LightwaveRF Expands Open Offer Of Shares To Meet Excess Demand (ALLISS)

LONDON (Alliance News) - LightwaveRF PLC on Friday said it will issue more shares than planned in its open offer after the issue was oversubscribed.

AIM-listed LightwaveRF - which specialises in apps for the remote monitoring of household power, heating and security - in November said it would issue up to 8.2 million shares at 13.00 pence each to raise GBP1.1 million in the open offer.

On Friday, the company said the open offer was oversubscribed and, as a result, it will issue another 1.6 million shares to satisfy the demand. That will mean around GBP1.3 million will be raised in total from the issue.

Shares in LightwaveRF were flat at 14.25p on Friday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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