TIDMFADL
RNS Number : 9840X
Fadel Partners Inc.
02 May 2023
2 May 2023
Fadel Partners, Inc.
('FADEL', the 'Company' or, together with its subsidiaries, the
'Group')
Issuance of Common Shares
Fadel Partners, Inc., a brand compliance, rights and royalty
management software provider, is pleased to announce that on 28
April 2023 the Company issued 223,289 new depositary interests over
common shares of $0.001 ("Common Shares"), at a price of 144 pence
per share, by way of direct subscription ("Subscription"). The
participants include friends, family and 34 employees.
The receipt of these funds will be used to repay $401,613 of the
Fadel Loan, a loan between the Company and Tarek Fadel, as detailed
in the Admission Document, published on 4 April 2023. Following the
repayment, the remaining loan balance will be $162,396.
Application has been made to the London Stock Exchange for these
Common Shares, which will rank pari passu with the Company's
existing Common Shares, to be admitted to trading on AIM. Dealings
in the new Common Shares on AIM are expected to commence at 8:00
a.m. on 5 May 2023.
Following Admission of the Common Shares, the Company will have
20,191,292 Common Shares with a nominal value of $0.001 each.
Shareholders may use this figure of Common Shares as the
denominator by which they are required to notify their interest in,
or change their interest in, the Company under the Disclosure
Guidance and Transparency Rules.
Related Party Transaction
Vicary Gibbs, CFO has agreed to subscribe for 14,500 Common
Shares for a total price of GBP20,880. As at the date of this
announcement, Vicary holds 14,500 Common Shares representing
approximately 0.07 per cent. of the Common Shares in issue. Vicary
is a director of the Company and his participation in the
Subscription is a related party transaction pursuant to AIM Rule
13.
The Independent Directors, being Tarek Fadel, Ken West, Sally
Tilleray, George Kadifa and Joe Gruttadauria, consider, having
consulted with the Company's nominated adviser, finnCap Ltd, that
the terms of Vicary's participation in the Fundraise are fair and
reasonable insofar as the Company's shareholders are concerned.
Tarek Fadel, Chief Executive Officer, commented :
"We are delighted to announce that following our IPO, a
significant number of FADEL employees expressed a strong desire to
participate in the growth of our company. As a team we are
convinced of the merits of our business and it is both gratifying
and very encouraging that so many of our employees have taken part.
Together we look forward to continued growth for all of our
shareholders."
For further information please contact:
Tarek Fadel, Chief Executive Officer Via Alma PR
Vicary Gibbs, Chief Financial Officer
finnCap Limited (Nomad & Broker) 020 7220 0500
Jonny-Franklin Adams, Emily Watts, Abigail
Kelly, Milesh Hindocha (Corporate Finance)
Tim Redfern, Sunila De Silva (ECM)
Alma PR Tel: +44(0)20 3405
0205
Josh Royston fadel@almapr.co.uk
Andy Bryant
Matthew Young
About FADEL Partners Inc.
FADEL is a developer of cloud based brand compliance and rights
and royalty management software, working with some of the world's
leading licensors and licensees across media, entertainment,
publishing, consumer brands and hi-tech/gaming companies. The Group
combines the power of rights management and content compliance with
sophisticated content services, AI-powered visual search and image
and video recognition.
FADEL has two solutions, being IPM Suite (rights and royalty
management for publishers and licensing) and Brand Vision (an
integrated platform for Brand Compliance & Monitoring that
includes Content Services, Digital Rights Management, AI-Powered
Content Tracking, a Brand Monitor, and 100 million Ready-to-License
Images).
The Group's main country of operation is the United States,
where it is headquartered in New York, with further operations in
the UK, Lebanon, France, Canada and India. Founded in 2003 by Tarek
Fadel (Chief Executive Officer), FADEL has since grown to a team of
116 full time employees, plus an additional pool of c.50-60
contractors.
For more information please visit the Group's website at:
www.fadel.com .
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Vicary Gibbs
----------------------------------- ------------------------------------
2. Reason for the Notification
-------------------------------------------------------------------------
a) Position/status Chief Financial Officer
----------------------------------- ------------------------------------
b) Initial notification/Amendment Initial notification
----------------------------------- ------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------
a) Name Fadel Partners, Inc.
----------------------------------- ------------------------------------
b) LEI 2138006CF39FSLKDRZ65
----------------------------------- ------------------------------------
4. Details of the transaction(s): section to be repeated for (i)
each type of instrument; (ii) each type of transaction; (iii)
each date; and (iv) each place where transactions have been conducted
-------------------------------------------------------------------------
a) Description of Common Stock of $0.001 per share
the Financial
instrument, type
of instrument
Identification ISIN: USU3033R1024
code
----------------------------------- ------------------------------------
b) Nature of the Purchase of Ordinary Shares
transaction
----------------------------------- ------------------------------------
c) Price(s) and volume(s) 14,500 Ordinary Shares
144 pence
----------------------------------- ------------------------------------
d) Aggregated information:
Aggregated volume 14,500 Ordinary Shares
Price GBP20,880
----------------------------------- ------------------------------------
e) Date of the transaction 28 April 2023
----------------------------------- ------------------------------------
f) Place of the transaction Outside a trading venue
----------------------------------- ------------------------------------
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END
DSHFLFVAEEILIIV
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May 02, 2023 02:00 ET (06:00 GMT)
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