Water Intelligence PLC Issue of new shares in respect of Share Options (5617S)
16 Novembre 2021 - 1:22PM
UK Regulatory
TIDMWATR
RNS Number : 5617S
Water Intelligence PLC
16 November 2021
16 November 2021
Water Intelligence plc
("Water Intelligence" or the "Company")
Issue of new shares in respect of Share Options
Water Intelligence plc (AIM: WATR.L), a leading multinational
provider of non-invasive leak detection and remediation services
for both potable and non-potable water, announced on 12 November
2021 that it has raised GBP12.2m by way of a placing of 1,016,667
new ordinary shares of 1 penny each (the "Placing Shares") at 1,200
pence per share. The Company confirms that the Placing Shares are
expected to be admitted to trading on AIM ("Admission") at 8.00am
on 17 November 2021.
In addition, the Company announced that a franchisee had
requested to exercise their options over a further 25,000 new
ordinary shares of 1 penny each (the "Option Shares") and that the
Option Shares were to be sold on essentially the same terms as the
Placing Shares, for settlement on 17 November 2021, subject to
Admission (together with the Placing, the "Transaction").
As part of the Transaction, the Company now announces that both
the exercise of the options and sale of the Option Shares has been
cancelled and that the Company will instead issue and allot a
further 25,000 new ordinary shares ("New Ordinary Shares") to be
sold alongside the Placing Shares, the consideration for which will
be paid to the holder of the options in lieu of the issue of the
Option Shares. It is anticipated that the New Ordinary Shares will
be admitted to trading on AIM at the same time as the Placing
Shares, being 8.00 a.m. on 17 November 2021, with settlement also
on 17 November 2021. As a result of this transaction, the
franchisee has agreed that their option over 25,000 shares has also
been voided.
Total Voting Rights
As previously stated upon Admission, the issued share capital of
the Company will be 19,447,688 shares of 1 penny each ("Ordinary
Shares"), divided into 17,367,688 Ordinary Shares (of which 36,500
Ordinary Shares will be held by the Company in treasury) admitted
to trading on AIM and which entitle the holder to 1 vote per
ordinary share; and 2,080,000 B ordinary shares of 1 penny each
which are not admitted to trading on AIM but which otherwise rank
pari passu with the Ordinary Shares (save that they may not
participate in any distribution or return of capital until they are
fully paid).
Accordingly, the Company's total voting rights following
Admission will be 19,411,188 shares. This total voting rights
number may be used by shareholders at Admission as the denominator
for the calculations by which they will determine if they are
required to notify their interest in, or a change to their interest
in the Company under the FCA's Disclosure Guidance and Transparency
Rules.
The Placing Shares and the New Ordinary Shares, when issued,
will be fully paid and will rank pari passu in all respects with
the existing ordinary shares, including the right to receive all
dividends and other distributions declared, made or paid after the
date of issue.
Enquiries
Water Intelligence plc
Patrick DeSouza, Executive Chairman Tel: +1 203 654
5426
WH Ireland Limited - NOMAD and Joint Broker Tel: +44 (0) 207
220 1666
Adrian Hadden
Ben Good
RBC Capital Markets - Joint Broker
Jill Li Tel: +44 (0) 207
Elizabeth Evans 653 4000
Max Avison
Dowgate Capital Limited - Joint Broker Tel: +44 (0) 203
903 7715
Stephen Norcross
Russell Cook
Nicholas Chambers
Notes to Editors
About Water Intelligence
Water Intelligence plc (AIM: WATR.L) is a leading multinational
provider of precision, minimally-invasive leak detection and
remediation solutions for both potable and non-potable water.
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END
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