Hawkwing PLC Admission to Standard List (5033A)
30 Septiembre 2020 - 01:00AM
UK Regulatory
TIDMHNG
RNS Number : 5033A
Hawkwing PLC
30 September 2020
30 September 2020
Hawkwing plc
("Hawkwing" or the "Company")
Admission to Standard List and First Day of Dealings
Hawkwing is pleased to announce that further to the announcement
of 23 September 2020 admission of its ordinary shares of GBP0.02
each ("Ordinary Shares") to the Official List (by way of a Standard
Listing under Chapter 14 of the Listing Rules) and to trading on
the London Stock Exchange's Main Market is expected to become
effective at 8.00 a.m. today, following the cancellation of trading
of the Ordinary Shares on AIM ("Admission"). The Ordinary Shares
will continue to trade on the Official List under the ticker
"HNG".
In conjunction with the Admission, the Company has successfully
raised gross proceeds of GBP1,293,500 (GBP1,205,000 net) through a
placing of 43,116,659 new Ordinary Shares at a price of GBP0.03 per
Ordinary Share ("Placing"). The net proceeds of the Placing will be
used to evaluate potential acquisitions, undertake due diligence on
and pay other transaction costs in connection with an acquisition,
and working capital purposes.
Overview
Following Admission, Hawkwing is seeking to acquire one or more
companies in the technology sector. The Directors believe that
Admission will:
-- Increase the Company's ability to make an acquisition;
-- Enable the Company to use its shares as currency for an acquisition; and
-- Provide a new trading platform for the Company's shares on
the London Stock Exchange's Main Market.
Strategy
The Company will look to acquire technology companies that
provide solutions for specific industries such as digital
marketing, medical applications, business and financial services
and the sports sector. These businesses will provide specialised,
mission-critical technology solutions for specific industries as
opposed to being applicable across different sectors.
This strategy has been adopted as the Directors believe that
this offers the opportunity for value enhancement and that this
strategy will be attractive to investors. The Directors have
experience and knowledge across digital marketing, business and
financial services, investment and fund management and sports
sectors.
The Directors will also use their knowledge and experience
across a wide range of industry sectors in acquiring, investing and
integrating businesses, which allows them to assess the viability
of acquisition opportunities and their management teams, which is
fundamental to finding the right acquisition.
The Company does not have any specific acquisition under
consideration and does not expect to engage in substantive
negotiations with any target company or business until after
Admission.
Total Voting Rights
Following the Placing, the Company's issued share capital
comprises 50,288,019 Ordinary Shares each with voting rights. No
Ordinary Shares are held in treasury. Therefore, the total number
of Ordinary Shares in the Company with voting rights is 50,288,019.
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
Company under the FCA's Disclosure Guidance and Transparency
Rules.
For further information about the Company please visit its
website at www.hawkwing.co
Enquiries:
Hawkwing plc
Keith Sadler, Senior Independent Non-Executive +44 20 7618
Director 9100
Beaumont Cornish Limited (Financial Adviser)
+44 20 7628
Roland Cornish, James Biddle 3396
Dowgate Capital (Broker)
+44 20 3903
David Poutney, James Sarjeant 7715
Luther Pendragon
+44 20 7618
Harry Chathli, Alexis Gore 9100
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END
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September 30, 2020 02:00 ET (06:00 GMT)
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