21 Nov 2017 07:00
21 November 2017
LightwaveRF Plc
(AIM: LWRF)
Result of Open Offer
LightwaveRF plc ("LightwaveRF" or the "Company"), the leading smart home solutions provider, on 3 November 2017 announced an Open Offer to Qualifying Shareholders.
The Open Offer closed for applications at 11.00 a.m. on 20 November 2017 and the Company announces that it has received valid acceptances from Qualifying Shareholders in respect of 1,553,616 Open Offer Shares, including applications for 254,631 Open Offer Shares under the Excess Application Facility. This represents approximately 25.1 per cent. of the maximum number of 6,196,796 Open Offer Shares available under the Open Offer which at the 16 pence per share issue price has raised approximately £250,000.
Barry Gamble, Chairman, and Kevin Edwards, Chief Financial Officer, have subscribed for their Basic Entitlement in the Open Offer, being 111,520 and 19,230 Open Offer Shares respectively.
The Open Offer remains conditional upon, inter alia, the approval of Shareholders at the General Meeting to be held at 11.00 a.m. on 22 November 2017 and Admission which it is expected will become effective at 8.00 a.m. on 23 November 2017.
This announcement should be read in conjunction with the full text of the Circular posted to Shareholders on 3 November 2017, 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.
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For further enquiries please contact:
LightwaveRF plc Andrew Pearson, CEO Kevin Edwards, CFO | www.lightwaveRF.com +44 (0) 121 250 3625 |
Stockdale Securities Limited Tom Griffiths/Edward Thomas | +44 (0) 20 7601 6100 |
Yellow Jersey PR Charles Goodwin/Abena Affum/Katie Bairsto | www.yellowjerseypr.com +44 (0) 7747 788 221 |
About Lightwave
LightwaveRF plc pioneered smart home automation with the introduction of the market's first Internet enabled devices in 2008. Today the Company markets a complete smart home system for lighting, heating, power and security.
LightwaveRF offers a cloud platform and an extensive range of retrofitted LightwaveRF designed and manufactured sockets, dimmers, relays, thermostats, heating, energy, sensing, monitoring and control devices. These devices are operated by conventional manual control, handheld remote, smartphone and tablet based apps. The LightwaveRF system can also be operated using Google Assistant and Amazon Alexa voice control, is Apple HomeKit compatible and provides users with dashboards to manage their smart home.
We are dedicated to making everyone's lives easier and more fulfilled through world leading smart home technology.
For further information and to sign up for investor news alerts please visit:
www.lightwaverf.com/corporate/