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Pin to quick picksWater Intel. Regulatory News (WATR)

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Issue of new shares in respect of Share Options

16 Nov 2021 12:22

RNS Number : 5617S
Water Intelligence PLC
16 November 2021
 

16 November 2021

 

Water Intelligence plc

("Water Intelligence" or the "Company")

 

Issue of new shares in respect of Share Options

 

Water Intelligence plc (AIM: WATR.L), a leading multinational provider of non-invasive leak detection and remediation services for both potable and non-potable water, announced on 12 November 2021 that it has raised £12.2m by way of a placing of 1,016,667 new ordinary shares of 1 penny each (the "Placing Shares") at 1,200 pence per share. The Company confirms that the Placing Shares are expected to be admitted to trading on AIM ("Admission") at 8.00am on 17 November 2021.

 

In addition, the Company announced that a franchisee had requested to exercise their options over a further 25,000 new ordinary shares of 1 penny each (the "Option Shares") and that the Option Shares were to be sold on essentially the same terms as the Placing Shares, for settlement on 17 November 2021, subject to Admission (together with the Placing, the "Transaction").

 

As part of the Transaction, the Company now announces that both the exercise of the options and sale of the Option Shares has been cancelled and that the Company will instead issue and allot a further 25,000 new ordinary shares ("New Ordinary Shares") to be sold alongside the Placing Shares, the consideration for which will be paid to the holder of the options in lieu of the issue of the Option Shares. It is anticipated that the New Ordinary Shares will be admitted to trading on AIM at the same time as the Placing Shares, being 8.00 a.m. on 17 November 2021, with settlement also on 17 November 2021. As a result of this transaction, the franchisee has agreed that their option over 25,000 shares has also been voided.

 

Total Voting Rights

 

As previously stated upon Admission, the issued share capital of the Company will be 19,447,688 shares of 1 penny each ("Ordinary Shares"), divided into 17,367,688 Ordinary Shares (of which 36,500 Ordinary Shares will be held by the Company in treasury) admitted to trading on AIM and which entitle the holder to 1 vote per ordinary share; and 2,080,000 B ordinary shares of 1 penny each which are not admitted to trading on AIM but which otherwise rank pari passu with the Ordinary Shares (save that they may not participate in any distribution or return of capital until they are fully paid).

 

Accordingly, the Company's total voting rights following Admission will be 19,411,188 shares. This total voting rights number may be used by shareholders at Admission 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 FCA's Disclosure Guidance and Transparency Rules.

 

The Placing Shares and the New Ordinary Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.

 

Enquiries

 

Water Intelligence plc

Patrick DeSouza, Executive Chairman

Tel: +1 203 654 5426

WH Ireland Limited - NOMAD and Joint Broker

Tel: +44 (0) 207 220 1666

Adrian Hadden

Ben Good

RBC Capital Markets - Joint Broker

Jill Li

Elizabeth Evans

Max Avison

Tel: +44 (0) 207 653 4000

Dowgate Capital Limited - Joint Broker

Tel: +44 (0) 203 903 7715

Stephen Norcross

Russell Cook

Nicholas Chambers

 

Notes to Editors

 

About Water Intelligence

 

Water Intelligence plc (AIM: WATR.L) is a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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Date   Source Headline
16th Nov 202112:22 pmRNSIssue of new shares in respect of Share Options
12th Nov 20215:43 pmRNSResults of Placing and Exercise of Options
12th Nov 20217:00 amRNSProposed Placing
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1st Apr 20217:00 amRNSTransaction in Own Shares
22nd Mar 20217:00 amRNSTransaction in Own Shares
19th Mar 20217:00 amRNSTransaction in Own Shares
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