24 Sep 2019 16:03
LightwaveRF plc
("LightwaveRF" or the "Company")
Director's Disclosure
LightwaveRF plc (AIM: LWRF), the leading smart homes solutions provider, announces that, further to the Director's Dealing announcement of 19 September 2019 ("Announcement"), it has now established the reasons for the error in the previously disclosed shareholding in the Company of Mike Lord, Non-executive Director.
As reported in the Announcement, the number of ordinary shares in the Company disclosed as held by Mike Lord had been understated by 76,300. Following an investigation, the Company has now been able to identify that this understatement comprised two elements.
The first element relates to a discrete account holding of 54,500 shares which had arisen on consolidation of the Company shares on 3 April 2014. Although the acquisition of these shares had been fully disclosed at the time of the original purchase they were not properly identified at the time of the share consolidation and, as a result, an appropriate market disclosure was not made at that time.
The second element relates to 21,800 shares acquired at 13.0 pence per share on 20 December 2016. These shares were acquired by a discretionary fund manager acting for Mr. Lord pursuant to the Company's open offer announced on 21 November 2016. The discretionary fund manager did not notify Mr. Lord of this purchase so he, in turn, failed to inform the Company. As a result, an appropriate market disclosure was not made at that time.
Following this clarification, Mike Lord has re-confirmed that his total interest in the Company comprises 1,376,300 Shares, representing approximately 1.14 per cent. of the Company's issued share capital.
For further information:
LightwaveRF plc Barry Gamble, Non-Executive Chairman Jason Elliott, CEO Kevin Edwards, CFO | www.lightwaveRF.com +44 (0) 121 250 3625 |
Shore Capital Tom Griffiths/David Coaten | www.shorecap.co.uk +44 (0) 20 7408 4090 |
Yellow Jersey PR Charles Goodwin/Annabel Atkins | www.yellowjerseypr.com +44 (0) 7747 788 221 |
About LightwaveRF
LightwaveRF plc ("Lightwave") is the UK's only fully integrated home automation company.
New customers typically buy a starter pack of Link Plus hub and smart dimmer which has Apple HomeKit compatibility, 2-way communication and built-in energy monitoring. Later adding other easy to install devices from the Lightwave range enables further in-home control, monitoring and automation of lighting, heating and power.
Devices may be operated manually, by smartphone or tablet-based apps and also through Google Assistant and Amazon Alexa voice control.
Leading tech industry publication 9to5 Mac describes Lightwave as "the best UK HomeKit solution for smart lighting".
For further information and "Newsletter sign up", please visit: www.lightwaverf.com/corporate/