Essensys Regulatory News (ESYS)

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, TO ANY US PERSONS OR IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN, OR ANY OTHER JURISDICTION, OR TO ANY PERSON, WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAW OR REGULATION OF SUCH JURISDICTION.

29 May 2019

essensys plc

("essensys" or the "Company")

Admission to trading on AIM and First Day of Dealings

essensys plc (AIM:ESYS), the leading provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry, is pleased to announce that N+1 Singer has successfully placed 18,543,046 new and existing Ordinary Shares in the Company at a price of £1.51 per Ordinary Share and the admission of its entire share capital, being 48,107,567 Ordinary Shares to trading on the AIM market of the London Stock Exchange.

Dealings in the Ordinary Shares will commence at 8:00 a.m. today, Wednesday 29 May 2019, under the ticker "ESYS" (ISIN: GB00BJL1ZF49).

The Company's AIM admission document is now available to view on the Company's investor website: https://investors.essensys.tech/

Admission Highlights

· N+1 Singer acted as sole placing agent and has been retained as Nominated Adviser and Broker to essensys

· In conjunction with Admission, the Company has successfully raised gross proceeds of £28 million through an oversubscribed placing of approximately 18.5 million Ordinary Shares at a price of £1.51 pence per share

· The Placing raised gross proceeds of £14 million for the Company and £14 million for Selling Shareholders

· Upon Admission, the Company will have a market capitalisation (at the Placing Price) of approximately £72.6 million

Company Highlights

· The leading provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry

· Strong management team with deep domain expertise

· Proven and fully established products

· 80%+ of high margin, recurring revenue

· Excellent pipeline visibility

· Attractive unit economics

· Strong SaaS metrics

· Innovative, global blue chip customers base

· Proven model for international expansion

· Cash generative

· Historic track record of profitable growth

· Flexible workspace market underpinned by structural growth drivers

Significant Customer Benefits

· Improved ROI

· Ease of use and improved operational efficiency

· Increased service levels and customer retention rates

· Cost savings and economies of scale

· Improved business decisions

Total Voting Rights

Following Admission, the total number of Ordinary Shares in issue will be 48,107,567; each with equal voting rights. The total voting rights figure can be used by Shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change of their interest in, the Company under the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority.

Mark Furness, CEO of essensys, commented:

"Today is a landmark day for essensys, marking the start of the latest and most exciting phase of our journey to date. The positive reception we have received from investors has been hugely encouraging, and serves as an endorsement of the strength of the business we have built as well as the significant long-term opportunities that lie ahead of us as a UK-listed company with global ambition.

"I want to thank everyone who has helped essensys achieve this successful flotation, especially our committed, passionate employees who are the true heartbeat of our business, and our loyal customer base who have allowed us to play an exciting role in the evolution of the flexible workspace industry."

For further information, please contact:

Notes to editors:

Defined terms used in this announcement have the meanings given to them in the Admission Document.

About essensys plc

essensys is the leading provider of mission-critical SaaS platforms and on-demand cloud services to the high growth flexible workspace industry. essensys' software was specifically designed and developed to help solve the complex operational challenges faced by multi-site flexible workspace operators as they grow and scale their operations. The Group's technology allows operators to deliver a range of differentiated flexible and customer-specific services to a broad base of tenants across multiple locations and helps operators to manage the cost, operational and technological challenges they typically encounter.

essensys' two SaaS platforms, Connect and Operate, address these complex operational challenges, and reduce costs by simplifying the day-to-day management of flexible workspaces and the provision of on-demand IT, technology and infrastructure services to tenants. essensys' platforms automate key tasks and processes and help flexible workspace providers deliver highly efficient, customer-centric workspace solutions and member experiences with enterprise class services.

Important Notice

This announcement does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any Ordinary Shares or other securities in the United States, Australia, Canada, Japan or the Republic of South Africa or in any other jurisdiction in which such offer or solicitation is unlawful, prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. The distribution of this announcement and other information in connection with Admission in certain jurisdictions may be restricted by law and persons into whose possession this announcement, any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Neither this announcement nor any part of it nor the fact of its distribution shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

The information in this announcement is for background purposes only and does not purport to be full or complete. No reliance may or should be placed for any purposes whatsoever on the information contained in this announcement or its accuracy, completeness or fairness. The information in this announcement is subject to change. No obligation is undertaken to update this announcement or to correct any inaccuracies and the distribution of this announcement shall not be deemed to be any form of commitment on the part of the Company to proceed with any transaction or arrangement referred to herein. This announcement has not been approved by any competent regulatory authority.

Nplus1 Singer Advisory LLP is acting as Nominated Adviser and Broker to essensys for the purposes of the AIM Rules for Companies and is not acting for, and will not be responsible to, any person other than essensys for providing the protections afforded to clients of Nplus1 Singer Advisory LLP or for advising any other person on any transaction or arrangement referred to in this announcement.

Certain figures contained in this announcement, including financial information, have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this announcement may not conform exactly to the total figure given.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.