LWRF.L Regulatory News (LWRF)



17 December 2019

LightwaveRF plc

("LightwaveRF" or the "Company")

Issue of Equity

and

Total Voting Rights

Further to its announcements of 16 August 2019, 20 September 2019, 7 October 2019, 31 October and 28 November 2019 ("Announcements"), LightwaveRF (AIM: LWRF), the leading smart homes solutions provider, announces that application has been made for 944,680 new Ordinary Shares to be admitted to trading on AIM. These shares, which have been subscribed for at 7.0 pence per share, are being subscribed for by Committed Capital and other subscribers including two directors of the Company and form part of, and now complete, the subscription of the 1,880,931 Deferred Settlement Shares, details of which were set out in the Company's circular dated 20 September 2019 (the "Circular"). Admission is expected to occur at 8.00 a.m. on 18 December 2019 ("Admission").

Participation by the Concert Party

As announced on 2 December 2019, the Concert Party holds, in aggregate, 46,208,774 Ordinary Shares representing approximately 37.68 per cent. of the Company's issued share capital. Notwithstanding the announcement of 28 November 2019 which stated Committed Capital did not intend to subscribe for the balance of the Deferred Settlement Shares at that time, as a result of funds becoming available to Committed Capital, and in line with its statement in that announcement of ongoing support for the Company, it now intends to subscribe for 393,945 Deferred Settlement Shares to which it remains entitled. In addition, Steve Harris, a member of the Concert Party, director of Committed Capital and director of the Company, will subscribe for 159,500 Deferred Settlement Shares. As set out below, as a result of these subscriptions, immediately following Admission, the Concert Party will hold, in aggregate, 46,762,219 Ordinary Shares, representing approximately 37.84 per cent. of the Enlarged Share Capital.

1 Of these, 287,890 will be legally held by MNL Nominees Limited, a Committed Capital nominee company, and 106,055 will be legally held by Mainspring Nominees (8) Limited, a Committed Capital nominee company

2 Steve Harris is a director of CCFSL and of Committed Capital

3 106,055 of these Deferred Settlement Shares are being subscribed for through Mainspring Nominees (8) Limited and the balance of 53,445 Deferred Settlement Shares are being subscribed for directly by Steve Harris in lieu of outstanding directors' fees owed to him

Directors' Participation

The following Directors have subscribed for Deferred Settlement Shares as follows: -

1 118,271 of these Deferred Settlement Shares are being subscribed for by Drol Investments Limited, a company beneficially owned by Mike Lord's wife, Nicky Lord, in lieu of fees owed to it and the balance of 79,634 Deferred Settlement Shares are being subscribed for by Mike Lord in lieu of outstanding directors' fees owed to him

2 Steve Harris is a director of CCFSL and of Committed Capital, therefore the 159,500 Deferred Settlement Shares being subscribed for by him are included in the total of 553,445 Deferred Settlement Shares being subscribed for by certain members of the Concert Party referred to above

3 106,055 of these Deferred Settlement Shares are being subscribed for through Mainspring Nominees (8) Limited and the balance of 53,445 of these Deferred Settlement Shares are being subscribed for directly by Steve Harris in lieu of outstanding directors' fees owed to him

Total Voting Rights 

Following Admission, the Company will have 123,583,446 Ordinary Shares in issue and admitted to trading on AIM. 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 to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

This announcement should be read in conjunction with the Announcements and the full text of the Circular, copies of which are available on the Company's website at www.lightwaverf.com. Capitalised terms in this announcement have the same meaning as given in the Circular. 

For further enquiries please contact:

About LightwaveRF

Lightwave is Europe's leading supplier of installed home automation technology.

Lightwave products offer convenient automation, control and monitoring of lighting, heating and power via its app, Apple HomePod, Amazon Alexa or Google Assistant. Lightwave is also integrated with Samsung SmartThings and EVO protocols from Honeywell Home by Resideo.

With market leading quality and wireless range, the modular system enables users to begin with a small number of devices and grow over time to easily control an entire property.

Devices are retrofittable using existing standard wiring and are easy to install. Lightwave also recommends a network of approved, qualified electricians who have been trained by the Company.

In markets across Europe, Lightwave products can be purchased directly from the Company or from approved stockists, including Apple, Amazon, ScrewFix and wholesalers, including Rexel.

Lightwave technology may be specified as a pre-installed option in newly built properties from Berkeley Homes in partnership with E.ON Home, Urban Splash and Trivselhus.

For further information please visit www.lightwaverf.com