Result of Open Offer and Placing and TVR
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN FIREANGEL SAFETY TECHNOLOGY GROUP PLC OR ANY OTHER ENTITY IN ANY SUCH JURISDICTION.
8 April 2020
FireAngel Safety Technology Group plc
('FireAngel', the 'Company' or the 'Group')
Result of Open Offer and Placing
and
Total Voting Rights
Result of Open Offer and Placing
Further to its announcements of 23 March 2020 and 6 April 2020 (the 'Announcements'), FireAngel Safety Technology Group plc (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announces the result of the Open Offer to Qualifying Shareholders.
Valid acceptances have been received from Qualifying Shareholders in respect of 15,068,166 Open Offer Shares. This represents approximately 30 per cent. of the Open Offer Shares available under the Open Offer which, at the Issue Price, has raised approximately £1.8 million.
As detailed in the Announcements, under the terms of the Placing Agreement the number of Placing Shares will be scaled back to 35,555,314 New Ordinary Shares, which, at the Issue Price, has raised approximately £4.3 million for the Company.
Subject to the admission to trading on AIM of the 50,623,480 New Ordinary Shares ('Admission'), the Company will have raised a total of approximately £6.1 million (before expenses) as a result of the Open Offer and Placing.
Admission and Total Voting Rights
It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 9 April 2020. The New Ordinary Shares rank pari passu with the Existing Ordinary Shares. Following Admission, the Company's issued share capital will comprise 126,558,845 Ordinary Shares carrying voting rights. This figure 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 in their interests in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Capitalised terms in this announcement have the same meaning as given in the Circular posted to Shareholders on 23 March 2020.
For further information, please contact:
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FireAngel Safety Technology Group plc |
0247 7717 700 |
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John Conoley, Executive Chairman |
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Mike Stilwell, Group Finance Director |
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Shore Capital (Nominated adviser and broker) |
020 7408 4050 |
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Tom Griffiths David Coaten |
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Notes to Editors
About FireAngel Safety Technology Group plc
FireAngel's mission is to protect and save lives by making innovative, leading-edge technology home safety products which are simple and accessible.
FireAngel's principal products are smoke alarms, CO alarms, heat alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.
For further product information, please visit: www.fireangeltech.com.
MAR
The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.
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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