TIDMRMS
RNS Number : 9009M
Remote Monitored Systems PLC
11 January 2019
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
11 January 2019
Remote Monitored Systems plc ("Remote Monitored Systems", the
"Company" or the "Group")
Placing to raise GBP350,000; Directors' Participation; Total
Voting Rights
Remote Monitored Systems plc, the AIM quoted survey, inspection
and monitoring company, is pleased to announce the successful
completion of a placing (the "Placing") to raise GBP350,000 to
support the growth of the Company's core areas of business, to
provide working capital, and to leave the Company free of debt once
the final payment for the Pegasus equipment is made in March.
Placing
A total of 53,846,154 ordinary shares of 0.2p nominal value each
("Placing Shares") have been placed with investors at 0.65p per
share, a discount of approximately 10% to the closing mid-market
price on 10 January 2019. The Placing Shares are due to be admitted
to trading on or around 17 January 2019 with dealing commencing at
8:00 am.
Directors' Participation in the Placing
Nigel Burton, non-executive Chairman of the Company, has
subscribed GBP100,000 for 15,384,615 Shares. Following the issue of
the Placing Shares, Nigel Burton will have a beneficial interest in
26,098,900 Shares representing approximately 6.8% of the enlarged
issued share capital and total voting rights of the Company.
Trevor Brown, Executive Director of the Company, has subscribed
GBP100,000 for 15,384,615 Shares. Following the issue of the
Placing Shares, Trevor Brown will have a beneficial interest in
88,241,757 Shares representing approximately 22.8% of the enlarged
issued share capital and total voting rights of the Company.
Related Party Transaction
Nigel Burton and Trevor Brown, as Directors of the Company, are
considered to be "related parties" as defined under the AIM Rules
and accordingly, their participation in the Placing constitutes a
related party transaction for the purposes of Rule 13 of the AIM
Rules.
The Director independent of the Placing, being Paul Ryan
(Non-Executive Director), considers, having consulted with the
Company's nominated adviser, that the terms of Nigel and Trevor's
participations in the Placing are fair and reasonable insofar as
the Company's shareholders are concerned.
Total Voting Rights
Following the issue of the Placing Shares as described above
totalling 53,846,154 ordinary shares, the issued share capital of
the Company will consist of 386,313,844 ordinary shares. No shares
were held in treasury at the date of this announcement. The total
current voting rights in the Company are therefore 386,313,844.
Trevor Brown, CEO of Remote Monitored Systems plc, commented
"The funds raised will be utilised to promote the continuing growth
of both of our operating businesses. The significant participation
of the Board in the fundraise is an eloquent statement about our
confidence in the future."
We expect 2019 to be a period of strong growth for our two
operating businesses, Geocurve and Gyrometric, and this Placing
provides the resources necessary to fund that growth. Our objective
remains to minimise dilution and maximise growth in shareholder
value by controlling costs and focusing investment on growing our
sales teams whilst we continue to seek further opportunities to
enhance shareholder value."
ENQUIRIES:
Remote Monitored Systems plc
Trevor Brown (Executive Director) +41 7941 55384
Nigel Burton (Non-Executive Chairman) +44 7785 234447
SP Angel Corporate Finance LLP +44 20 3470 0470
Stuart Gledhill
Jeff Keating
Caroline Rowe
Peterhouse Capital Limited +44 20 7469 0930
Lucy Williams
Fungai Ndoro
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1. Details of the person discharging managerial responsibilities/person
closely associated
a) Name: Trevor Brown
--------------------------------- ---------------------------------------
2. Reason for the notification
--------------------------------------------------------------------------
a) Position/status: Executive Director
--------------------------------- ---------------------------------------
b) Initial notification/Amendment: Initial notification
--------------------------------- ---------------------------------------
3. Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name: Remote Monitored
Systems plc
--------------------------------- ---------------------------------------
b) LEI: 213800VR2P5DDQHYZO48
--------------------------------- ---------------------------------------
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
instrument, type of instrument: 0.2 pence each
Identification code: GB00BFX0ZN92
--------------------------------- ---------------------------------------
b) Nature of the transaction: Participation in
the Placing
--------------------------------- ---------------------------------------
c) Price(s) and volume(s): Price(s) Volume(s)
0.65p 15,384,615
-----------
--------------------------------- ---------------------------------------
d) Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 0.65p 15,384,615
-----------
--------------------------------- ---------------------------------------
e) Date of the transaction: 11 January 2019
--------------------------------- ---------------------------------------
f) Place of the transaction: Outside a trading
venue
--------------------------------- ---------------------------------------
Details of the person discharging managerial responsibilities/person
closely associated
Name: Nigel Burton
---------------------------------------
Reason for the notification
Position/status: Non-Executive Director
---------------------------------------
Initial notification/Amendment: Initial notification
---------------------------------------
Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Name: Remote Monitored
Systems plc
---------------------------------------
LEI: 213800VR2P5DDQHYZO48
---------------------------------------
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
Description of the financial Ordinary shares of
instrument, type of instrument: 0.2 pence each
Identification code: GB00BFX0ZN92
---------------------------------------
Nature of the transaction: Participation in
the Placing
---------------------------------------
Price(s) and volume(s): Price(s) Volume(s)
0.65p 15,384,615
-----------
---------------------------------------
Aggregated information: Single transaction
Aggregated volume: as in 4 c) above Price(s) Volume(s)
Price: 0.65p 15,384,615
-----------
---------------------------------------
Date of the transaction: 11 January 2019
---------------------------------------
Place of the transaction: Outside a trading
venue
---------------------------------------
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
DSHGGUWWGUPBGGG
(END) Dow Jones Newswires
January 11, 2019 06:40 ET (11:40 GMT)
Nanosynth (LSE:NNN)
Historical Stock Chart
From Apr 2024 to May 2024
Nanosynth (LSE:NNN)
Historical Stock Chart
From May 2023 to May 2024
