Results of Placing

RNS Number : 3002H

Eagle Eye Solutions Group PLC

12 March 2015

 



12 March 2015

Eagle Eye Solutions Group PLC

("Eagle Eye" or the "Company" or the "Group")

Results of Placing

Eagle Eye, a leading UK provider of digital consumer engagement solutions to the retail and hospitality industries, is pleased to announce the successful completion of the placing announced earlier today (the "Placing").

A total of 2,013,114 new ordinary shares (the "New Shares") and 994,512 existing shares (the "Sale Shares", and together with the New Shares, the "Placing Shares") have been placed by Panmure Gordon at a price of 200 pence per share (the "Placing Price") for a total of approximately £6.0 million. The New Shares being issued represent just under 10% of the issued ordinary share capital of the Company prior to the Placing, and will raise approximately £4.0 million (before expenses) for the Company.

The New Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares in the capital of the Company ("Ordinary Shares"), including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the New Shares.

Application has been made to the London Stock Exchange for admission to trading of the New Shares on AIM ("Admission"). It is expected that Admission will take place at 8:00 a.m. on 16 March 2015 (at which time the Placing will become unconditional) and that dealings in the New Shares on AIM will commence at the same time.

Eagle Eye's enlarged issued ordinary share capital immediately following the issue of the New Shares will be 22,144,266 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify an interest in, or a change in interest in, the share capital of the Company under the Disclosure and Transparency Rules.

Certain Directors of the Company have agreed to acquire Placing Shares pursuant to the terms of the Placing. The beneficial interests of the participating Directors (including related associates) as a result of the Placing are shown below:

Name	Before Placing		Placing Shares acquired	After Placing
	Holding	%		Holding	%
Mr Bill Currie	1,917,163	9.52%	423,222	2,340,385	10.57%
Sir Terry Leahy	1,377,030	6.84%	300,000	1,677,030	7.57%
Mr Bob Willett	501,439	2.49%	50,143	551,582	2.49%
Mr Malcolm Wall	30,487	0.15%	3,048	33,535	0.15%
Mrs Lucy Sharman-Munday	-	-	5,000	5,000	0.02%

Panmure Gordon acted as Financial Adviser, Nominated Adviser, Corporate Broker and sole Bookrunner in connection with the Placing.

Phill Blundell, Chief Executive Officer of Eagle Eye, said:

"We are extremely pleased to have completed this successful fundraising, which will allow Eagle Eye to capitalise on its major growth opportunities. The recent transformational contract with Asda and ability for its FMCG suppliers to create and manage their national digital programmes for digital redemption in Asda's stores provides the ideal template for Eagle Eye's international expansion.

In summary, we are seeing huge growth across the retail and hospitality sectors in the move to digital delivery for the issuance and redemption of promotions, giftcards and rewards. I am hugely encouraged by, and would like to thank our current investors for, their on-going support, and welcome our new institutional investors who have chosen to participate in the Placing and our growth story."

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For further information, please contact:

Eagle Eye                                                                                                       Tel: [phone]

Phill Blundell, Chief Executive Officer

Lucy Sharman-Munday, Chief Financial Officer                                                                           

Panmure Gordon                                                                                          Tel: [phone]

Hugh Morgan / Fabien Holler / Duncan Monteith, Corporate Finance

Charles Leigh-Pemberton, Corporate Broking                                                                             

Hudson Sandler                                                                                            Tel: [phone]

Nick Lyon / Alex Brennan                                                                                                              

www.eagleeye.com

About Eagle Eye

Eagle Eye is a leading UK provider of digital consumer engagement solutions, enabling the retail and hospitality industries to deliver real-time digital promotions.

The Company provides a digital transaction platform, Eagle Eye AIR, for the secure, real-time, multi-channel issuance, management and redemption of digital offers, vouchers and rewards, replacing previously used paper-based methods. Through the digital engagement module customers can send a plethora of marketing communications like SMS and email using the interactive smart messaging service.

Eagle Eye PROMOTE, a further module of the AIR platform, enables FMCG suppliers to login, set-up and monitor their campaigns in real-time.

The coupons, stored value and loyalty-based rewards markets are currently transitioning through substantial change as both retailers and consumers are moving away from paper and plastic to digital

offers, vouchers and rewards. These markets, in aggregate, are estimated to be worth £54.8 billion^[1], £4.7 billion^[2] and £210 million^[3] respectively.

The Eagle Eye platform comprises four key components: campaign creation; issuance; redemption and reporting. These components allow the Company's clients to deliver relevant offers, vouchers and rewards to consumers in real time, in a simple and secure way, across multiple media including email, SMS messaging and loyalty apps. The promotions can be redeemed securely by the consumer through any enabled point of sale channel.

The Company's current customer base comprises leading names in UK retail and hospitality including Asda, Aurora Fashion, Greggs, JD Sports, Ladbrokes, Marks & Spencer, Mitchells & Butlers, Orange, Pizza Express, Tesco and Thomas Pink.

The Group is headquartered in Guildford, Surrey and has an office in Manchester.

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[1] IPM, Size of the UK Promotional Marketing Industry 2013

[2] UK Gift Card & Voucher Association: Gift Cards & Vouchers in the UK - Summary (2012)

[3] Telco 2.0, Digital Commerce (July 2013)

 

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