Readmission and Publication of Prospectus
THE ANNOUNCEMENT BELOW REPLACES THE ANNOUNCEMENT ISSUED AT 7.00 A.M. TODAY WITH RNS NUMBER 2260A. THE NEW RNS CONTAINS THE CORRECT LINK TO THE COMPANY'S WEBSITE. THERE ARE NO OTHER CHANGES.
22 September 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION REGARDING SIVOTA PLC. NOTHING IN THIS ANNOUNCEMENT OR THE PROSPECTUS CONSTITUTES AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN ANY TERRITORY.
SIVOTA PLC
(" Sivota ," or "the Company")
Readmission of the entire issued Ordinary Share capital to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities
Prospectus publication and expected date of Readmission
Sivota, the London listed investment vehicle focused on later-stage, Israeli technology companies, announces that it has today published a prospectus (the " Prospectus " ) approved by the FCA in connection with the readmission of its entire issued ordinary capital (the "Ordinary Shares") to the standard segment of the Official List of the FCA and to trading on the London Stock Exchange's Main Market for listed securities ("Readmission").
Readmission (including the recommencement of trading in the Ordinary Shares) is expected to occur at 8.00 a.m. on 26 September 2022.
Background to Readmission
On 7 December 2021, the Company announced that it had entered into non-binding term sheet (with Apester Limited ("Apester"), an Israeli incorporated business which operates an innovative digital experience software platform that enables brands, publishers and e-commerce to create and distribute interactive digital experiences, in relation to a potential transaction. The Company's shares were suspended pending (i) completion of the transaction which would be a reverse takeover for the purposes of the Listing Rules and (ii) publication of a prospectus in relation to its enlarged group.
On 13 May 2022, the Company announced the acquisition of a majority stake in Apester Ltd (the "Acquisition"). Under the terms of the Acquisition agreement, the Company was issued Preferred Seed Shares in the capital of Apester for an aggregate price of US $12.0 million reflecting pre-money valuation of Apester of $16.0 million on a fully diluted basis. The cash consideration for the Acquisition was raised through a $14.2 million (gross) placing and direct subscription of 11,500,000 new ordinary shares of one pence each in the Company at £1.00 a share from existing and new investors in Sivota. The Prospectus relating to the Company and its enlarged group has therefore been published for the purposes of Readmission.
Prospectus availability
A copy of the Prospectus will be available on the Company's website at https://sivotacapital.com/ Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
Background to the Acquisition
Apester is a digital experience software platform that enables brands to engage and understand customers across all digital media channels, in turn increasing lead generation, brand uplift, conversion and sales for its customers.
Developed over seven years and with c. $36 million invested in its technology prior to the Acquisition, Apester employs 35 people worldwide, generated revenues of $9.2 million in 2021 (2020: $7.3 million), and services c. 143 global customers including renowned brands such as CNN, RollingStone, The Independent, IKEA, Australian Football League and more.
Apester facilitates businesses to better understand their customers across all digital channels including websites, apps and social media. Its platform provides tools to create a range of personalised interactive experiences and applications, including customer surveys, mobile landing pages, onboarding forms, interactive videos, polls, quizzes, custom applications and web stories.
Apester's suite of software applications also includes a Data Management Platform that allows customers to collect, store and 'own' Zero Party and First-Party engagement data generated from experiences and applications created on Apester while adhering to compliance and privacy regulations. The platform's analytics help to create valuable insight into customer trends, sentiment and preferences, enabling brands and publishers to better understand their customers and to accelerate their business performance.
The Digital Experience Platform (DXP) market size is projected to reach $43.43 billion by 2028, growing at a CAGR of 13.4% 1 from 2021 to 2028. This growth is underpinned by key trends including the acceleration of the digital economy as a result of Covid-19 and customers increasingly wanting to maximise engagement to deliver meaningful ROI. Apester's self-serve, scalable and customer-friendly platform is well-placed to capitalise on this significant market growth.
Sivota will focus on the following key growth priorities:
· Market focus and client segmentation: concentrate on publishers and small- to medium-sized brands/e-commerce businesses; and identify potential customers with business cases similar to proven case studies
· Enhance self-serve platform: continued development of the technology
· Business model: shift focus from usage-based model to a SaaS business
· Financial model management: setting new financial plans and KPIs; tight control over ROI, cash flow and models
· Operational processes: optimise delivery processes to improve margins with existing clients and scale capabilities
Total voting rights
Following Readmission the total issued share capital of the Company will be 12,585,000 Ordinary Shares. There are no Ordinary Shares held in treasury. Therefore, following Readmission, this figure of 12,585,000 should be used by shareholders as the denominator for the calculation by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Requirements and Transparency Rules of the FCA.
For further information, please visit www.sivotacapital.com or contact:
|
Sivota PLC Tim Weller, Non-Executive Chairman Ziv Ben-Barouch, Chief Executive Officer
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via Vigo Consulting |
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Canaccord Genuity Limited Alex Aylen - Head of Equities
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+ 44 (0) 20 7523 8000 |
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Vigo Consulting Jeremy Garcia |
+ 44 (0)20 7390 0230 |
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