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RNS Number : 7425E
Modern Water PLC
10 November 2020
AIM share code: MWG
10 November 2020
Modern Water PLC
("Modern Water" or "Company")
Issue of Shares
Following the announcement yesterday by DeepVerge PLC
("DeepVerge") that the recommended all share offer by DeepVerge for
the entire issued and to be issued share capital of Modern Water
has been declared unconditional in all respects, Modern Water is
issuing 32,000,000 Modern Water Shares to Dr Nigel Burton and
Gerard Brandon pursuant to the terms of their director's service
contracts.
As previously announced, under the terms of Dr Nigel Burton's
service contract with Modern Water, he is entitled to receive his
salary of GBP30,000 per annum for the two years from 20 February
2020 in Modern Water Shares at an issue price of 0.5 pence per
Modern Water Share. Upon a change of control, these amounts fall
due to be settled, to the extent not already settled, by the issue
of 12,000,000 Modern Water Shares at an issue price of 0.5 pence
per Modern Water Share. Similarly Gerard Brandon is entitled to
receive his salary of GBP50,000 per annum for the two years from 4
March 2020 in Modern Water Shares at an issue price of 0.5 pence
per Modern Water Share. Upon a change of control, these amounts
fall due to be settled, to the extent not already settled, by the
issue of 20,000,000 Modern Water Shares at an issue price of 0.5
pence per Modern Water Share.
Application will be made for the admission of 32,000,000 new
Modern Water Shares to trading on AIM, and it is expected that
dealings in the New Shares will commence on or around 13 November
2020. On admission the new Modern Water Shares will rank pari passu
in all respects with the Modern Water Shares currently in
issue.
Total Voting Rights
Following the admission of the New Shares as described above,
the Company's issued share capital will consist of 556,693,214
Modern Water Shares, each with voting rights. The Company does not
hold any Ordinary Shares in Treasury.
The above figure of 556,693,214 may be used by shareholders in
the Company as the denominator for the calculation by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the share capital of the Company
under the FCA's Disclosure Guidance and Transparency Rules.
Words and expressions defined in the Offer Document shall,
unless the context provides otherwise, have the same meanings in
this announcement.
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
Contacts:
Simon Humphrey ,
Modern Water plc CEO +44 (0)20 3827 3439
Sandy Jamieson
Cairn Financial Advisers James Lewis
LLP (Nominated Adviser) Ludovico Lazzaretti +44 (0)20 7213 0880
---------------------- --------------------
Turner Pope Investments Andy Thacker / Zoe
(TPI) Limited (Broker) Alexander +44 (0)20 3657 0050
---------------------- --------------------
About Modern Water
Modern Water was established in 2006 to develop and
commercialise water recovery technologies to counter water crisis
problems arising from climate change and a growing global
population. Having invested GBP20m over the last 14 years, the
results comprise a robust patent portfolio of cutting-edge
technology, focused on monitoring of contaminated water and
decontamination of wastewater, making recycling of water more
efficient. Six countries across the world have legislated that
Modern Water monitoring test systems are written into their
environmental protection legislation.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------------------------
a. Name a ) Gerry Brandon
b) Nigel Burton
------------------------------------- --------------------------------------------------
2 Reason for notification
------------------------------------- --------------------------------------------------
a. Position/Status a) Non-Executive Chairman
b) Non-Executive Director
------------------------------------- --------------------------------------------------
b. Initial notification/ Initial notification
Amendment
------------------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a. Name Modern Water
------------------------------------- --------------------------------------------------
b. LEI 213800MTSDJQ13UBC211
------------------------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-----------------------------------------------------------------------------------------
a. Description of
the financial Ordinary shares of GBP0.0025 each
instrument, type
of instrument
Identification ISIN: GB00B1XF5X66
Code
------------------------------------- --------------------------------------------------
b. Nature of the Issue of shares
transaction
------------------------------------- --------------------------------------------------
c. Price(s) and volume(s) Price(s) Volume(s)
per
share
------------------------------------- -----------------
a) 0.5p a) 20,000,000
b) 0.5p b) 12,000,000
----------------- ----------------------------
Aggregated information
- Aggregated Volume 32,000,000
d. - Price 0.5p
------------------------------------- --------------------------------------------------
e. Date of the transaction 9/11/2020
------------------------------------- --------------------------------------------------
f. Place of the transaction London
------------------------------------- --------------------------------------------------
Notification of a Transaction pursuant to Article 19(1) of Regulation
(EU) No. 596/2014
1 Details of the person discharging managerial responsibilities/person
closely associated
-----------------------------------------------------------------------------------------
a. Name a ) Gerry Brandon
b) Nigel Burton
c) Simon Humphrey
------------------------------------- --------------------------------------------------
2 Reason for notification
------------------------------------- --------------------------------------------------
a. Position/Status a) Non-Executive Chairman
b) Non-Executive Director
c) Executive Director
------------------------------------- --------------------------------------------------
b. Initial notification/ Initial notification
Amendment
------------------------------------- --------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------------
a. Name Modern Water
------------------------------------- --------------------------------------------------
b. LEI 213800MTSDJQ13UBC211
------------------------------------- --------------------------------------------------
4 Details of the transaction(s): section to be repeated for
(i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions have
been conducted
-----------------------------------------------------------------------------------------
a. Description of
the financial Ordinary shares of GBP0.0025 each
instrument, type
of instrument
Identification ISIN: GB00B1XF5X66
Code
------------------------------------- --------------------------------------------------
b. Nature of the Disposal of current shareholding in exchange
transaction for DeepVerge plc Shares pursuant to the
Offer by DeepVerge plc
------------------------------------- --------------------------------------------------
c. Price(s) and volume(s) Volume(s)
------------------------------------- -----------------
a) 10,000,000
b) 4,300,000
c) 1,882,000
----------------- ----------------------------
Aggregated information
d. - Aggregated Volume 16,182,000
------------------------------------- --------------------------------------------------
e. Date of the transaction 9/11/2020
------------------------------------- --------------------------------------------------
f. Place of the transaction London
------------------------------------- --------------------------------------------------
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END
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