Sch 1 - Qonnectis plc
July 15 2010 - 12:00PM
UK Regulatory
TIDMQTI
RNS Number : 4393P
AIM
15 July 2010
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| ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION |
| IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM |
| RULES") |
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| |
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| COMPANY NAME: |
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| Qonnectis plc, to be renamed Water Intelligence plc |
| |
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| COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY |
| TRADING ADDRESS (INCLUDING POSTCODES) : |
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| REGISTERED OFFICE: St John's Innovation Centre, Cowley Road, |
| Cambridge, Cambridgeshire CB4 0WS |
| TRADING OFFICE: 888 Research Drive, Suite 100, Palm Springs, CA |
| 92262 |
| |
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| COUNTRY OF INCORPORATION: |
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| UK |
| |
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| COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY |
| AIM RULE 26: |
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| Currently www.qonnectis.com (to be renamed, new website to be |
| confirmed) |
| |
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| COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN |
| THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING |
| POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE |
| TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: |
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| The acquisition of American Leak Detection, Inc. ("ALD") by |
| Qonnectis plc will result in a reverse takeover under the AIM |
| Rules. On completion of the acquisition and prior to admission |
| to AIM, Qonnectis plc will change its name to Water Intelligence |
| plc. |
| |
| The enlarged group, of which the main country of operation will |
| initially be the United States, will focus on the accurate, |
| non-destructive detection of all types of leaks including hidden |
| water and sewer leaks, together with repair and other related |
| services, and will seek to address opportunities using ALD's |
| existing established international consumer base as a place from |
| which to grow. In addition to the expanded geographical reach, |
| the new board will seek to identify opportunities for the |
| enlarged group to cross-sell complimentary products and services |
| developed by Qonnectis to ALD's existing customers and |
| Qonnectis's prior municipal customers. |
| |
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| DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS |
| AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and |
| type of shares, nominal value and issue price to which it seeks |
| admission and the number and type to be held as treasury |
| shares): |
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| Up to 9,836,052 new ordinary shares of a nominal value of 1 |
| pence per share. No restrictions on the transfer of securities. |
| |
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| CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND |
| ANTICIPATED MARKET CAPITALISATION ON ADMISSION: |
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| Open Offer of up to 1,332,946 New Ordinary Shares at 75 pence |
| per share to raise up to approximately GBP1 million. Anticipated |
| market capitalisation on admission (based on an issue price of |
| 75 pence per share) of up to GBP7.38 million. |
| |
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| PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
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| Up to 68.61 per cent. (assuming minimum take-up under the open |
| offer) |
| |
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| DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE |
| AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES |
| (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED: |
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| No other exchange or trading platform |
| |
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| FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS |
| (underlining the first name by which each is known or including |
| any other name by which each is known): |
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| Directors: |
| Harry John Miles Offer - Chairman and Proposed Non-Executive |
| Director |
| Barbara Joyce Spurrier - Interim Chief Executive and Finance |
| Director (to resign on admission) |
| Patrick Jude DeSouza - Non-Executive Director and Proposed |
| Executive Chairman |
| Stanford Philip Berenbaum - Non-Executive Director and Proposed |
| Chief Executive |
| |
| Proposed Directors: |
| Richard John "Ric" Piper - Proposed Non-Executive Director |
| (William) Michael Reisman - Proposed Non-Executive Director |
| Stephen Lee Leeb - Proposed Non-Executive Director |
| |
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| FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS |
| A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER |
| ADMISSION (underlining the first name by which each is known or |
| including any other name by which each is known): |
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| |
| Prior to admission On Admission |
| |
| Number Percentage Number Percentage |
| of of issued of new of issued |
| existing share ordinary share |
| ordinary capital shares* capital* |
| shares |
| Plain Sight Systems, - - 1,995,321 21.28 |
| Inc. |
| Patrick DeSouza - - 2,840,718 30.30 |
| Stanford Berenbaum - - 1,068,454 11.40 |
| Bluehone Investors 100,000,000 18.34 477,777 5.10 |
| LLP |
| |
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| NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE |
| 2, PARAGRAPH (H) OF THE AIM RULES: |
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| None |
| |
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| (i) ANTICIPATED ACCOUNTING REFERENCE DATE |
| (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE |
| ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by |
| unaudited interim financial information) |
| (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE |
| REPORTS PURSUANT TO AIM RULES 18 AND 19: |
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| (i) 31 December |
| (ii) 31 December 2009 for both Qonnectis plc and American Leak |
| Detection, Inc. |
| (iii) 30 September 2010 for the six month period ended 30 June |
| 2010 |
| 30 June 2011 for the year ended 31 December 2010 |
| 30 September 2011 for the six month period ended 30 June 2011 |
| |
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| EXPECTED ADMISSION DATE: |
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| 30 July 2010 |
| |
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| NAME AND ADDRESS OF NOMINATED ADVISER: |
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| Merchant Securities Limited, 51-55 Gresham Street, London EC2V |
| 7HQ |
| |
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| NAME AND ADDRESS OF BROKER: |
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| Merchant Securities Limited, 51-55 Gresham Street, London EC2V |
| 7HQ |
| |
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| OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE |
| (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE |
| AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL |
| DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: |
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| Merchant Securities Limited, 51-55 Gresham Street, London EC2V |
| 7HQ and www.qonnectis.com |
| |
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| DATE OF NOTIFICATION: |
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| 14 July 2010 |
| |
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| NEW/ UPDATE: |
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| NEW |
| |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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