Trackwise Designs PLC Result of Placing and Posting of Circular (7256J)

TIDMTWD

RNS Number : 7256J

Trackwise Designs PLC

14 December 2022

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, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. FURTHER DETAILS OF THE FUNDRAISING ARE SET OUT BELOW.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF TRACKWISE DESIGNS PLC.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

TRACKWISE DESIGNS PLC

("Trackwise", the "Company" or the "Group")

Result of Placing

and

Posting of Circular

Trackwise Designs (AIM: TWD), a leading manufacturer of specialist products using printed circuit technology, is pleased to announce that further to the announcement made earlier today, due to exceptional demand in the Bookbuild, which has now closed, the Company has, in line with the Terms and Conditions of the Placing, increased the size of the Placing and Subscription to approximately GBP4.25 million pursuant to the Placing of 425,000,000 New Ordinary Shares and a Subscription of 300,000 New Ordinary Shares at an Issue Price of 1 pence per New Ordinary Share.

As part of the Fundraising, the Company also announced details of an Open Offer to be made to Qualifying Shareholders to raise up to an additional approximately GBP1.5 million at the Issue Price.

The Placing, Subscription and Open Offer are conditional on, amongst other matters, the passing of the Resolutions at the General Meeting. The Circular, which contains the Notice of General Meeting, in respect of the Fundraising, issue of Warrants, Capital Reorganistion and proposed adoption of new articles of association is expected to be posted by courier to Shareholders tomorrow and will also be available on the Company's website www.trackwise.co.uk .

Definitions

Capitalised terms used in this announcement have the meanings given to them in the announcement, released earlier today, unless the context provides otherwise.

Enquiries

 
 Trackwise Designs plc                            +44 (0)1684 299 930 
 Philip Johnston, CEO                             www.trackwise.co.uk 
 Paul Cook, CFO 
 
 finnCap Ltd                                      +44 (0)20 7220 0500 
 NOMAD and Broker 
 Ed Frisby/Fergus Sullivan - Corporate 
  Finance 
  Andrew Burdis/Barney Hayward - ECM 
 
 Alma PR                                          +44 (0)20 3405 0205 
 Financial PR and IR 
 David Ison/Caroline Forde/Josh Royston/Kieran 
  Breheny

Notes to editors

Trackwise is a UK-based manufacturer of specialist products using printed circuit technology.

The full suite includes: Improved Harness Technology(TM) ("IHT") and Advanced PCBs - Microwave and Radio Frequency ("RF"), Short Flex, Flex Rigid and Rigid Multilayer products.

IHT uses a proprietary, patented process that Trackwise has developed to manufacture multilayer flexible printed circuits of unlimited length. While the technology has many applications, the directors expect that one of its primary uses will be to replace traditional wire harnesses in a variety of industries.

The Company operates from three sites, located in Tewkesbury, Stonehouse and Stevenage. It serves customers in Europe and North America.

Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker TWD. For additional information please visit www.trackwise.co.uk

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END

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(END) Dow Jones Newswires

December 14, 2022 08:27 ET (13:27 GMT)

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