TIDMWTL
RNS Number : 4486N
Waterlogic PLC
28 July 2014
Date: 28 July 2014
On behalf Waterlogic Plc ("Waterlogic", the
of: "Company" or the "Group")
Embargoed until: 0700hrs
Waterlogic Plc
Trading Update
Waterlogic Plc (AIM: WTL.L), a leading designer, assembler,
distributor and operator of mains attached point-of-use ("POU")
drinking water purification and dispensing systems, today announces
a trading update for the six month period to 30 June 2014.
The Board is pleased to announce today that Waterlogic has
delivered a strong financial performance for the period, with
revenues at approximately USD 68.6 million (2013: USD 54.6
million). Net debt for the Group as at 30 June 2014 was
approximately USD 30.1 million, including cash reserves of USD 18.5
million.
In the Commercial Division, revenues for the period were USD
67.3 million (2013: USD 53.8 million), with solid organic growth
underpinned by contributions from acquisitions, notably The Cool
Clear Water Group Limited, which was completed in June 2013 and is
performing well. Consumer Division revenues for the period were USD
1.3 million (2013: USD 0.8 million).
Further to the Company's announcement on 30 June 2014, the
strategic review and formal sale process is continuing and the
Company will provide a further update when it announces its interim
results on 22 September 2013.
Enquiries:
Waterlogic Plc Via Redleaf Polhill
Jeremy Ben-David, Group Chief Executive Officer
Robert Bell, Chief Financial Officer
Liberum Capital (Nominated Adviser and Broker) Tel: +44 (0)203 100 2000
Steve Pearce
Richard Bootle
Robert W. Baird Tel: +44 (0)207 667 8225
(Financial Adviser and Rule 3 Adviser to Waterlogic Plc) Tel: +1 (414) 765 7247
Vinay Ghai
Steve Guy
Redleaf Polhill Tel: +44 (0)207 382 4730
Rebecca Sanders Hewett / David Ison waterlogic@redleafpr.com
Information on Waterlogic Plc
Waterlogic (AIM: WTL.L) is a leading designer, assembler,
distributor and operator of mains attached point-of-use ("POU")
drinking water purification and dispensing systems designed for
environments such as offices, factories, hospitals, hotels,
schools, restaurants and other workplaces. Waterlogic is a Jersey
registered company.
Website: www.waterlogic.com
Further Information
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities, or the solicitation of any
vote or approval in any jurisdiction, pursuant to this announcement
or otherwise. Any offer will be made solely by certain offer
documentation which, if published, will contain the full terms and
conditions of any offer, including details of how it may be
accepted.
The distribution of this announcement in jurisdictions outside
the United Kingdom may be restricted by law and therefore persons
into whose possession this announcement comes should inform
themselves about, and observe, such restrictions. Any failure to
comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction.
Summary of Rule 8
Under Rule 8.3(a) of the Takeover Code, any person who is
interested in 1% or more of any class of relevant securities of an
offeree company or of any securities exchange offeror (being any
offeror other than an offeror in respect of which it has been
announced that its offer is, or is likely to be, solely in cash)
must make an Opening Position Disclosure following the commencement
of the offer period and, if later, following the announcement in
which any securities exchange offeror is first identified. An
Opening Position Disclosure must contain details of the person's
interests and short positions in, and rights to subscribe for, any
relevant securities of each of (i) the offeree company and (ii) any
securities exchange offeror(s). An Opening Position Disclosure by a
person to whom Rule 8.3(a) applies must be made by no later than
3.30 pm (London time) on the 10th business day following the
commencement of the offer period and, if appropriate, by no later
than 3.30 pm (London time) on the 10th business day following the
announcement in which any securities exchange offeror is first
identified. Relevant persons who deal in the relevant securities of
the offeree company or of a securities exchange offeror prior to
the deadline for making an Opening Position Disclosure must instead
make a Dealing Disclosure.
Under Rule 8.3(b) of the Takeover Code, any person who is, or
becomes, interested in 1% or more of any class of relevant
securities of the offeree company or of any securities exchange
offeror must make a Dealing Disclosure if the person deals in any
relevant securities of the offeree company or of any securities
exchange offeror. A Dealing Disclosure must contain details of the
dealing concerned and of the person's interests and short positions
in, and rights to subscribe for, any relevant securities of each of
(i) the offeree company and (ii) any securities exchange offeror,
save to the extent that these details have previously been
disclosed under Rule 8. A Dealing Disclosure by a person to whom
Rule 8.3(b) applies must be made by no later than 3.30 pm (London
time) on the business day following the date of the relevant
dealing.
If two or more persons act together pursuant to an agreement or
understanding, whether formal or informal, to acquire or control an
interest in relevant securities of an offeree company or a
securities exchange offeror, they will be deemed to be a single
person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree
company and by any offeror and Dealing Disclosures must also be
made by the offeree company, by any offeror and by any persons
acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose
relevant securities Opening Position Disclosures and Dealing
Disclosures must be made can be found in the Disclosure Table on
the Takeover Panel's website at www.thetakeoverpanel.org.uk,
including details of the number of relevant securities in issue,
when the offer period commenced and when any offeror was first
identified. You should contact the Panel's Market Surveillance Unit
on +44 (0)207 638 0129 if you are in any doubt as to whether you
are required to make an Opening Position Disclosure or a Dealing
Disclosure.
This announcement will be available on the Company's website at
www.waterlogic.com as soon as possible and in any event by no later
than 12 noon on 28 July 2014.
Robert W. Baird Limited, which is authorised and regulated by
the FCA, is acting exclusively as financial advisor to Waterlogic
and for no one else in connection with the matters referred to in
this announcement and will not be responsible to anyone other than
Waterlogic for providing the protections afforded to clients of
Robert W. Baird Limited nor for providing advice in relation to the
matters referred to in this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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