TIDMLIB
RNS Number : 5535W
Libertine Holdings PLC
23 December 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES
AND DEPENDENCIES, ANY STATE OF THE UNITED STATES AND THE DISTRICT
OF COLUMBIA) (COLLECTIVELY, THE "UNITED STATES"), CANADA,
AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC
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CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW
23 December 2021
Libertine Holdings PLC
("Libertine" the "Company" or the "Group")
Admission to Trading on AIM, First Day of Dealings
Libertine Holdings PLC, a developer of clean, highly efficient
and fuel-flexible Linear Generator products, is pleased to announce
the admission of its entire issued and to be issued ordinary share
capital to trading on the AIM market of the London Stock Exchange
("Admission"). Admission will take place and dealings will commence
at 8.00 am GMT today under the ticker LIB and ISIN GB00BN6PSG15
.
Founded in 2009, the Group has developed a technology solution
for powertrain original equipment manufacturers, enabling efficient
and clean power generation from renewable fuels. Under the Placing,
the Company has conditionally raised GBP9 million (before expenses)
. The net proceeds will provide the Company with funds to increase
headcount to support business development and commercial project
delivery, enhance the Group's technology platform for integration
into customer products, and expand the Group's existing operating
facilities to provide further testing and prototype build
capacity.
Admission follows a successful placing by Panmure Gordon (UK)
Limited ("Panmure Gordon"), of 45,000,000 new ordinary shares (the
"Placing Shares") of 0.1 pence each in the capital of the Company
(the "Shares") at a price of 20 pence per share (the "Placing
Price") raising gross proceeds of GBP9.0 million. On Admission the
Company will have a market capitalisation of approximately GBP27.6
million and 138,089,010 Shares in issue.
The Company's Admission Document is available to view on the
Company's website at https://libertine.co.uk/ .
Sam Cockerill, Chief Executive of Libertine, commented:
"The successful completion of our IPO represents an exciting
milestone and marks the beginning of the next phase for Libertine,
building on our recent technical and commercial progress. This new
investment will allow us to expand our core technology development
and business development activities as we work with OEM partners to
create Linear Generator products that will work alongside battery
electrification to produce clean power from renewable fuels.
"I am delighted to welcome our new shareholders and would like
to thank them for their support and for sharing our vision. We look
forward to working with them in the years ahead, building on our
strong foundations and delivering our growth plans as we help our
OEM partners realise the full potential of Linear Generator
technology."
For more information, please visit www.libertine.co.uk or
contact:
Libertine Holdings plc via Tavistock
Sam Cockerill, Chief Executive Officer
Gareth Hague, Chief Financial Officer
Panmure Gordon (NOMAD and Broker) +44 20 7886 2500
John Prior
Ailsa Macmaster
Hugh Ruch (Corporate Broking)
Tavistock (Public Relations) +44 207 920 3150
Simon Hudson libertine @tavistock.co.uk
Rebecca Hislaire
Nick Elwes
Notes to editors
Founded in 2009, Libertine has developed a technology solution
for powertrain original equipment manufacturers ("OEMs"), enabling
efficient and clean power generation from renewable fuels.
Libertine's linear electrical machines, controls and developer
tools together form a technology platform (intelliGEN(TM)) which
the Company provides to OEM customers for the development of clean,
highly efficient and fuel-flexible Linear Generator products. The
platform is a result of over a decade of development of Linear
Generator technology with multiple successful client-led
development programmes.
Linear Generators have the potential to complement battery
electrification within hybrid powertrains as range extenders,
addressing a number of significant practical and economic barriers
to the rapid adoption of clean electric propulsion using battery
electric powertrain technology alone.
The potential market for Linear Generator products goes well
beyond the distributed power generation applications where Linear
Generators are already in commercial use today. The addressable
market for Linear Generators includes over 12 million heavy-duty
and light duty commercial vehicles as well as off-grid,
waste-to-energy, energy storage and other distributed power
generation applications, which in total are estimated to be worth
between $80-120 billion by 2025.
Linear Generator products using Libertine's technology could
work alongside battery electrification in hybrid systems to
accelerate the decarbonisation of 'hard to electrify' applications,
including:
-- heavy-duty and off highway powertrains;
-- medium and light-duty commercial hybrid vehicles;
-- a proportion of the passenger automotive market where vehicle
use, and recharging constraints are a barrier to electrification;
and
-- a range of distributed power generation applications.
Libertine receives engineering fees by providing linear
e-machine hardware, controls and developer tools. Working with OEMs
ensures Libertine's technology platform is effectively integrated
into OEM partner product development programmes from an early stage
in the development cycle, maximising the performance and economic
benefits provided by Libertine's platform technology.
Libertine has developed a portfolio of over 30 granted patents
in addition to a significant body of technical know-how since the
company's formation in 2009. The Company's senior management team
and board includes executives with decades of deep technical
experience in the automotive and energy industries.
Important Notices
This announcement is for information purposes only and does not
constitute, or form part of, any offer or invitation to sell, allot
or issue, or any solicitation of any offer to purchase or subscribe
for, any securities in the Company in any jurisdiction nor shall
it, or any part of it, or the fact of its distribution, form the
basis of, or be relied on in connection with or act as an
inducement to enter into, any contract or commitment therefor.
Panmure Gordon which is authorised and regulated by the
Financial Conduct Authority in the United Kingdom, is acting
exclusively for the Company and no-one else in connection with the
Placing and Admission. Panmure Gordon will not regard any other
person as its client in relation to the Placing or Admission and
will not be responsible to anyone other than the Company for
providing the regulatory protections afforded to its clients, nor
for providing advice in relation to the contents of this
announcement or any transaction, arrangement or other matter
referred to herein. The responsibility of Panmure Gordon as
nominated adviser to the Company is owed solely to the London Stock
Exchange and is not owed to the Company or any director of the
Company or to any other person in respect of such person's decision
to acquire shares in the Company. To the fullest extent permitted
by law, no representation or warranty, express or implied, is made
by Panmure Gordon as to the contents of this announcement or any
matter, transaction or arrangement referred to in it, and no
liability whatsoever is accepted by Panmure Gordon for the accuracy
of any information or opinions contained in this announcement or
for the omission of any material information for which it is not
responsible.
This announcement is not for publication or distribution, in
whole or in part, directly or indirectly, in or into the United
States, Australia, Canada, the Republic of South Africa, the
Republic of Ireland, New Zealand, Japan or any other jurisdiction
where to do so would constitute a violation of the relevant laws of
such jurisdiction. The distribution of this announcement may be
restricted by law in certain jurisdictions and persons into whose
possession any document or other information referred to herein
comes should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
This announcement does not form the basis of or constitute any
offer or invitation to sell or issue, or any solicitation of any
offer to purchase or subscribe for any Ordinary Shares or any other
securities nor shall it (or any part of it) or the fact of its
distribution, form the basis of, or be relied on in connection
with, any contract or commitment therefor. In particular, this
announcement does not constitute an offer to sell, or a
solicitation of an offer to buy, Ordinary Shares in the United
States.
For the avoidance of doubt, the contents of the Company's
websites are not incorporated by reference into, and do not form
part of, this announcement.
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END
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