SAN RAMON, California,
Feb. 14, 2019 /PRNewswire/ --
WANdisco ("WANdisco" or the "Company") (LSE: WAND), the live
data company, is pleased to announce the subscription of 2,489,499
new ordinary shares of ten pence each
in the Company (the "Subscription Shares") by existing shareholders
at a price of 546 pence per share (a
premium of 9.2% on the closing share price on 13 February 2019) raising gross proceeds of
approximately $17.5 million (the
"Subscription"). This represents 5.85% of the entire existing share
capital of WANdisco and the Subscription Shares will be issued
under the Company's existing authorities. The proceeds will be
used to support our relationships with strategic cloud partners and
provide growth working capital.
The following investors participated in the Subscription (the
"Subscribers"):
- Merrill Lynch International
- Ross Creek Capital Management, LLC
- Global Frontier Partners, LP
- Davis Partnership, LP
- Acacia Institutional Partners LP
- Acacia Conservation Fund LP
- Acacia Conservation Master Fund (Offshore), LP
Each of the Subscribers has contractually agreed to a lock-in
with the Company pursuant to which the Subscribers have undertaken
not to dispose of their Subscription Shares following Admission at
any time prior to the twelve-month anniversary of Admission.
The shares will be issued pursuant to an exemption from
registration under the United States Securities Act of 1933, as
amended (the "Securities Act"). The securities to be sold in the
private placement have not been registered under the Securities Act
or state securities laws and may not be offered or sold in
the United States absent
registration with the Securities and Exchange Commission or an
applicable exemption from such registration requirements. This news
release does not constitute an offer to sell or a solicitation to
buy such securities in the United
States.
Current trading
WANdisco is also providing an update for FY18. Revenues are
expected to be in line with Board expectations. The Company had a
strong end to the year winning contracts across a variety of
end-markets and partners, including through Microsoft, IBM and
Amazon Web Services. Increasingly, these contracts are subscription
based, with the opportunity to scale the annualised value of
recurring revenues over time. The Company anticipates a cash
balance of approximately $10.7
million, as at 31 December
2018.
Admission
Application for the Subscription Shares to be admitted to
trading on AIM ("Admission") will be made in due course. It is
currently expected that settlement of all of the Subscription
Shares and Admission will take place at 8.00
a.m. on or around 20 February
2019. The Subscription is conditional upon, inter alia,
Admission becoming effective.
Total voting rights
The Subscription Shares will, when issued, rank pari
passu in all respects with, and will carry the same voting and
dividend rights as the existing ordinary shares. Following
Admission of the Subscription Shares, the Company's enlarged issued
share capital will comprise 45,037,502 voting ordinary shares. The
aforementioned figure of 45,037,502 voting ordinary shares may be
used by shareholders in the Company as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or change to their interest in, the share
capital of the Company under the Financial Conduct Authority's
Disclosure Guidance and Transparency Rules.
David Richards, Chief
Executive Officer and Chairman of WANdisco, commented:
"In 2018 we planned to expand our partner ecosystem and
fully leverage the power of this sales model, while carefully
controlling our costs. Our momentum in the second half has
continued into January and our sales pipeline is the largest in the
company's history. All of which, gives me confidence in our
prospects for 2019 and beyond. The $17.5
million placing announced today is an excellent example of
the Group's momentum, providing us with additional funding to
leverage a number of significant opportunities to expand our
existing partner relationships."
1
|
Details of the
person discharging managerial responsibilities/person closely
associated
|
a)
|
Name
|
Grant
Dollens
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
Non –Executive
Director of the Company and Global Frontier Partners, LP
|
b)
|
Initial
notification/Amendment
|
Initial
notification
|
3
|
Details of the
issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
|
a)
|
Name
|
WANdisco
plc
|
b)
|
LEI
|
213800Y1A75RSC698O04
|
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 instrument, type of instrument
|
Ordinary shares of
10p each
|
Identification
code
|
|
|
ISIN:
JE00B6Y3DV84
|
b)
|
Nature of the
transaction
|
Purchase of
shares
|
c)
|
Price(s) and
volume(s)
|
Price(s)
|
Volume(s)
|
546p
|
213,385
|
d)
|
Aggregated
information
|
|
-
|
Aggregated
volume
|
213,385
|
|
-
|
Price
|
546p
|
|
-
|
Aggregated
total
|
£1,165,082.1
|
|
|
|
e)
|
Date of the
transaction
|
14-Feb-19
|
f)
|
Place of the
transaction
|
London Stock Exchange
(XLON)
|
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR"). Upon the
publication of this announcement, this inside information is now
considered to be in the public domain. For the purposes of MAR and
Article 2 of Commission Implementing Regulation (EU) 2016/1055,
this announcement is being made on behalf of the Company by
David Richards, CEO and
Chairman.
For further information, please contact:
WANdisco
plc
|
via FTI
Consulting
|
David Richards, Chief
Executive Officer and Chairman
|
|
Erik Miller, Chief
Financial Officer
|
|
|
|
FTI
Consulting
|
+44
(0)20-3727-1137
|
Matt Dixon / Harry
Staight / Chris Birt / Kwaku Aning
|
|
Stifel (Nomad
and Joint Broker)
|
+44
(0)20-7710-7600
|
Fred Walsh / Neil
Shah / Alex Price / Rajpal Padam
|
|
|
|
Peel Hunt
(Joint Broker)
|
+44
(0)20-7418-8900
|
Edward Knight / Nick
Prowting
|
|
|
|
WH Ireland
Limited (Joint Broker)
|
+44
(0)20-7220-1666
|
Adam
Pollock
|
|
About WANdisco
WANdisco is the LiveData company that empowers enterprises to
revolutionize their IT infrastructure with its groundbreaking
distributed coordination engine (DConE) in the WANdisco Fusion
platform, enabling companies to generate hyperscale economics with
the same IT budget — across multiple development environments, data
centers, and cloud providers. WANdisco Fusion powers hundreds of
the Global 2000, including Cisco Systems, Allianz, AMD, Juniper,
Morgan Stanley and more. With significant OEM relationships with
IBM and Dell EMC and go-to-market partnerships with Amazon Web
Services, Cisco, Microsoft Azure, Google Cloud, Oracle, Alibaba and
other industry titans – WANdisco is igniting a LiveData
movement worldwide.
For more information on WANdisco,
visit http://www.wandisco.com