Utilitywise plc Secondary Placing of Ordinary Shares (1050P)
19 October 2012 - 9:48PM
UK Regulatory
TIDMUTW
RNS Number : 1050P
Utilitywise plc
19 October 2012
Utilitywise plc
("Utilitywise" or the "Company")
Secondary Placing of Ordinary Shares in Utilitywise plc
Utilitywise announces that, in order to satisfy market demand
and broaden the shareholder base of the Company, finnCap, as the
Company's broker, have today conducted an oversubscribed placing of
13,466,669 existing ordinary shares of 1p in the Company (the
"Placing Shares" and the "Placing") with new and existing
institutional investors.
The Placing Shares have been sold on behalf of certain directors
of the Company ("Director Vendors") as set out below, and Hub
Capital Partners Limited ("Hub Capital") financial adviser to the
Company and of which Richard Feigen (non-executive chairman of the
Company) is also a director. The Placing Shares were sold at a
price of 75p per share and represent, in aggregate 21.8 per cent.
of the issued share capital of Utilitywise. Mr Feigen is not
participating in the Placing and his direct holding of 66,667
ordinary shares (representing 0.1% of the Company's issued share
capital) is unchanged.
Subsequent to the Placing, the Director Vendors and Richard
Feigen (together with Hub Capital) are interested in a total of
58.4 per cent. of the Company's issued share capital. All ordinary
shares held by the Director Vendors subsequent to the Placing will
remain subject to the lock-in obligations set out in the Company's
admission document dated 6 June 2012 (the "Admission
Document").
Placing Resultant shareholding
Shareholder No. of Placing As % of issued No. of Ordinary As % of issued
Shares share capital Shares share capital
Geoff Thompson 9,333,334 15.1% 25,130,524 40.7%
Adam Thompson 2,666,667 4.3% 7,180,150 11.6%
Andrew Richardson 1,333,334 2.2% 3,590,075 5.8%
Richard Feigen(*) 133,334 0.2% 188,638 0.3%
Total 13,466,669 21.8% 36,089,387 58.4%
* Represents 133,334 ordinary shares being placed on behalf of
Hub Capital
Pursuant to the terms of the lock-in obligations set out in the
Admission Document: (i) the Director Vendors have been released
from their respective lock-in obligations by finnCap to the extent
of the Placing Shares sold in the Placing; (ii) Hub Capital have
been released from their lock-in undertakings by the Company and
finnCap; and (iii) finnCap has been released from its lock-in
obligations by the Company.
For further information:
Utilitywise PLC 0870 626 0559
Geoff Thompson, CEO
Adam Thompson, COO
Andrew Richardson, CFO
finnCap (NOMAD and broker) 0207 220 0500
Matt Goode / Charlotte Stranner / Henrik Persson
(Corporate Finance)
Simon Johnson (Corporate Broking)
Newgate Threadneedle 020 7653 9850
Josh Royston / John Coles / Hilary Millar
This information is provided by RNS
The company news service from the London Stock Exchange
END
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