9 Apr 2014 13:52
9 April 2014
Quixant Plc
("Quixant" or the "Company")
£25m placing of 17,857,143 existing Ordinary Shares
Quixant (AIM:QXT) a leading provider of specialised computing platforms for casino gaming machine applications, is pleased to announce that in order to satisfy market demand and broaden the institutional shareholder base of the Company, finnCap, as the Company's broker, have conducted an oversubscribed placing of 17,857,143 existing ordinary shares of 0.01p in the Company (the "Placing Shares" and the "Placing") with new and existing institutional investors.
The Placing Shares have been sold on behalf of certain directors of the Company and their connected persons (the "Director Vendors") and certain other founder shareholders of the Company (the "Vendor Shareholders"). The Placing Shares were sold at a price of 140 pence per share and represent, in aggregate, 27.6 per cent. of the issued share capital of Quixant.
The Director Vendors have been released by finnCap from the terms of their respective lock-in obligations, as set out in paragraph 15 of Part II of the Company's Admission Document dated 21 May 2013 (the "Admission Document") to the extent of the Placing Shares sold in the Placing. All ordinary shares held by the Director Vendors subsequent to the Placing will remain subject to the lock-in obligations and orderly market arrangements set out in the Admission Document. All ordinary shares held by the Vendor Shareholders subsequent to the Placing remain subject to the orderly marketing arrangements set out in paragraph 15 of Part II of the Admission Document.
Subsequent to the Placing, the Director Vendors revised shareholdings are set out below.
Director | Placing Shares sold | Resultant shareholding | ||
| Number of Ordinary Shares | % of issued share capital | Number of Ordinary Shares | % of Enlarged Share Capital |
Nick Jarmany | 8,109,347 | 12.5% | 16,752,923(1) | 25.9% |
Gary Mullins | 3,142,173 | 4.9% | 4,058,641(2) | 6.3% |
Chen Tai Lin | 2,221,739 | 3.4% | 4,589,842(3) | 7.1% |
(1) Mr Jarmany's holding includes 5,573,379 Ordinary Shares, representing 8.6 per cent. of the issued share capital of the Company, registered in the name of his wife, Francesca Marzilli.
(2) Mr Mullins' holding includes 389,233 Ordinary Shares, representing 0.6 per cent. of the issued share capital of the Company, registered in the name of his wife, Sophie Jayne Mullins
(3) Mr Lin's holding includes 1,167,700 Ordinary Shares, representing 1.8 per cent. of the issued share capital of the Company, registered in the name of his wife, Shu-Hsiang Wu.
Subsequent to the Placing the Founder Shareholders revised shareholdings are set out below.
Vendor Shareholder | Placing Shares sold | Resultant shareholding | ||
| Number of Ordinary Shares | % of issued share capital | Number of Ordinary Shares | % of Enlarged Share Capital |
Alex Taylor | 1,269,565 | 2.0% | 2,662,767 | 4.1% |
Mark Mullins | 2,380,434 | 3.7% | 2,484,981 | 3.8% |
Daniel Jarmany | 407,714 | 0.6% | 842,286 | 1.3% |
Tim Moulson | 326,171 | 0.5% | 673,829 | 1.0% |
Nick Jarmany, CEO of Quixant, commented: "Since our IPO in May last year it became increasingly clear to us that greater liquidity was necessary for the long term benefit of the Company. By successfully completing this Placing we have satisfied significant institutional demand and broadened our shareholder base. I am very pleased with the calibre and support of existing and new shareholders and look forward to continuing to implement our growth strategy."
Enquiries
Quixant plc Nick Jarmany (Chief Executive) Jon Jayal (General Manager) | +44(0)1223 892 696
|
Nominated Adviser and Broker: finnCap Limited Matt Goode (Corporate Finance) Charlotte Stranner (Corporate Finance) Victoria Bates (Corporate Broking)
|
+44(0)20 7220 0500 |
Financial PR: Newgate Threadneedle John Coles / Fiona Conroy / Hilary Millar |
+44(0)20 7653 9850 |
About Quixant
Quixant, founded in 2005, designs and manufactures complete advanced hardware and software solutions (Gaming Platforms) for the pay-for-play gaming and slot machine industry. The Company is headquartered outside of Cambridge in the UK. Quixant UK Ltd is responsible for the group's global (excluding North America) sales function and its Las Vegas based subsidiary, Quixant USA Inc, is responsible for sales and sales support to the North American market. Quixant has its own manufacturing and engineering operation in Taiwan, which has evolved with the rapid growth of the Company. Quixant's Italian subsidiary, Quixant Italia, houses the Group's software engineering and customer support team.
Quixant's high quality, specialised products provide an all-in-one solution, based on PC technology but with augmentative hardware features and operating software developed specifically to address the requirements of the gaming industry. Products feature innovative mechanical designs which are optimised for operation in the gaming and slot machine environment. Quixant's proprietary hardware and embedded software is flexible in its design, enabling Quixant to easily respond to changes in regulation or customers operating in different markets or jurisdictions.