TIDMWATR
RNS Number : 7151Y
Water Intelligence PLC
10 May 2019
THIS ANNOUNCEMENT (INCLUDING THE APPIX) AND THE INFORMATION
CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN,
INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Water Intelligence plc
("Water Intelligence" or the "Company")
Completion of Fundraise
PDMR Dealing
Water Intelligence, a leading provider of non-invasive leak
detection and remediation services, is pleased to confirm that,
further to the Company's announcement earlier today, it has raised
GBP3.2 (the "Fundraising") in an oversubscribed placing and
subscription, through the issue of an aggregate of 863,402 new
ordinary shares of one penny each in the capital of the Company
("Ordinary Shares") at a price of 370 pence per Ordinary Share (the
"Issue Price").
The fundraising (the "Fundraising") comprised a placing (the
"Placing") of 500,000 new Ordinary Shares ("Placing Shares") to
raise GBP1.85 million and a subscription (the "Subscription") of
363,402 Ordinary Shares ("Subscription Shares") to raise a total of
approximately GBP1.3 million. In addition, Patrick DeSouza,
executive chairman of the Company, and persons closely associated
with him, have agreed to exercise 300,000 options over Ordinary
Shares and David Silverstone has agreed to exercise 50,000 options
over Ordinary Shares ("Exercise Shares") and all have agreed to
sell these to incoming investors from the Subscription at the Issue
Price (the Placing Shares, Subscription Shares and Exercise Shares,
together the "New Ordinary Shares") (the "Share Transaction").
Michael Reisman and Laura Hills purchased 4,153 and 24,919 newly
issued Ordinary Shares through the Subscription.
All terms used in this announcement are the same, unless
otherwise specified, as those in the Company's earlier announcement
today launching the Fundraising.
Dr. Patrick DeSouza, Executive Chairman of Water Intelligence,
commented:
"We are delighted that investors on both sides of the Atlantic
have continued to support us in growing the Company with GBP3.2
million. Combined with the expansion of bank financing facilities
previously announced that provide $5.7 million of availability, we
expect to have financial wherewithal to accelerate our growth
strategy: organic growth in locations across the US, UK, Australia
and Canada; strategic franchise reacquisitions; and extension of
our business-to-business and municipal channels that leverage our
sales footprint in excess of $100m. On behalf of our team, I am
grateful for the support, not only from our existing investors, who
have invested again in this round, but also to our new investors
with whom we can create value and share this exciting journey to
provide infrastructure solutions for the world's most precious
natural resource."
Director Shareholdings
Patrick DeSouza, and persons closely associated with him, have
exercised 300,000 options over Ordinary Shares at a weighted
average exercise price of $1.19 and sold these immediately at the
Issue Price to incoming investors.
Following the above transactions and the issue of the Partly
Paid Shares to Patrick DeSouza, his interest in the voting rights
of the Company will be 5,042,110 (split as to 2,842,110 Ordinary
Shares and 2,200,000 Partly Paid Shares), equivalent to 29.80% of
the issued share capital of the Company, at Admission.
David Silverstone has exercised 50,000 options over Ordinary
Shares at an exercise price of $1.26 and sold these immediately at
the Issue Price. Following this sale, Mr. Silverstone has no
interest in the issued share capital of the Company.
Non-Executive Directors Michael Reisman and Laura Hills have
converted their respective 2019 director fees into newly issued
ordinary shares for 4,153 Ordinary Shares each, pursuant to the
Subscription. In addition, Laura Hills has also subscribed for
20,766 Ordinary Shares pursuant to the Subscription. Following the
Fundraising, Mr. Reisman will hold 177,599 Ordinary Shares,
representing 1.05% of the issued share capital of the Company, at
Admission and Laura Hills will hold 114,230 Ordinary Shares,
representing 0.68% of the issued share capital of the Company, at
Admission.
Admission and Total Voting Rights
Application will be made for the New Ordinary Shares to be
admitted to trading on the AIM market ("AIM") of the London Stock
Exchange ("Admission"). Settlement for the New Ordinary Shares and
Admission is expected to take place at 8.00 a.m. on 17 May 2019.
The Fundraising is conditional, among other things, upon Admission
becoming effective and the placing agreement between the Company,
WH Ireland Limited and Dowgate Capital Limited (the "Placing
Agreement") not being terminated in accordance with its terms.
Following Admission, the issued share capital of the Company is
16,947,371 shares, divided into 14,722,371 ordinary shares of 1
penny each which are admitted to trading on AIM and which entitle
the holder to one vote per ordinary share; 2,200,000 A Ordinary
Shares of 1 penny each which are not admitted to trading on AIM,
but do still entitle to holder to one vote per ordinary share, but
no economic rights; and 25,000 Ordinary Shares held by the Company
in Treasury. Accordingly, the Company's total voting rights are
16,922,371 shares. This total voting rights number may be used by
shareholders at Admission as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company under the
FCA's Disclosure Guidance and Transparency Rules.
The New Ordinary Shares, when issued, will be fully paid and
will rank pari passu in all respects with the existing Ordinary
Shares, including the right to receive all dividends and other
distributions declared, made or paid after the date of issue.
Enquiries:
Water Intelligence plc
Patrick DeSouza (Executive Chairman) Tel: +1 203 654
Adrian Hargrave (VP, Corporate Development) 5426
Tel: +44 (0)7775
701 838
WH Ireland Limited
Adrian Hadden Tel: 020 7220 1666
James Sinclair-Ford
Matthew Chan
Dowgate Capital Limited Tel: 020 3903 7715
Stephen Norcross
IFC Advisory Limited Tel: 020 3934 6630
Graham Herring
Miles Nolan
Zach Cohen
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
1. Details of the PDMR / person closely associated
a) Name Patrick DeSouza
------------------------- -----------------------------
2. Reason for the notification
--------------------------------------------------------
a) Position Executive Chairman
/ status
------------------------- -----------------------------
b) Initial notification Initial notification
/ amendment
------------------------- -----------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--------------------------------------------------------
a) Name Water Intelligence plc
------------------------- -----------------------------
b) LEI 213800AL3BNXJ1HQLP10
------------------------- -----------------------------
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 Partly Paid Shares
of the financial Ordinary Shares
instrument, Option over Ordinary Shares
type of instrument GB00BZ973D04
Identification
code
------------------------- -----------------------------
b) Nature of Issue of Partly Paid Shares
the transaction Exercise of Options
Sale of Ordinary Shares
------------------------- -----------------------------
c) Price(s) 850,000 Partly Paid Shares
and volume(s) at 1p each
150,000 Options exercised
at $1.14
50,000 Options exercised
at $1.30
50,000 Options exercised
at $1.26
250,000 Ordinary Shares
sold at 370p
------------------------- -----------------------------
d) Aggregated See above
information
* Aggregated volume
* Price
------------------------- -----------------------------
e) Date of the 10 May 2019
transaction
------------------------- -----------------------------
f) Place of London Stock Exchange,
the transaction AIM Market
------------------------- -----------------------------
1. Details of the PDMR / person closely associated
a) Name Frances DeSouza
------------------------- ----------------------------
2. Reason for the notification
-------------------------------------------------------
a) Position Spouse of Patrick deSouza
/ status
------------------------- ----------------------------
b) Initial notification Initial notification
/ amendment
------------------------- ----------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
-------------------------------------------------------
a) Name Water Intelligence plc
------------------------- ----------------------------
b) LEI 213800AL3BNXJ1HQLP10
------------------------- ----------------------------
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 Option over Ordinary Shares
of the financial Ordinary Shares
instrument, GB00BZ973D04
type of instrument
Identification
code
------------------------- ----------------------------
b) Nature of Exercise of options
the transaction
------------------------- ----------------------------
c) Price(s) 25,000 Options exercised
and volume(s) at $1.14
25,000 Options exercised
at $1.24
50,000 Ordinary Shares
sold at 370p
------------------------- ----------------------------
d) Aggregated See above
information
* Aggregated volume
* Price
------------------------- ----------------------------
e) Date of the 10 May 2019
transaction
------------------------- ----------------------------
f) Place of London Stock Exchange,
the transaction AIM Market
------------------------- ----------------------------
1. Details of the PDMR / person closely associated
a) Name Laura Hills
------------------------- -----------------------------
2. Reason for the notification
--------------------------------------------------------
a) Position PDMR
/ status
------------------------- -----------------------------
b) Initial notification Initial notification
/ amendment
------------------------- -----------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--------------------------------------------------------
a) Name Water Intelligence plc
------------------------- -----------------------------
b) LEI 213800AL3BNXJ1HQLP10
------------------------- -----------------------------
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 Ordinary Shares
of the financial
instrument,
type of instrument GB00BZ973D04
Identification
code
------------------------- -----------------------------
b) Nature of Purchase of Ordinary Shares
the transaction Issue of Ordinary Shares
in lieu of Director's fee
------------------------- -----------------------------
c) Price(s) 4,153 Ordinary Shares issued
and volume(s) at 370 pence per share
20,766 Ordinary Shares
purchased at 370 pence
per share
------------------------- -----------------------------
d) Aggregated See above
information
* Aggregated volume
* Price
------------------------- -----------------------------
e) Date of the 10 May 2019
transaction
------------------------- -----------------------------
f) Place of London Stock Exchange,
the transaction AIM Market
------------------------- -----------------------------
1. Details of the PDMR / person closely associated
a) Name Michael Reisman
------------------------- -----------------------------
2. Reason for the notification
--------------------------------------------------------
a) Position PDMR
/ status
------------------------- -----------------------------
b) Initial notification Initial notification
/ amendment
------------------------- -----------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--------------------------------------------------------
a) Name Water Intelligence plc
------------------------- -----------------------------
b) LEI 213800AL3BNXJ1HQLP10
------------------------- -----------------------------
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 Ordinary Shares
of the financial
instrument,
type of instrument GB00BZ973D04
Identification
code
------------------------- -----------------------------
b) Nature of Issue of Ordinary Shares
the transaction in lieu of Director's fee
------------------------- -----------------------------
c) Price(s) 4,153 Ordinary Shares issued
and volume(s) at 370 pence per share
------------------------- -----------------------------
d) Aggregated N/A (single transaction)
information
* Aggregated volume
* Price
------------------------- -----------------------------
e) Date of the 10 May 2019
transaction
------------------------- -----------------------------
f) Place of London Stock Exchange,
the transaction AIM Market
------------------------- -----------------------------
1. Details of the PDMR / person closely associated
a) Name David Silverstone
------------------------- -----------------------------
2. Reason for the notification
--------------------------------------------------------
a) Position PDMR
/ status
------------------------- -----------------------------
b) Initial notification Initial notification
/ amendment
------------------------- -----------------------------
3. Details of the issuer, emission allowance
market participant, auction platform,
auctioneer or auction monitor
--------------------------------------------------------
a) Name Water Intelligence plc
------------------------- -----------------------------
b) LEI 213800AL3BNXJ1HQLP10
------------------------- -----------------------------
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 Options over Ordinary Shares
of the financial Ordinary Shares
instrument,
type of instrument
Identification GB00BZ973D04
code
------------------------- -----------------------------
b) Nature of Exercise of Options
the transaction Sale of Ordinary Shares
------------------------- -----------------------------
c) Price(s) 50,000 options exercised
and volume(s) at $1.26
50,000 Ordinary Shares
sold at 370p
------------------------- -----------------------------
d) Aggregated As above
information
* Aggregated volume
* Price
------------------------- -----------------------------
e) Date of the 10 May 2019
transaction
------------------------- -----------------------------
f) Place of London Stock Exchange,
the transaction AIM Market
------------------------- -----------------------------
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
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May 10, 2019 09:43 ET (13:43 GMT)
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