSouza, executive chairman of the Company, has agreed to exercise 300,000 options over Ordinary Shares ("Exercise Shares") and sell these to incoming investors at the Issue Price (the Placing Shares, Subscription Shares and Exercise Shares, together the "New Ordinary Shares") (the "Share Transaction"). Michael Reisman and Laura Hills, directors of the Company respectively purchased 7,379 and 22,136 newly issued Ordinary Shares through the Subscription. Finally, David Silverstone, a director sold 38,500 Ordinary Shares to incoming investors at the Issue Price for tax purposes.
All terms used in this announcement are the same, unless otherwise specified, as those in the Company's earlier announcement today launching the Fundraising.
Dr. Patrick DeSouza, Executive Chairman of Water Intelligence, commented:
"With this successful fundraise and the broadening of a high quality investor base on both sides of the Atlantic, we have all the components to create a valuable company: Strong global demand for the critical problem of water loss and deteriorating infrastructure; a scalable multinational growth plan; and competitive advantages ranging from technology, to a $90 million installed base of total franchisee and corporate sales and business to business channels, such as insurance, that leverage that sales footprint. And this round was complemented with an expanded credit facility that preserves equity value. On behalf of our team, I am grateful for the support, not only from investors from our last round who are investing more, but also to our new investors with whom we can create value and share this journey."
Director Shareholdings
As Indicated above, Patrick DeSouza has exercised 300,000 options over Ordinary Shares at a weighted average exercise price of $0.87 and sold these immediately at the Issue Price. Following the issue of the Partly Paid Shares, his interest in the voting rights of the Company will be 4,192,110 (split as to 2,842,110 Ordinary Shares and 1,350,000 Partly Paid Shares), equivalent to 27.52% of the issued share capital of the Company, as enlarged by the New Ordinary Shares and Partly Paid Shares.
David Silverstone, a director of the Company, sold 38,500 Ordinary Shares at the Issue Price in order to settle certain tax liabilities. Following this sale of Ordinary Shares, he will no longer have an interest in the voting rights of the Company.
Directors Michael Reisman and Laura Hills converted their respective 2018 director fees into newly issued ordinary shares for 7,379 New Ordinary Shares each, pursuant to the Subscription. Ms. Hills also purchased 14,757 New Ordinary Shares, pursuant to the Subscription. Following the Fundraising, Mr. Reisman will hold 173,466 Ordinary Shares and Ms. Hills held 89,311 Ordinary Shares, being respectively 1.14% and 0.59% of the issued share capital of the Company, as enlarged by the New Ordinary Shares and Partly Paid Shares.
Admission and Total Voting Rights
Application has been made for the New Ordinary Shares to be admitted to trading on the AIM market ("AIM") of the London Stock Exchange ("Admission"). Settlement for the New Ordinary Shares and Admission is expected to take place at 8.00 a.m. on 13 March 2018. The Fundraising is conditional, among other things, upon Admission becoming effective and the placing agreement between the Company and finnCap (the "Placing Agreement") not being terminated in accordance with its terms.
Following the Fundraising and including the issue of the Partly Paid Shares, the issued share capital of the Company consists of 15,233,969 shares and is divided into 13,883,969 ordinary shares of 1 penny each which are admitted to trading on AIM, and 1,350,000 Partly Paid Shares of 1 penny each which are not admitted to trading on AIM. All shares have equal voting rights. The Company's total issued share capital figure is therefore 15,233,969 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 FSA's Disclosure Guidance and Transparency Rules.
The New Ordinary Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing Ordinary Shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.
Enquiries:
Water Intelligence plc Patrick DeSouza (Executive Chairman) Tel: +1 203 654 5426 finnCap Ltd Adrian Hargrave / Giles Rolls / Tel: 020 7220 Alex Price (Corporate Finance) 0500 Stephen Norcross (Corporate Broking)
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
1. Details of the PDMR / person closely associated --- ---------------------------------------------------- a) Name David Silverstone --- ------------------------- ------------------------- 2. Reason for the notification --- ---------------------------------------------------- a) Position PDMR / status --- ------------------------- ------------------------- b) Initial Initial notification notification / amendment --- ------------------------- ------------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- ---------------------------------------------------- a) Name Water Intelligence plc --- ------------------------- ------------------------- b) LEI 213800AL3BNXJ1HQLP10 --- ------------------------- ------------------------- 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 the financial instrument, type of GB00BZ973D04 instrument Identification code --- ------------------------- ------------------------- b) Nature of Sale of Shares the transaction --- ------------------------- ------------------------- c) Price(s) 38,500 shares at 195 and volume(s) pence per share --- ------------------------- ------------------------- d) Aggregated N/A (Single transaction) information * Aggregated volume * Price --- ------------------------- ------------------------- e) Date of 7 March 2018 the transaction --- ------------------------- ------------------------- f) Place of London Stock Exchange, the transaction AIM Market (XLON) --- ------------------------- ------------------------- 1. Details of the PDMR / person closely associated --- ---------------------------------------------------- a) Name Michael Reisman --- ------------------------- ------------------------- 2. Reason for the notification --- ---------------------------------------------------- a) Position PDMR / status --- ------------------------- ------------------------- b) Initial Initial notification notification / amendment --- ------------------------- ------------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- ---------------------------------------------------- a) Name Water Intelligence plc --- ------------------------- ------------------------- b) LEI 213800AL3BNXJ1HQLP10 --- ------------------------- ------------------------- 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 the financial instrument, type of GB00BZ973D04 instrument Identification code --- ------------------------- ------------------------- b) Nature of Issue of Ordinary the transaction Shares in lieu of Directors fees --- ------------------------- ------------------------- c) Price(s) 7,379 Ordinary Shares and volume(s) issued at a price of 195 pence per share --- ------------------------- ------------------------- d) Aggregated N/A (Single transaction) information * Aggregated volume * Price --- ------------------------- ------------------------- e) Date of 7 March 2018 the transaction --- ------------------------- ------------------------- f) Place of London Stock Exchange, the transaction AIM Market (XLON) --- ------------------------- ------------------------- 1. Details of the PDMR / person closely associated --- -------------------------------------------------- a) Name Laura Hills --- ------------------------- ----------------------- 2. Reason for the notification --- -------------------------------------------------- a) Position PDMR / status --- ------------------------- ----------------------- b) Initial Initial notification notification / amendment --- ------------------------- ----------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- -------------------------------------------------- a) Name Water Intelligence plc --- ------------------------- ----------------------- b) LEI 213800AL3BNXJ1HQLP10 --- ------------------------- ----------------------- 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 the financial instrument, type of GB00BZ973D04 instrument Identification code --- ------------------------- ----------------------- b) Nature of Purchase of Shares the transaction Issue of Ordinary Shares in lieu of Directors fees --- ------------------------- ----------------------- c) Price(s) 14,757 Ordinary Shares and volume(s) issued at 195p per share 7,379 Ordinary Shares purchased at 195p per share --- ------------------------- ----------------------- d) Aggregated See above information * Aggregated volume * Price --- ------------------------- ----------------------- e) Date of 7 March 2018 the transaction --- ------------------------- ----------------------- f) Place of London Stock Exchange, the transaction AIM Market (XLON) --- ------------------------- ----------------------- 1. Details of the PDMR / person closely associated --- ------------------------------------------------------ a) Name Pat DeSouza --- ------------------------- --------------------------- 2. Reason for the notification --- ------------------------------------------------------ a) Position PDMR / status --- ------------------------- --------------------------- b) Initial Initial notification notification / amendment --- ------------------------- --------------------------- 3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --- ------------------------------------------------------ a) Name Water Intelligence plc --- ------------------------- --------------------------- b) LEI 213800AL3BNXJ1HQLP10 --- ------------------------- --------------------------- 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 Partly Paid Shares of the financial Options over Ordinary instrument, Shares type of instrument Identification GB00BZ973D04 code --- ------------------------- --------------------------- b) Nature of Issue of Partly Paid the transaction Shares Exercise of Options Sale of Ordinary Shares --- ------------------------- --------------------------- c) Price(s) 750,000 Partly Paid and volume(s) Shares at 1p each 100,000 Options exercised at $1.14 150,000 Options exercised at $0.67 50,000 Options exercised at $0.92 300,000 Ordinary Shares sold at 195p --- ------------------------- --------------------------- d) Aggregated See above information * Aggregated volume * Price --- ------------------------- --------------------------- e) Date of 7 March 2018 the transaction --- ------------------------- --------------------------- f) Place of London Stock Exchange, the transaction AIM Market (XLON) --- ------------------------- ---------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
March 07, 2018 04:00 ET (09:00 GMT)
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