Light Science Technologies Holdings - Floatation
Intuitive Investments Group plc
Light Science Technologies Holdings plc's Floatation
Intuitive Investments Group plc (AIM: IIG) ("IIG" or the "Company"), a closed-end investment company focussed on the life sciences sector, announces that Light Science Technologies Holdings plc's (AIM: LSTH) ("LSTH") ordinary shares have, this morning, been admitted to trading on AIM ("Admission").
IIG holds, 13,280,000 ordinary shares in LSTH, representing 7.6% of the issued share capital of LSTH. I IG's investment was initially by way of £1 million of convertible loan notes, which had a 7.25% coupon and converted automatically at a 20% discount to LSTH's ordinary share price on Admission. IIG also subscribed for ordinary shares equal to the interest and non-executive director's fee of £78,000 due to IIG from LSTH. IIG's shares in LSTH are subject to six-month hard lock-in and six-month soft lock-in.
David Evans, Executive Chairman of IIG, holds 10,000,000 ordinary shares in LSTH, representing 5.7 per cent. of the issued share capital of LSTH,which were subscribed for at the placing price and warrants to subscribe for up to 6,000,000 ordinary shares. Robert Naylor, CEO of IIG, holds 2,500,000 ordinary shares in LSTH, representing 1.4 per cent. of the issued share capital of LSTH, which were subscribed for at the placing price.
David Evans, Executive Chairman of IIG, commented:
"Congratulations to Simon Deacon and the LSTH team. We are particularly excited by LSTH's deep knowledge of the light spectrum, particularly for applications in the fast-growing controlled environment agriculture division which addresses vertical farming, glasshouse and polytunnels, but also in other applications in digital health. We look forward to LSTH's continued success in the next stage of its development as an AIM company."
For further information, please contact:
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Intuitive Investments Group plc |
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David Evans, Executive Chairman Robert Naylor, CEO |
Via Walbrook PR |
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Strand Hanson Limited - Nominated Adviser |
+44 (0) 20 7409 3494 |
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James Dance / James Bellman
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Turner Pope Investments (TPI) Ltd - Broker |
+44 (0) 20 3657 0050 |
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Andrew Thacker / James Pope |
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Walbrook PR Limited - Media & Investor Relations |
+44 (0)20 7933 8780 or intuitive@walbrookpr.com |
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Paul McManus |
+44 (0) 7980 541 893 |
About Intuitive Investments Group plc
The Company is a recently established investing company, seeking to provide investors with exposure to a portfolio concentrating on fast growing and/or high potential Life Sciences businesses operating predominantly in the UK, continental Europe and the US, utilising the Board's experience and in particular that of the Chairman, David Evans, to seek to generate capital growth over the long term for shareholders.
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