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8 Nov 2019 07:00
8 November 2019
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Windar Photonics plc
("Windar" or the "Company")
Director Dealing
Windar Photonics plc (AIM:WPHO), the technology group that has developed a cost efficient and innovative LIDAR wind sensor for use on electricity generating wind turbines, announces that O-Net Communications Holdings Limited, who has a 31.7 per cent. shareholding in WaveTouch Group Limited ("WaveTouch Group"), has exercised its right pursuant to the Put/Call Option Agreement entered into on 15 March 2016 between O-Net Communications Holdings Limited and Pasinika s.á.r.l ("Pasinika") to acquire 2,000,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") in exchange for 8,000,000 ordinary shares, equivalent to 31.7 per cent., of WaveTouch Group.
Jorgen Korsgaard Jensen, a Director of the Company, is the sole beneficial owner of Pasinika. Following the completion of this swap, Pasinika will be interested in 4,983,197 Ordinary Shares, representing 11.2 per cent. of the issued share capital of Windar, and O-Net Communications Holdings Limited will be interested in 2,000,000 Ordinary Shares, representing 4.5 per cent. of the issued share capital of Windar.
Jorgen Korsgaard Jensen is also a shareholder in and CEO of WaveTouch Group, a company incorporated in the United Kingdom, which develops and markets optical touch screen and related technologies.
For further information:
Windar Photonics plc | Jørgen Korsgaard Jensen, CEO | +4524234930 |
Cantor Fitzgerald Europe Nominated Adviser and Broker | David Foreman (Corporate Finance) Keith Dowsing (Sales) | +44 (0)20 7894 7000 |
Newgate Communications Financial PR | Elisabeth Cowell Adam Lloyd Tom Carnegie | +44 (0)20 7680 6550 |
The person responsible for arranging the release of this announcement on behalf of Windar is Jørgen Korsgaard Jensen.
About Windar:
Windar Photonics is a technology group that develops cost-efficient and innovative Light Detection and Ranging ("LiDAR") optimisation systems for use on electricity generating wind turbines. LiDAR wind sensors in general are designed to remotely measure wind speed and direction.
http://investor.windarphotonics.com
1
| Details of the person discharging managerial responsibilities / person closely associated
| ||||
a)
| Name | Jorgen Korsgaard Jensen | |||
2
| Reason for the notification | ||||
a)
| Position/status | CEO | |||
b)
| Initial notification /Amendment | Initial Notification | |||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
a)
| Name
| Windar Photonics plc
| |||
b)
| LEI | 2138003JZZMKJGOOCR02 | |||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||
a)
| Description of the financial instrument, type of instrument | Ordinary shares of 1p each | |||
Identification code | ISIN: GB00BTFR4F17 | ||||
b)
| Nature of the transaction
| Share swap | |||
c)
| Price(s) and volume(s) | Price(s) | Volume(s) | ||
42.5p (mid market closing price) | 2,000,000 | ||||
d)
| Aggregated information | ||||
- Aggregated volume | 2,000,000 | ||||
- Price | 42.5p (mid market closing price) | ||||
e)
| Date of the transaction | 7 November 2019 | |||
f)
| Place of the transaction
| London Stock Exchange | |||
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