Placing of Existing Shareholder's Interest
Light Science Technologies Holdings plc
("LSTH" or the "Company")
Placing of Existing Shareholder's Interest
Light Science Technologies Holdings plc, the controlled environment agriculture ("CEA") technology and contract electronics manufacturing ("CEM") group, announces, further to the recent share price rise and general interest in the Company's ordinary shares of 1 penny each ("Ordinary Shares"), Turner Pope Investments (TPI) Ltd ("Turner Pope"), the Company's broker, has today placed 8,500,000 Ordinary Shares, held by Gordon Hall, with clients of Turner Pope. Following the sale of Ordinary Shares by Mr Hall, he no longer has an interest in the share capital of LSTH.
In order to effect the sale of Mr Hall's Ordinary Shares, Mr Hall was released in the normal course from a lock-in agreement that he was requested to enter into at the time of the Company's recent flotation on AIM.
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (EU) 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. Upon publication of this announcement, this information is now considered to be in the public domain.
For further information, please contact:
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Light Science Technologies Holdings plc
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Simon Deacon, Chief Executive Officer Jim Snooks, Chief Financial Officer Andrew Hempsall, Chief Operating Officer |
via Walbrook PR |
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Strand Hanson Limited (Nominated & Financial Adviser)
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Tel: +44 (0) 20 7409 3494 |
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James Harris / Ritchie Balmer / Rob Patrick |
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Turner Pope Investments (TPI) Ltd (Broker) |
Tel: +44 (0) 20 3657 0050 |
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Ben Turner / James Pope / Andy Thacker |
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Walbrook PR Ltd (Media & Investor Relations)
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Tel: +44 (0)20 7933 8780 or lst@walbrookpr.com |
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Nick Rome / Paul McManus / Nicholas Johnson |
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About Light Science Technologies Holdings plc ( www.lightsciencetechnologiesholdings.com )
Light Science Technologies Holdings plc was incorporated in England and Wales on 13 January 2020 and is the holding company of the Group's contract electronics manufacturing ("CEM") division, UK Circuits and Electronics Solutions Limited, and its controlled environment agriculture ("CEA") division, Light Science Technologies Ltd.
UK Circuits was founded in 1997 and is a contract electronics manufacturer with strong revenue and cash generation. The Group's manufacturing facilities in Manchester, United Kingdom enable the Group to design, manufacture and test high-quality CEM products used in a broad range of sectors.
Light Science Technologies was founded in September 2019 and facilitates the Company's CEA operations. The Group's state-of-the-art laboratory facilities in Derby, United Kingdom, enable the Group to design, test and provide innovative CEA products and services.
The CEM focussed division of the Group, UK Circuits, designs, procures and manufactures high-quality CEM products, specialising in PCBs, for over 70 recurring customers, which are used in a range of sectors, including, audio, automotive, electronics, gas detection, lighting, and pest control. The UK Circuits design team works alongside customers with new and existing product designs to provide design and engineering support, including simulation, 3D modelling, and prototyping. UK Circuits' procurement offerings range from assembly of free issue components to full turnkey solutions, leveraging the experience of its dedicated supply chain team and relationships with reputable suppliers.
In addition to the Group's CEM capability, the Group's CEA division, offers integrated, cost-saving and sustainable CEA solutions to crop growers, with a focus on the indoor, vertical and medicinal farming markets, which is expected to be the major growth area for the Group going forwards in light of the market landscape and in view of competing offerings currently in the marketplace. Light Science Technologies' all-in-one CEA solution includes analysing customers' crop growing requirements to provide bespoke, low-energy products, which subsequently monitor the environment in order to maintain optimal growing conditions through the nine cardinals of plant life (namely air speed, carbon dioxide levels, humidity, light, oxygen, plant disease, soil, temperature and water pH levels) to maximise crop yields and minimise resource usage.
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