16 Apr 2018 12:15
16 April 2018
PhotonStar LED Group Plc
Issue of Equity
PhotonStar LED Group Plc (AIM: PSL, "PhotonStar" or "the Company"), the British designer and manufacturer of intelligent lighting and building control solutions announces that the Company has issued a total of 71,729,580 new ordinary shares of 0.01p ("Ordinary Shares") each in the Company to professional advisers in lieu of fees, two directors of the Company in lieu of salaries and to certain subscribers for cash at a price of 0.15p (together the "New Ordinary Shares"), as summarised below.
Firstly, a total of 51,350,000 New Ordinary Shares will be issued to certain of the Company's professional advisers and consultants in lieu of advisory and consultancy work undertaken recently.
In addition, a total of 16,346,246 New Ordinary Shares will be issued to James McKenzie, the Company's CEO and Jonathan Freeman, the Company's Chairman in lieu of unpaid salaries over the course of the past 12 months, as per the table below:
Director | Number of New Ordinary Shares to be issued | Beneficial shareholding following issue of New Ordinary Shares | Percentage of Ordinary Shares held following the issues of New Ordinary Shares |
James McKenzie | 3,333,333 | 34,841,953* | 6.0% |
Jonathan Freeman | 13,012,913 | 13,659,661 | 2.3% |
*Figures include ordinary shares held by Mrs F McKenzie
Finally, following PhotonStar's recent placing as announced on 27 February 2018, which was undertaken at 0.15p per Ordinary Share, the Company has received additional cash subscriptions from employees of the Company for a total of 4,033,333 New Ordinary Shares.
Admission
Application will be made for the 71,729,580 New Ordinary Shares, which will rank pari passu with the existing Ordinary Shares, to be admitted to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m. on 20 April 2018.
Following Admission, the total number of voting rights in the Company will be 583,554,467 Ordinary Shares. This number 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 Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information:
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PhotonStar LED Group Plc (www.photonstarled.com) James McKenzie - Group Chief Executive
| +44 (0)2381 230381 |
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Northland Capital Partners David Hignell/Tom Price/Jamie Spotswood (Corporate Finance) John Howes/Rob Rees (Corporate Broking)
| +44 (0)20 3861 6625 |
Peterhouse Corporate Finance Limited Duncan Vasey/ Fungai Ndoro | +44 (0)20 7469 0930
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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.
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
1
| Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | James McKenzie
|
2
| Reason for the notification | |
a)
| Position/status
| Chief Executive |
b)
| Initial notification /Amendment
| Initial Notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| PhotonStar LED Group plc |
b)
| LEI | 213800G3OS3SA2J1Y358 |
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
| Ordinary Shares of 0.01p each in PhotonStar LED Group plc ("Ordinary Shares") |
b) | Identification code
| GB00B1TK2453 |
c)
| Nature of the transaction
| Issue of Shares |
d)
| Price and volumes | Price - 0.15p Volume: 3,333,333 Ordinary Shares |
d)
| Aggregated information - Aggregated volume - Price | N/a
|
e)
| Date of the transaction | 16 April 2018 |
f) | Place of the transaction | London Stock Exchange, AIM Market |
1
| Details of the person discharging managerial responsibilities / person closely associated | |
a)
| Names | Jonathan Freeman
|
2
| Reason for the notification | |
a)
| Position/status
| Chairman |
b)
| Initial notification /Amendment
| Initial Notification |
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
a)
| Name
| PhotonStar LED Group plc |
b)
| LEI | 213800G3OS3SA2J1Y358 |
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
| Ordinary Shares of 0.01p each in PhotonStar LED Group plc ("Ordinary Shares") |
b) | Identification code
| GB00B1TK2453 |
c)
| Nature of the transaction
| Issue of Shares |
d)
| Price and volumes | Price - 0.15p Volume: 13,659,661 Ordinary Shares |
d)
| Aggregated information - Aggregated volume - Price | N/a
|
e)
| Date of the transaction | 16 April 2018 |
f) | Place of the transaction | London Stock Exchange, AIM Market |