Modern Water PLC Result of Placing (2349G)
May 25 2017 - 4:46AM
UK Regulatory
TIDMMWG
RNS Number : 2349G
Modern Water PLC
25 May 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
For immediate release 25 May 2017
Modern Water plc
Results of Placing
Modern Water plc, the owner of world-leading technologies for
water and wastewater treatment and for water quality monitoring has
successfully completed the Placing announced on 25 May 2017.
A total of 15,545,449 Placing Shares have been placed by WH
Ireland and 355,000 Subscription Shares have been acquired by
Senior Management and others at a price of 11 pence per share. The
Placing and Subscription have raised approximately GBP1.749 million
(before expenses) for the Company.
WH Ireland is acting as Bookrunner in connection with the
Bookbuild.
Simon Humphrey, Modern Water's Chief Executive Officer,
said:
"We are delighted with the level of support for our
oversubscribed fundraising. We would like to take this opportunity
to welcome new shareholders onto our register and to thank our
existing investors for their continued support. We look forward to
putting the funds raised to work within the Group and accelerate
the execution of our organic growth strategy for the business."
Dealings by persons discharging managerial responsibilities
("PDMRs"), and application for admission to trading on AIM
As part of the arrangements for the Placing, certain of the
Company's Senior Managers (each of whom is classified as a PDMR of
the Company) have acquired, in aggregate, 300,000 Subscription
Shares at the Placing Price.
Application will be made to the London Stock Exchange for
admission to trading of 15,900,499 new Ordinary Shares on AIM
("Admission"). It is expected that Admission will take place and
dealings on AIM will commence at 8:00 a.m. on or around 1 June 2017
(at which time the Placing will become unconditional).
The Placing Shares and the Subscription Shares will, when
issued, be credited as fully paid and will rank pari passu in all
respects with the existing Ordinary Shares in the capital of the
Company, including the right to receive all dividends or other
distributions made, paid or declared in respect of such shares
after the date of issue of the Placing Shares and the Subscription
Shares.
Unless the context requires otherwise, capitalised terms in this
announcement have the same meanings as defined in the Company's
announcement of the Placing released via RNS on 25 May 2017.
Total voting rights
Modern Water's enlarged issued ordinary share capital
immediately following Admission will be 95,405,705 Ordinary Shares
with voting rights attached. The Company has no shares in Treasury;
therefore the total number of voting rights in Modern Water is
95,405,705. This figure may be used by shareholders as the
denominator for the calculations by which they will determine
whether they are required to notify an interest in, or a change to
their interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
For further information please contact:
Modern Water plc +44 (0)1483 696 000
Simon Humphrey, Chief Executive
W H Ireland (Nominated Adviser, Broker and Book Runner)
Paul Shackleton, Jasper Berry (Corporate Broking) +44 (0)207 220 1666
Tavistock (Public Relations) +44 (0) 207 920 3150
Mike Bartlett / Andrew Dunn
The notification below, made in accordance with the requirements
of the EU Market Abuse Regulation, provides further detail.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities ("PDMRs") and persons
closely associated ("PCAs") with them.
1 Details of the person discharging managerial responsibilities / person closely associated
a) Names Toby Schumacher Stephen Heaps
2 Reason for the notification
a) Position/status Toby Schumacher - Company Secretary and PDMR
Stephen Heaps - Chief Financial Officer and PDMR
b) Initial notification /Amendment Initial Notification
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name Modern Water plc
b) LEI Company number 05963927
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 the financial instrument, type of instrument Ordinary Shares of 0.25 pence each
b) Identification code GB00B1XF5X66
c) Nature of the transactions
Purchase of Ordinary Shares
d) Price(s) and volume(s) Toby Schumacher - 150,000 Ordinary Shares
Stephen Heaps - 150,000 Ordinary Shares
Price: 11 pence per Ordinary Share
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transactions 25 May 2017
f) Place of the transaction London Stock Exchange, AIM Market (XLON)
Name of authorised official of issuer responsible for making
notification:
Toby Schumacher
Company Secretary to Modern Water plc
This information is provided by RNS
The company news service from the London Stock Exchange
END
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