Business
Proposed £1.50 million Placing and Subscription
Proposed £1.50 million Placing and Subscription.
About this update from Light Science Technologies Holdings Plc
[{"type":"text","content":"\n \n \n \n \n \n \n Light Science Technologies Holdings plc\n \n \n \n (\"LSTH\" or the \"Company\")\n \n \n \n \n \n Proposed £1.50 million Placing and Subscription\n \n \n \n \n \n Light Science Technologies Holdings plc (AIM: LST), the controlled environment agriculture (\"CEA\") technology and contract electronics manufacturing (\"CEM\") group, is pleased to announce that it has conditionally raised gross proceeds of £1.50 million\n through the proposed issue of 150,000,000 new ordinary shares of 1 penny each (\"Ordinary Shares\") at a price of 1 penny per share (the \"Issue Price\") (the \"Fundraising\").\n \n \n \n \n \n The Fundraising consists of the placing of 107,750,000 new Ordinary Shares (the \"Placing Shares\") (the \"Placing\") as well as a private subscription for\n 42,250,000 new Ordinary Shares (\"Subscription Shares\") (the \"Subscription\"). Simon Deacon, Chief Executive Officer of the Company, has agreed to subscribe for 15,000,000 Subscription Shares.\n \n \n \n \n \n The Placing has been conducted by\n Oberon Investments Limited (\"Oberon Capital\"). Of the 107,750,000 Placing Shares, 29,500,000 Placing Shares have been placed with a single investor utilising the Company's existing authority to allot shares for cash on a non-pre-emptive basis (the \"Firm Placing Shares\"). The Firm Placing Shares areexpected to be admitted to trading on AIM at 8.00 a.m. on 5 April 2023 (\"First Admission\").\n \n \n \n \n \n The issue of the balance of 78,250,000 Placing Shares (the \"Conditional Placing Shares\"), the 42,250,000 Subscription Shares and any new Ordinary Shares issued under the Retail Offer (together the \"Conditional Shares\") is conditional on the Company obtaining the requisite approvals from Shareholders at a forthcoming General Meeting (the \"General Meeting\"). The Conditional Shares are expected to be admitted to trading on AIM on or around 24 April 2023 (\"Second Admission\").\n \n \n \n \n \n Retail offer\n \n \n The Company intends to offer up to 50,000,000 new O\n rdinary Shares at the Issue Price\n (the \"Retail Shares\") via the Winterflood Retail Access platform (WRAP) to raise up to £0.5 million\n gross proceeds (the \"Retail Offer\"), to provide qualifying retail investors in the United Kingdom with an opportunity to participate alongside the ...