TIDMADT
RNS Number : 7919D
AdEPT Technology Group PLC
21 February 2020
THIS ANNOUNCEMENT, INCLUDING THE APPENDIX, AND THE INFORMATION
CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION
OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN,
INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE
THE IMPORTANT NOTICES WITHIN THIS ANNOUNCEMENT.
FURTHER, THIS ANNOUNCEMENT IS MADE FOR INFORMATION PURPOSES ONLY
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR SOLICITATION
TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE SHARES IN ADEPT
TECHNOLOGY GROUP PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER OR
SOLICITATION WOULD BE UNLAWFUL.
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY
THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER
THE MARKET ABUSE REGULATION ("MAR"). UPON THE PUBLICATION OF THE
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION
IS CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
21 February 2020
AdEPT Technology Group plc
("AdEPT" or the "Company")
Result of Placing and Subscription
Further to the announcement made earlier today, the Company is
pleased to announce that in light of additional investor demand the
Placing has been increased and the Company can confirm that it has
successfully raised gross proceeds of approximately GBP4.25 million
through a Placing of 1,320,312 new Ordinary Shares and a
Subscription of 7,813 new Ordinary Shares at the Issue Price with
new and existing investors.
The New Shares represent approximately 5.60 per cent. of the
Company's existing issued ordinary share capital.
The New Shares will, when issued, be credited as fully paid and
will rank pari passu in all respects with the Existing Ordinary
Shares, including the right to receive all dividends or other
distributions made, paid or declared in respect of such shares
after the date of issue of the New Shares.
Director Participation
Phil Race, Chief Executive of the Company, has subscribed for
Subscription Shares as outlined below:
Shareholder Number of Number of Shareholding % of Enlarged
Existing Ordinary Subscription following Issued Share
Shares Shares subscribed the Placing Capital
for and Subscription
Phil Race 2,778 7,813 10,591 0.04%
------------------- ------------------- ------------------ --------------
Related Party Transaction
Greenwood Investments Limited has subscribed for 80,000 Placing
Shares at the Issue Price in the Placing, as outlined below.
Shareholder Number of Number of Shareholding % of Enlarged
Existing Ordinary Placing Shares following Issued Share
Shares subscribed the Placing Capital
for and Subscription
Greenwood
Investments
Limited 5,220,000 80,000 5,300,000 21.17%
------------------- ---------------- ------------------ --------------
Greenwood Investments Limited is a "Substantial Shareholder" in
the Company for the purposes of the AIM Rules. It's subscription
for Placing Shares pursuant to the Placing (as described above) is
a related party transaction for the purposes of the AIM Rules. The
Company's independent directors consider, having consulted with the
Company's nominated adviser, Cantor Fitzgerald Europe, that the
terms of the Placing and Subscription are fair and reasonable
insofar as the Shareholders are concerned.
Admission
Application has been made to London Stock Exchange plc for the
New Shares to be admitted to trading on AIM ("Admission"). It is
expected that Admission will become effective and that dealings in
the Placing Shares and Subscription Shares will commence at 8.00
a.m. on 25 February 2020.
Total Voting Rights
Following Admission, the Company's issued share capital will
comprise 25,029,957 Ordinary Shares. The total number of voting
rights in the Company will be 25,029,957. This figure may be used
by shareholders 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 share capital of the
Company under the Disclosure Guidance and Transparency Rules of the
Financial Conduct Authority.
Definitions
Other than where defined, capitalised terms used in this
announcement have the meanings given to them in the announcement
released by the Company at 7.00 a.m. on 21 February 2020.
Enquiries:
AdEPT Technology Group Plc
Phil Race, Chief Executive 07798 575 338
John Swaite, Finance Director 01892 550 243
Cantor Fitzgerald Europe
Nominated Adviser & Broker
Phil Davies, Will Goode, Adam Dawes (Corporate
Finance)
Caspar Shand Kydd, Arthur Gordon, Maisie Atkinson
(Sales) 020 7894 7000
The person responsible for arranging the release of this
information is John Swaite, Finance Director of the Company.
Overview of AdEPT Technology Group plc
AdEPT is a UK provider of managed services for IT, unified
communications, connectivity, voice and cloud services. The Company
has a long-established customer base in 4 strategic sectors:
Education, Health, Commercial and the Public Sector. AdEPT's
tailored services are used by customers across the UK and are
brought together through strategic relationships with tier-1
suppliers such as Openreach (a functional Division of BT), BT
Wholesale, Talk Talk, Gamma, Avaya, Microsoft and Dell.
AdEPT combines multi-product solutions from a number of
communications and IT partners to provide tailored solutions to
meet the specific requirements of customers. AdEPT is widely
recognised as a multi-site multi product specialist, with thousands
of customers taking a range of products. AdEPT is increasingly
focused on customers who can benefit from AdEPT's ability to
provide a fully unified communication, network and IT solution
(ICT).
Notification of Dealing Forms
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name Phil Race
2 Reason for the notification
a) Position/status Chief Executive
b) Initial notification/ Amendment Initial
3 Details of the issuer, emission allowance market participant, auction platform, auctioneer
or auction monitor
a) Name AdEPT Technology Group Plc
b) LEI 213800T1WNDEXVBGMP93
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 10p each
Identification code GB00B0WY3Y47
b) Nature of the transactions Subscription for Ordinary Shares
c) Price(s) and volume(s) Price(s) Volume(s)
320p 7,813
d) Aggregated information N/A
- Aggregated volume
- Price
e) Date of the transaction 21 February 2020
f) Place of the transaction London Stock Exchange
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.
END
IOEFLFLEFLILFII
(END) Dow Jones Newswires
February 21, 2020 10:15 ET (15:15 GMT)
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