10 Jul 2013 07:00
10 July 2013
Advanced Power Components Plc("APC" or the "Company")
Exercise of Options and Conversion of Loan Notes
APC announces that, following the exercise of share options, application has been made for the admission of 115,000 new ordinary shares of 2p each in the Company (the "New Ordinary Shares") to trading on AIM.
The Company has also applied for the admission of 2,500,000 New Ordinary Shares pursuant to the conversion by Roger and Janet Robinson, substantial shareholders in the Company, of £275,000 of convertible loan notes, which were originally issued in August and September 2012. The loan notes converted at a price of 11p per share. In addition, the Company, has applied for the admission of 400,000 New Ordinary Shares pursuant to the conversion by John and Lynda Mitchell, substantial shareholders in the Company, of £50,000 of convertible loan notes, which were originally issued on 10 February 2009. The loan notes converted at a price of 12.5p per share. Following the conversion of these loan notes the Company has no further convertible loan notes outstanding.
Subsequent to the issue of these New Ordinary Shares, Mr Robinson and related family trusts are interested in 9,993,821 Ordinary Shares, representing approximately 17.9 per cent of the Company's issued share capital. Mr Mitchell and related family trusts are interested in 4,935,500 Ordinary Shares, representing approximately 8.8% of the Company's issued share capital.
Following admission of the New Ordinary Shares, the total number of voting rights in the Company's ordinary shares will be 55,775,104. APC does not hold any ordinary shares in treasury.
The New Ordinary Shares will rank pari passu in all respects with the existing ordinary shares. It is expected that admission will occur at 8.00 a.m. on Tuesday 16 July 2013.
The aforementioned figure of 55,775,104 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 a change to their interest in, APC under the Financial Conduct Authority's Disclosure and Transparency Rules.
Enquiries:
Advanced Power Components plc | 01634 290588 |
Mark Robinson, Chief Executive Officer Rob Smith, Finance Director | www.apc-plc.co.uk |
Strand Hanson Limited | 020 7409 3494 |
James Harris / Angela Hallett / Ritchie Balmer | |
Northland Capital Partners Limited | 020 7796 8800 |
John Howes / Alice Lane | |
Redleaf Polhill | 020 7382 4730 |
Rebecca Sanders-Hewett / David Ison | apc@redleafpr.com |
Notes to Editors:
About Advanced Power Components
Advanced Power Components plc (APC) is one of the UK's leading distributors of specialist electronic components and a provider of technologies developed to reduce energy consumption or generate electricity more sustainably.
Since incorporation in 1982, APC has developed long-standing relationships with manufacturers of specialist electronic components and with customers who put significant value on our deep understanding of the challenges of their individual markets, technical expertise and attention to detail. Markets include defence, aerospace, space, transportation, medical and industrial sectors. Products are wide ranging in their complexity and in their application and are sold through a number of semi-autonomous teams. Each team focuses on specific technologies or markets but are true to the Company's central business strategy of adding value in the supply chain.
Through Minimise Energy, the Group promotes a range of technologies developed to reduce energy consumption and associated carbon emissions associated with traditional offerings. These products are either sold individually, through subsidiaries Minimise Limited and Minimise Controls Limited or may be combined to provide an integrated, multi technology solution to the challenge of improving the energy efficiency of an entire organisation.
Sales teams:
§ APC-Contech - Custom Keyboards and Data Input Devices
§ APC-Displays+ - Displays and Embedded Systems
§ APC-Hero - Sensors, Optoelectronics, Semiconductors
§ APC-HiRel - Electronic Components for High Reliability Applications
§ APC-Locator - Obsolescence and Allocation Specialists
§ APC-Novacom - Microwave and RF Components
§ APC-Time - Timing Systems, Time and Frequency Generators
Subsidiaries:
§ Minimise Energy Limited - integrated, multi technology energy efficiency solutions including financing options
§ Minimise Limited - LED lighting, imop™, air-conditioning optimisation technologies
§ Minimise Controls Limited - Energy efficient energy monitoring and control systems