LightwaveRF PLC Result of General Meeting (2243S)
19 December 2016 - 10:30PM
UK Regulatory
TIDMLWRF
RNS Number : 2243S
LightwaveRF PLC
19 December 2016
19 December 2016
LightwaveRF Plc
(AIM: LWRF)
Result of General Meeting
LightwaveRF plc ("LightwaveRF" or the "Company"), the
proprietary IOT and connected devices specialist enabling the
remote control and monitoring of light, heat, power and security
through just one App announces that at the General Meeting of the
Company held today, all resolutions put to shareholders were duly
passed. Accordingly, the Conditional Subscription and Open Offer
announced on 21 November 2016 are expected to complete, conditional
on Admission, on 20 December 2016.
The Open Offer closed for applications at 11.00 a.m. on 15
December 2016 and as the Company announced on 16 December 2016,
valid applications under the Open Offer were received from
Qualifying Shareholders in excess of the 8,229,903 New Ordinary
Shares being offered. All excess applications will be satisfied in
full which will result in a further 1,598,985 shares being
issued.
The total amount subscribed by investors in the Fundraising is
approximately GBP1.33 million (before expenses) by way of:
-- the Conditional Subscription of 384,615 New Ordinary Shares
at 13 pence per share raising GBP0.05 million (before expenses);
and
-- a further issue of 9,828,888 New Ordinary Shares at 13 pence
per share to Qualifying Shareholders pursuant to the oversubscribed
Open Offer raising GBP1.28 million (before expenses)
Taken together the Conditional Subscription and Open Offer will
result in the allotment of a total of 10,213,503 New Ordinary
Shares.
Application for admission to trading on AIM of the 8,614,518 New
Ordinary Shares being issued pursuant to the Conditional
Subscription and Open Offer has been made and admission is expected
to take place on 20 December 2016. Application for the additional
1,598,985 New Ordinary Shares being issued in relation to excess
applications pursuant to the Open Offer has been made and admission
is expected to take place on 22 December 2016. The New Ordinary
Shares will rank pari passu with the existing Ordinary Shares in
issue.
In accordance with the provisions of the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority, the Company
confirms that, following these issues, its issued share capital
will comprise 38,769,031 Ordinary Shares of 5p each. All of these
Ordinary Shares have equal voting rights and none of the Ordinary
Shares are held in Treasury. The total number of voting rights in
the Company will therefore be 38,769,031 on Admission.
This announcement should be read in conjunction with the full
text of the Circular posted to Shareholders on 23 November 2016,
copies of which are available on the Company's website at
www.lightwaveRF.com. Capitalised terms in this announcement have
the same meaning as given in the Circular.
For further information:
LightwaveRF plc www.lightwaveRF.com
Mike Lord, CEO +44 (0) 121 250
Kevin Edwards, CFO 3625
WHIreland Limited www.whirelandplc.com
Mike Coe/Ed Allsopp (Corporate +44 (0) 117 945
Finance) 3470
Jasper Berry (Institutional +44 (0) 20 7220
Sales) 1666
This information is provided by RNS
The company news service from the London Stock Exchange
END
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