Last checked at 19 May 2021 14:05
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR") AND THE RETAINED UK LAW VERSION OF MAR PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN FIREANGEL SAFETY TECHNOLOGY GROUP PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES. THE SECURITIES DISCUSSED HEREIN HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE US SECURITIES ACT OF 1933, AS AMENDED (THE "US SECURITIES ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE US SECURITIES ACT. NO PUBLIC OFFERING OF THE SECURITIES DISCUSSED HEREIN IS BEING MADE IN THE UNITED STATES.
19 May 2021
FireAngel Safety Technology Group plc
('FireAngel', the 'Company' or the 'Group')
Result of Open Offer and Conditional Placing
Directors' Dealings
and
Total Voting Rights
Result of Open Offer and Conditional Placing
Further to its announcement of 30 April 2021 (the 'Announcement'), FireAngel Safety Technology Group plc (AIM: FA.), a leading developer and supplier 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 23,656,538 Open Offer Shares. This represents approximately 61.7 per cent. of the Open Offer Shares available under the Open Offer which, at the Issue Price, has raised approximately £4.26 million.
As detailed in the Announcement, under the terms of the Placing Agreement the number of Conditional Placing Shares will be scaled back to 14,694,627 New Ordinary Shares, which, at the Issue Price, has raised approximately £2.65 million for the Company.
A further 16,093,279 Firm Placing Shares are to be issued, which, at the Issue Price, has raised approximately £2.9 million for the Company.
Subject to the admission to trading on AIM of the 54,444,444 New Ordinary Shares ('Admission'), the Company will have raised a total of approximately £9.8 million (before expenses) as a result of the Fundraising.
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 20 May 2021. The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares. Following Admission, the Company's issued share capital will comprise 181,003,289 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' Dealings
Further to the Announcement, due to the clawback of Conditional Placing Shares under the Open Offer, each of Zoe Fox (Chief Financial Officer), Jon Kempster (Non-Executive Director), Glenn Collinson (Non-Executive Director) and Graham Whitworth (Non-Executive Director) and his wife will be issued with 31,417, 31,417, 62,832 and 94,239 Placing Shares respectively in respect of their subscriptions in the Placing.
In addition, John Conoley (Executive Chairman) and his wife subscribed in full for their Open Offer Entitlements and for Excess Open Offer Entitlements being, in aggregate, 181,211 Open Offer Shares.
As a result, the Directors' resulting shareholdings immediately following Admission are detailed below:
Director | Current shareholding | % of Existing Ordinary Shares | Placing or Open Offer Shares | Shareholding on Admission | % of Enlarged Share Capital |
John Conoley* | 424,355 | 0.34% | 181,211 | 605,566 | 0.33% |
Zoe Fox | - | - | 31,417 | 31,417 | 0.02% |
Jon Kempster | - | - | 31,417 | 31,417 | 0.02% |
Glenn Collinson | - | - | 62,832 | 62,832 | 0.03% |
Graham Whitworth* | 3,636,542 | 2.87% | 94,239 | 3,730,781 | 2.06% |
Simon Herrick | - | - | - | - | - |
*and his wife
Capitalised terms in this announcement have the same meaning as given in the Announcement.
For further information, please contact:
FireAngel Safety Technology Group plc | 024 7771 7700 |
John Conoley, Executive Chairman |
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Zoe Fox, Chief Financial Officer |
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companysecretary@fireangeltech.com |
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Shore Capital (Nominated adviser and joint broker) | 020 7408 4050 |
Tom Griffiths/David Coaten |
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N+1 Singer (Joint broker) |
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Rick Thompson/Alex Bond | 020 7496 3000 |
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Houston (Financial PR) | 0204 529 0549 |
Kate Hoare/Laura Stewart |
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Notes to Editors
About FireAngel Safety Technology Group plc
FireAngel's mission is to protect and save lives by making innovative, leading-edge home safety products which are simple and accessible. FireAngel is one of the market leaders in the European home safety products market.
FireAngel's principal products are connected smoke alarms, CO alarms, heat 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, FireAngel Specification and AngelEye.
For further product information, please visit: www.fireangeltech.com