LightwaveRF PLC Posting of Circular and Notice of General Meeting (1337N)
September 20 2019 - 5:28AM
UK Regulatory
TIDMLWRF
RNS Number : 1337N
LightwaveRF PLC
20 September 2019
LightwaveRF plc
("LightwaveRF" or the "Company")
Posting of Circular and Notice of General Meeting
On 16 August 2019, LightwaveRF (AIM: LWRF), the leading smart
homes solutions provider, announced that it had placed a total of
15,806,811 new Ordinary Shares under the Firm Placing and Firm
Subscription at the Issue Price, thereby raising approximately
GBP1.1 million. In addition, a further 2,764,617 new Ordinary
Shares would also be issued under the Conditional Subscription at
the Issue Price, thereby raising a further approximately GBP0.2
million.
The Conditional Subscription is conditional upon, inter alia,
the passing of certain Resolutions. Following completion of the
Conditional Subscription, the Concert Party's interest in the
Company will increase from 36.74 per cent. to 38.16 per cent. which
would require it to make an offer under Rule 9 of the Takeover
Code. The Company has, however, applied to the Panel for a waiver
of Rule 9 of the Takeover Code in order to permit the Conditional
Subscription by certain members of the Concert Party without
triggering an obligation on the part of any member of the Concert
Party (individually or collectively) to make a general offer for
the Company.
Accordingly, a circular (the "Circular") is being be posted
today notifying shareholders of a general meeting which is being
convened for the purpose of considering the Resolutions, at the
Company's offices, Innovation Birmingham Campus, Faraday Wharf,
Holt Street, Birmingham B7 4BB on 7 October 2019 at 10:45 a.m.
Application will be made for admission of 883,686 new Ordinary
Shares (being the Conditional Subscription Shares other than the
Deferred Settlement Shares) to trading on AIM and dealings in these
shares are expected to occur at 8:00 a.m. on 8 October 2019.
The Company has agreed that settlement be deferred in respect of
1,880,931 new Ordinary Shares, forming part of the Conditional
Subscription. As a result, the Deferred Settlement Shares will be
allotted no later than 30 October 2019 and dealings in these shares
are expected to commence no later than 8:00 a.m. on 31 October
2019.
A copy of the Circular and the Notice of General Meeting will be
made available on the Company's website:
https://lightwaverf.com/pages/aimrule26
Defined terms in the announcement have the same meaning as that
set out in the Circular.
LightwaveRF plc www.lightwaverf.com
Jason Elliott, CEO +44 (0) 121 250
Kevin Edwards, CFO 3625
Shore Capital +44 (0) 20 7408
Tom Griffiths / David Coaten 4080
Yellow Jersey PR www.yellowjerseypr.com
Charles Goodwin +44 (0) 7747 788
221
About LightwaveRF
LightwaveRF is the UK's only fully integrated home automation
company.
New customers typically buy a starter pack of Link Plus hub and
smart dimmer which has Apple HomeKit compatibility, 2-way
communication and built-in energy monitoring. Later adding other
easy to install devices from the LightwaveRF range enables further
in-home control, monitoring and automation of lighting, heating and
power.
Devices may be operated manually, by smartphone or tablet-based
apps and also through Google Assistant and Amazon Alexa voice
control.
Leading tech industry publication 9to5 Mac describes LightwaveRF
as "the best UK HomeKit solution for smart lighting".
For further information and "Newsletter sign up", please visit:
www. LightwaveRF.com/corporate/
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"),
encompassing information relating to the Placing, the Subscription
and the Open Offer as described above, and is disclosed in
accordance with the Company's obligations under Article 17 of
MAR.
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.
END
MSCLLFFIAVIIFIA
(END) Dow Jones Newswires
September 20, 2019 06:28 ET (10:28 GMT)
Lightwaverf (LSE:LWRF)
Historical Stock Chart
From Apr 2024 to May 2024
Lightwaverf (LSE:LWRF)
Historical Stock Chart
From May 2023 to May 2024