Last checked at 16 Apr 2019 15:27
16 April 2019
FireAngel Safety Technology Group plc
('FireAngel', the 'Company' or the 'Group')
Result of Open Offer and Placing
Total Voting Rights
and
Directors' Participation
Result of Open Offer and Placing
Further to its announcement of 29 March 2019 (the 'Announcement'), FireAngel Safety Technology Group plc (AIM: FA.), one of Europe's leading developers and suppliers of home safety products, announces the result of the Open Offer to Qualifying Shareholders.
Valid acceptances have been received from Qualifying Shareholders in respect of 15,652,053 Open Offer Shares. This represents approximately 52.1 per cent. of the Open Offer Shares available under the Open Offer which, at the Issue Price, has raised approximately £3.1 million.
As detailed in the Announcement, under the terms of the Placing Agreement the number of Placing Shares will be scaled back to 14,347,947 New Ordinary Shares, which, at the Issue Price, has raised approximately £2.9 million for the Company.
Subject to the admission to trading on AIM of the 30,000,000 New Ordinary Shares ('Admission'), the Company will have raised a total of £6.0 million (before expenses) as a result of the Placing and Open Offer.
Admission and Total Voting Rights
It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 17 April 2019. The New Ordinary Shares rank pari passu with the Existing Ordinary Shares. Following Admission, the Company's issued share capital will comprise 75,935,365 Ordinary Shares carrying voting rights. 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 in their interests in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Directors' participation and resulting shareholdings
As set out in the Announcement, certain Directors participated in the Open Offer. Directors' resulting shareholdings immediately following Admission are detailed below:
Director | Current shareholding |
| % of issued share capital | No. of Open Offer Shares | Shareholding immediately following Admission | % of Enlarged Share Capital |
John Conoley1 | 61,181 |
| 0.13% | - | 61,181 | 0.08% |
Ashley Silverton | 57,117 |
| 0.12% | 22,883 | 80,000 | 0.11% |
Neil Smith | 10,000 |
| 0.02% | 6,538 | 16,538 | 0.02% |
William Payne | 100,000 |
| 0.22% | 65,384 | 165,384 | 0.22% |
Nick Rutter | 3,000,000 |
| 6.53% | 800,000 | 3,800,000 | 5.00% |
Graham Whitworth2 | 3,481,937 |
| 7.67% | 78,461 | 3,560,398 | 4.69% |
John Shepherd | 23,063 |
| 0.05% | - | 23,063 | 0.03% |
Mike Stilwell | - |
| - | - | - | - |
1Current shareholding purchased post ex-entitlement date for the Open Offer and not qualifying to participate in the Open Offer
2Includes his wife's interest of 198,461 Shares (including 78,461 Open Offer Shares)
Capitalised terms in this announcement have the same meaning as given in the Circular.
For further information, please contact:
FireAngel Safety Technology Group plc | 02477 717 700 |
John Conoley, Chairman |
|
Neil Smith, Group Chief Executive Mike Stilwell, Group Finance Director |
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Stockdale Securities Limited | 020 7601 6100 |
Tom Griffiths David Coaten |
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Notes to Editors
About FireAngel Safety Technology Group plc
FireAngel's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible. FireAngel is one of the market leaders in the European home safety products market and launched its own connected homes product proposition at the end of 2016.
FireAngel's principal products are smoke alarms, CO alarms and accessories. The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories. Products are sold under FireAngel's leading brands of FireAngel, FireAngel Pro, AngelEye and FireAngel Connect.
For further product information, please visit: www.fireangeltech.com
MAR
The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014. Upon the publication of this announcement via a Regulatory Information Service, this inside information will be considered to be in the public domain.