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Advanced Power (APC)

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Thursday 01 November, 2012

Advanced Power

Acquisition & Issue of Equity

RNS Number : 0299Q
Advanced Power Components PLC
01 November 2012


1 November 2012

On behalf of:

Advanced Power Components PLC ('APC' or 'the Company')

Embargoed until:





Advanced Power Components Plc

("APC" or the "Company or the "Group")



Acquisition of CeroUK Limited

Issue of Equity


Advanced Power Components (AIM: APC), the UK specialist distributor and manufacturers' representative of electronic componentsand promoter of technologies which reduce energy consumption, is pleased to announce that the Company has entered into an agreement for the acquisition of the entire share capital of CeroUK Limited ("CeroUK") ("Acquisition"). 

CeroUK is a newly incorporated company, which was established to promote the use of and supply multiple "green" technologies that will assist clients to achieve a significant overall reduction in the energy consumption and carbon emission associated with a single building or across multiple sites. It is hoped that, in future and subject to a successful outcome of on-going negotiations with third party insurance agencies, these projects could be offered with underwritten performance guarantees which could allow the Company to attract third party investment as part of its offering to the end client.

CeroUK's brand will not be maintained and the business will trade as part of Minimise Energy Limited ("Minimise Energy"), a holding company that APC has established and in which it intends to consolidate the Group's investments in its "green tech" portfolio. Minimise Energy will promote integrated energy efficiency projects created using the Group's existing QV Controls and Minimise product ranges.

Consideration for the Acquisition will comprise the issue of 310,000 new ordinary shares ("Ordinary Shares") in APC and £23,250 in cash. Based on the closing share price for APC on 30 October 2012, being the latest practicable date prior to this announcement, this represents an aggregate consideration of approximately £60,000. In addition, the vendor of CeroUK has subscribed for a 10% shareholding in Minimise Energy for a nominal consideration.

Application has been made to the London Stock Exchange for 310,000 Ordinary Shares to be admitted to AIM. Admission is expected to become effective and dealings in the Ordinary Shares are expected to commence at 8.00 a.m. on 6 November 2012. Following admission of thenew Ordinary Shares, the Company will have 30,378,987 Ordinary Shares in issue. The new Ordinary Shares will rank pari passu in all respects with the existing ordinary sharesand will be subject to a lock in until 3 September 2013.

The aforementioned figure of 30,378,987 Ordinary Shares may be used by shareholders in the Company 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, APC under the Financial Services Authority's Disclosure and Transparency Rules.



Mark Robinson, CEO of APC, commented:

"I am pleased that we have been able to acquire CeroUK at this early stage. By offering financing and insurance options under the Minimise brand we will be able to address a significantly larger market than previously available to us. The expertise in the CeroUK team adds a new and exciting dimension to our portfolio."



Advanced Power Components plc        

01634 290588

Mark Robinson, Chief Executive Officer

Rob Smith, Finance Director

Strand Hanson Limited

020 7409 3494

James Harris / Angela Hallett

Northland Capital Partners Limited

020 7448 4400

Andy Hanson

Redleaf Polhill

020 7566 6720

Henry Columbine / David Ison                                   



About Advanced Power Components


APC plc is a leading specialist distributor of electronic components, comprising nine areas of activity:


§ APC Hi-Rel distributes a variety of specialist electronic components into applications where component reliability is of paramount importance. Hi-Rel's franchised product lines include power semiconductors, power supplies, memory, wound and high voltage components.


§ APC Locator is a leading solutions provider for obsolete and hard-to-find parts, with 25 years' experience in the industrial and defence/aerospace markets across Europe.


§ APC Hero has a specialist technical sales team focusing on sensors and measurement, power management, communications & connectivity and embedded computing applications.


§ APC Go! provides a kitting and materials management service to companies wanting to outsource non-core activities, offering services ranging from material procurement to full production management.


§ APC Displays+ provides dedicated technical and commercial support for a wide range of displays, driver boards, ICs, single board computers and all related connectivity.


§ APC Novacom is a distributor and manufacturers' representative for RF and microwave frequency electronic components. The business is managed by a team of technical specialists with many years' experience in the RF and Microwave industry.


§ APC Contech is a distributor of specialist data input devices for industrial, broadcasting and medical sectors providing technically advanced solutions for specific application areas.


§ QV Controls Limited is a designer, manufacturer and supplier of DALI-IP technology based lighting and energy management systems that improve energy efficiency and lighting performance within commercial, industrial and high end residential buildings.


§ Minimise Limited is a distributor of energy saving products that include LED lighting, the imop™ and other technologies to both reduce demand for energy and generate electricity more sustainably.




This information is provided by RNS
The company news service from the London Stock Exchange