21 Feb 2020 15:15
THIS ANNOUNCEMENT, INCLUDING THE APPENDIX, 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. PLEASE SEE THE IMPORTANT NOTICES WITHIN THIS ANNOUNCEMENT.
FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN ADEPT TECHNOLOGY GROUP PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION ("MAR"). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
21 February 2020
AdEPT Technology Group plc
("AdEPT" or the "Company")
Result of Placing and Subscription
Further to the announcement made earlier today, the Company is pleased to announce that in light of additional investor demand the Placing has been increased and the Company can confirm that it has successfully raised gross proceeds of approximately £4.25 million through a Placing of 1,320,312 new Ordinary Shares and a Subscription of 7,813 new Ordinary Shares at the Issue Price with new and existing investors.
The New Shares represent approximately 5.60 per cent. of the Company's existing issued ordinary share capital.
The New Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the Existing Ordinary Shares, including the right to receive all dividends or other distributions made, paid or declared in respect of such shares after the date of issue of the New Shares.
Director Participation
Phil Race, Chief Executive of the Company, has subscribed for Subscription Shares as outlined below:
Shareholder | Number of Existing Ordinary Shares | Number of Subscription Shares subscribed for | Shareholding following the Placing and Subscription
| % of Enlarged Issued Share Capital |
Phil Race
| 2,778 | 7,813 | 10,591 | 0.04% |
Related Party Transaction
Greenwood Investments Limited has subscribed for 80,000 Placing Shares at the Issue Price in the Placing, as outlined below.
Shareholder | Number of Existing Ordinary Shares | Number of Placing Shares subscribed for | Shareholding following the Placing and Subscription
| % of Enlarged Issued Share Capital |
Greenwood Investments Limited
| 5,220,000 | 80,000 | 5,300,000 | 21.17% |
Greenwood Investments Limited is a "Substantial Shareholder" in the Company for the purposes of the AIM Rules. It's subscription for Placing Shares pursuant to the Placing (as described above) is a related party transaction for the purposes of the AIM Rules. The Company's independent directors consider, having consulted with the Company's nominated adviser, Cantor Fitzgerald Europe, that the terms of the Placing and Subscription are fair and reasonable insofar as the Shareholders are concerned.
Admission
Application has been made to London Stock Exchange plc for the New Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that dealings in the Placing Shares and Subscription Shares will commence at 8.00 a.m. on 25 February 2020.
Total Voting Rights
Following Admission, the Company's issued share capital will comprise 25,029,957 Ordinary Shares. The total number of voting rights in the Company will be 25,029,957. This figure may be used by shareholders 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 share capital of the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.
Definitions
Other than where defined, capitalised terms used in this announcement have the meanings given to them in the announcement released by the Company at 7.00 a.m. on 21 February 2020.
Enquiries:
AdEPT Technology Group Plc Phil Race, Chief Executive John Swaite, Finance Director
|
07798 575 338 01892 550 243 |
Cantor Fitzgerald Europe Nominated Adviser & Broker Phil Davies, Will Goode, Adam Dawes (Corporate Finance) Caspar Shand Kydd, Arthur Gordon, Maisie Atkinson (Sales)
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020 7894 7000 |
The person responsible for arranging the release of this information is John Swaite, Finance Director of the Company.
Overview of AdEPT Technology Group plc
AdEPT is a UK provider of managed services for IT, unified communications, connectivity, voice and cloud services. The Company has a long-established customer base in 4 strategic sectors: Education, Health, Commercial and the Public Sector. AdEPT's tailored services are used by customers across the UK and are brought together through strategic relationships with tier-1 suppliers such as Openreach (a functional Division of BT), BT Wholesale, Talk Talk, Gamma, Avaya, Microsoft and Dell.
AdEPT combines multi-product solutions from a number of communications and IT partners to provide tailored solutions to meet the specific requirements of customers. AdEPT is widely recognised as a multi-site multi product specialist, with thousands of customers taking a range of products. AdEPT is increasingly focused on customers who can benefit from AdEPT's ability to provide a fully unified communication, network and IT solution (ICT).
Notification of Dealing Forms
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||
a) | Name | Phil Race | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chief Executive | ||||
b) | Initial notification/ Amendment | Initial | ||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | AdEPT Technology Group Plc | ||||
b) | LEI | 213800T1WNDEXVBGMP93 | ||||
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 Identification code | Ordinary Shares of 10p each GB00B0WY3Y47 | ||||
b) | Nature of the transactions | Subscription for Ordinary Shares | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | N/A
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e) | Date of the transaction | 21 February 2020 | ||||
f) | Place of the transaction | London Stock Exchange | ||||