Location Sciences Group PLC Result of Open Offer (4317K)
14 December 2018 - 1:30AM
UK Regulatory
TIDMLSAI
RNS Number : 4317K
Location Sciences Group PLC
13 December 2018
Prior to publication, this announcement contained inside
information within the meaning of Article 7 of the EU Market Abuse
Regulation 596/2014. With the publication of this announcement,
this information is now considered to be in the public domain
13 December 2018
Location Sciences Group PLC
("Location Sciences" or the "Company")
Result of Open Offer
Highlights
-- Gross proceeds of GBP188,748 raised in the Open Offer
-- In aggregate, the Company has raised a total of GBP2.95
million in the Placing and Open Offer
-- Net proceeds of the Placing and Open Offer to be used
primarily to seek to deliver the potential of the Company's Verify
product globally, particularly in the United States
Open Offer
Further to the Company's announcements of 26 November 2018,
Location Sciences Group PLC (AIM: LSAI), a leading mobile location
data intelligence company, announces that it has raised gross
proceeds of GBP188,748 in the Open Offer, which closed for
acceptances at 10.00 a.m. today. The Company received valid
acceptances from Qualifying Shareholders in respect of 8,388,780
Open Offer Shares, including applications for 2,527,706 Open Offer
Shares under the Excess Application Facility. This represents 40.0
per cent. of the maximum Open Offer Shares available under the Open
Offer.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange for the
admission of the 8,388,780 Open Offer Shares to trading on AIM
("Admission"). Admission is expected to occur at 8.00 a.m. on 14
December 2018. The 8,388,780 Open Offer Shares will, on Admission,
rank pari passu with the Company's existing Ordinary Shares.
Following Admission, the Enlarged Share Capital will comprise
341,044,439 Ordinary Shares. This figure may be used by
shareholders as the denominator for the calculations by which they
will determine whether they are required to notify their interests
in, or a change to their interest in, the Company under the
Financial Conduct Authority's Disclosure Guidance and Transparency
Rules.
Verify
The Company has now raised, in aggregate, GBP3.36 million
(before expenses) since 14 June 2018. Location Sciences will use
the net proceeds of the Placing and the Open Offer primarily to
seek to deliver the potential of the Company's Verify product
globally, particularly in the United States.
The Company successfully launched its platform 'Verify' earlier
this year to combat location ad-fraud. Verify protects advertisers
against location ad-fraud by ensuring their location-based adverts
are delivered to their intended audiences.
Mark Slade, Chief Executive Officer, of Location Sciences,
commented: "We are pleased to have raised a further GBP0.2 million
through the Open Offer to further drive our leadership in ad
location data verification. This is a significant milestone in the
business and we would like to thank our shareholders for their
continued support. We are excited for what 2019 has in store, as we
continue to invest in our products, expand internationally and
develop our team."
New investors who are seeking to apply for Enterprise Investment
Scheme tax reliefs, can contact the Company for further information
via the following email address: eis@locationsciences.ai
Save as defined herein, capitalised terms used in this
announcement have the same meaning as in the Open Offer Circular,
posted to Qualifying Shareholders on 27 November 2018.
For further information please contact:
Location Sciences Group PLC via Milk and Honey PR
Mark Slade, Chief Executive
Officer
David Rae, Chief Financial
Officer
Stockdale Securities Limited Tel: +44 (0)20 7601 6100
Tom Griffiths
Ed Thomas
Milk & Honey PR Tel: +44 (0)20 3637 7310
Kirsty Leighton
Harriet King
About Location Sciences Group PLC:
Location Sciences is a leading mobile location data intelligence
company. Through its machine learning and pattern recognition
expertise, Location Sciences provides its customers with a range of
services, including location verification, online to offline
attribution, out of home (OOH) solutions, location planning and
consumer behaviour insights.
Verify is a bespoke solution built by Location Sciences to
extract the full value of location-based advertising campaigns.
Verify protects advertisers against location ad-fraud by ensuring
their location-based adverts are targeting the right audiences.
Through Verify, advertisers have access to real time insights into
how their advertising campaigns are performing, enabling them to
cut wastage and enhance effectiveness.
Location Sciences works in partnership with brands, agencies,
OOH media owners and technology partners to extract the full value
of mobile location data.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCZMMMZDFZGRZM
(END) Dow Jones Newswires
December 13, 2018 09:30 ET (14:30 GMT)
Location Sciences (LSE:LSAI)
Historical Stock Chart
From Apr 2024 to May 2024
Location Sciences (LSE:LSAI)
Historical Stock Chart
From May 2023 to May 2024