LightwaveRF PLC Director's Disclosure (5165N)
25 September 2019 - 1:03AM
UK Regulatory
TIDMLWRF
RNS Number : 5165N
LightwaveRF PLC
24 September 2019
LightwaveRF plc
("LightwaveRF" or the "Company")
Director's Disclosure
LightwaveRF plc (AIM: LWRF), the leading smart homes solutions
provider, announces that, further to the Director's Dealing
announcement of 19 September 2019 ("Announcement"), it has now
established the reasons for the error in the previously disclosed
shareholding in the Company of Mike Lord, Non-executive
Director.
As reported in the Announcement, the number of ordinary shares
in the Company disclosed as held by Mike Lord had been understated
by 76,300. Following an investigation, the Company has now been
able to identify that this understatement comprised two
elements.
The first element relates to a discrete account holding of
54,500 shares which had arisen on consolidation of the Company
shares on 3 April 2014. Although the acquisition of these shares
had been fully disclosed at the time of the original purchase they
were not properly identified at the time of the share consolidation
and, as a result, an appropriate market disclosure was not made at
that time.
The second element relates to 21,800 shares acquired at 13.0
pence per share on 20 December 2016. These shares were acquired by
a discretionary fund manager acting for Mr. Lord pursuant to the
Company's open offer announced on 21 November 2016. The
discretionary fund manager did not notify Mr. Lord of this purchase
so he, in turn, failed to inform the Company. As a result, an
appropriate market disclosure was not made at that time.
Following this clarification, Mike Lord has re-confirmed that
his total interest in the Company comprises 1,376,300 Shares,
representing approximately 1.14 per cent. of the Company's issued
share capital.
For further information:
LightwaveRF plc www.lightwaveRF.com
Barry Gamble, Non-Executive Chairman +44 (0) 121 250 3625
Jason Elliott, CEO
Kevin Edwards, CFO
Shore Capital www.shorecap.co.uk
Tom Griffiths/David Coaten +44 (0) 20 7408 4090
-----------------------
Yellow Jersey PR www.yellowjerseypr.com
Charles Goodwin/Annabel Atkins +44 (0) 7747 788 221
-----------------------
About LightwaveRF
LightwaveRF plc ("Lightwave") is the UK's only fully integrated
home automation company.
New customers typically buy a starter pack of Link Plus hub and
smart dimmer which has Apple HomeKit compatibility, 2-way
communication and built-in energy monitoring. Later adding other
easy to install devices from the Lightwave range enables further
in-home control, monitoring and automation of lighting, heating and
power.
Devices may be operated manually, by smartphone or tablet-based
apps and also through Google Assistant and Amazon Alexa voice
control.
Leading tech industry publication 9to5 Mac describes Lightwave
as "the best UK HomeKit solution for smart lighting".
For further information and "Newsletter sign up", please visit:
www.lightwaverf.com/corporate/
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END
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