14 Dec 2018 07:00
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 ("MAR"). In addition, market soundings (as defined in MAR) were taken in respect of the Placing with the result that certain persons became aware of inside information (as defined in MAR), as permitted by MAR. This inside information is set out in this Announcement. Therefore, those persons that received inside information in a market sounding are no longer in possession of such inside information relating to the Company and its securities.
14 December 2018
PhotonStar LED Group PLC
("PhotonStar" or the "Company")
Issue of Equity
PhotonStar LED Group plc (AIM: PSL.L), is pleased to announce that it has raised gross proceeds of £100,000 via the placing of 500,000,000 new ordinary shares of 0.01p each ("Ordinary Shares") with new and existing investors (the "Placing Shares") at a price of 0.02p per share (the "Placing"). The Placing has been undertaken by the Company's Joint Broker Peterhouse Capital Limited.
The net proceeds of the Placing will provide the Company additional working capital and will also enable the Company's board to initiate a further cost reduction programme and to evaluate new business opportunities. The Placing will also strengthen the Company's balance sheet.
Application for Admission
Application will be made for the Placing Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). The Placing is conditional on Admission and it is anticipated that Admission will become effective at 8.00 a.m. on 19 December 2018.
Total voting rights
Following Admission, the Company's enlarged issued share capital will comprise 1,262,221,134 Ordinary Shares. The Company does not hold any shares in treasury. Therefore, the total number of Ordinary Shares with voting rights will be 1,262,221,134. This figure 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information:
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PhotonStar LED Group Plc (www.photonstarled.com) James McKenzie - Group Chief Executive | +44 (0)2381 230381 |
Northland Capital Partners Limited (Nomad and Joint Broker) David Hignell/ Jamie Spotswood (Corporate Finance) | +44 (0)20 3861 6625 |
Peterhouse Capital Limited (Joint Broker) Duncan Vasey/ Fungai Ndoro | +44 (0)20 7469 0930 |
About PhotonStar LED Group Plc
PhotonStar LED Group Plc is a leading British designer and manufacturer of intelligent lighting & building control solutions. The Group's proprietary technology Halcyon™ is a scalable, secure wireless IoT platform for retrofit into commercial buildings, for energy reduction, asset monitoring & control, and real time environmental, behavioural and energy insights. PhotonStar is based in Romsey, Hampshire.
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