TIDMPSL
RNS Number : 8208M
Photonstar LED Group PLC
02 May 2018
2(nd) May 2018
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014 ("MAR").
In addition, market soundings (as defined in MAR) were taken in
respect of the New Share Placing with the result that certain
persons became aware of inside information (as defined in MAR), as
permitted by MAR. This inside information is set out in this
Announcement. Therefore, those persons that received inside
information in a market sounding are no longer in possession of
such inside information relating to the Company and its
securities.
PhotonStar LED Group Plc
Photonstar announces release of its next generation halcyon
cloudBMS product and launch of accelerated book build.
PhotonStar LED Group Plc (AIM: PSL, "PhotonStar" or "the
Group"), the British designer and manufacturer of intelligent
lighting and building control solutions, today announces the
successful release of its next generation v2 halcyon cloudBMS(TM)
product ("HalcyonV2"). The Group is also pleased to announce a
proposed placing via an accelerated book build, details of which
are provided below.
Version 2 of the Group's halcyon cloudBMS(TM) product
The Halcyon V2 platform is characterised by its low cost,
retrofit-able wireless monitoring and control platform,
halcyonPRO2(TM). The Group has also released a new halcyonPRO2
software version v925, which includes monitoring of emergency
lighting systems, energy clamps, leak detectors, water monitors and
critical asset -monitoring devices, augmenting the regulation of
heating and cooling, shading and lighting control of previous
versions of the software.
The Group believes that the Halcyon V2 platform and the latest
software release for halcyonPRO2(TM) will combine to deliver a
highly effective, scalable and secure Building Management System as
a service, via a low cost monthly subscription model that enables
building estate owners and managers to reduce energy and operating
costs and experience greater transparency across their operations
via data.
One of the key features of Halcyon V2 is its powerful data
analytics rules engine that allows notifications of asset
performance changes or faults to be shared with customers via email
and SMS. The Halcyon V2 platform provides solutions for remote
compliance reporting (e.g. emergency lighting testing and
legionella risk reduction via temperature monitoring). Energy
monitoring and reporting is also a key feature of Halcyon V2.
In addition, Halcyon V2 aims to prevent loss of trade in the
restaurant and hospitality industry by monitoring critical assets
such as walk-in freezers, air extraction systems, cooling and hot
water systems to allow predictive maintenance, thus reducing loss
of trade situations that arise from the sudden failure of these
systems. The Halcyon V2 platform also provides a full cloud based
environment for the monitoring of buildings including leaks, room
occupancy, temperature, CO(2) , humidity and noise. Finally,
Halcyon V2's technology has been developed in conjunction with
feedback which has been received from customers and now allows
advanced rules and notifications of potential problems via email
and SMS.
Accelerated Bookbuild to raise circa GBP450,000
The Group is also pleased to announce a proposed placing,
raising circa GBP450,000 (before expenses), via the issue of new
ordinary shares of 0.01p each ("Ordinary Shares") to new and
existing investors (the "New Share Placing").
The New Share Placing will provide PhotonStar with additional
working capital and will further strengthen the Company's balance
sheet ahead of the proposed roll out of Halcyon V2.
The New Share Placing is being offered by way of an accelerated
bookbuild ("Bookbuild"), which will be launched immediately
following this announcement. It is proposed that the New Share
Placing will be executed at a price of 0.3p per share (the "Placing
Price"). Peterhouse Capital Limited will be acting as bookrunner in
connection with the Bookbuild.
It is expected that the finalisation of the Bookbuild will
commence shortly after the Bookbuild's launch is announced and a
further announcement will be made to confirm its completion in due
course.
Dr James McKenzie, CEO of PhotonStar, said:
"We expect that the completion of the testing of Halcyon V2 will
allow the Group to progress beyond the various single site trials
that we currently have in place and roll-out its products across
multiple sites, as a solution to customers' operational cost
problems. The cloud-based compliance reporting, IoT data analytics
and fault notifications will mean that, once the system is
installed, site visits should be reduced to essential maintenance
work. We believe this will offer compelling cost savings for
building owners, primarily by reducing the number of site visits by
up to 90% in commercial buildings.
I believe this is a major milestone for the Group, and I would
like to thank our customers and shareholders for their patience and
continued support over the last year.
The success of both the trials for Halcyon V2 and the control
platform, halcyonPRO2(TM) represent a key development for
PhotonStar and highlight the Group's future growth prospects. I
look forward to providing shareholders with further updates in due
course."
For further information:
PhotonStar LED Group Plc (www.photonstarled.com)
James McKenzie - Group Chief Executive +44 (0)2381 230381
Northland Capital Partners Limited
David Hignell/Tom Price/Jamie Spotswood (Corporate
Finance)
John Howes/Rob Rees (Corporate Broking) +44 (0)20 3861 6625
Peterhouse Capital Limited
Duncan Vasey/ Fungai Ndoro +44 (0)20 7469 0930
About PhotonStar LED Group Plc
PhotonStar LED Group Plc is a leading British designer and
manufacturer of intelligent lighting & building control
solutions. The Group's proprietary technology Halcyon(TM) is a
scalable, secure wireless IoT platform for retrofit into commercial
buildings, for energy reduction, asset monitoring & control,
and real time environmental, behavioural and energy insights.
PhotonStar is based in Romsey, Hampshire.
This information is provided by RNS
The company news service from the London Stock Exchange
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