Business
Completion of Fundraise and PDMR Dealing
Completion of Fundraise and PDMR Dealing.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \nRNS Number : 7151Y Water Intelligence PLC 10 May 2019 \n\nTHIS 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. \nWater Intelligence plc\n(\"Water Intelligence\" or the \"Company\")\nCompletion of Fundraise\nPDMR Dealing\n \nWater Intelligence, a leading provider of non-invasive leak detection and remediation services, is pleased to confirm that, further to the Company's announcement earlier today, it has raised £3.2 (the \"Fundraising\") in an oversubscribed placing and subscription, through the issue of an aggregate of 863,402 new ordinary shares of one penny each in the capital of the Company (\"Ordinary Shares\") at a price of 370 pence per Ordinary Share (the \"Issue Price\").\nThe fundraising (the \"Fundraising\") comprised a placing (the \"Placing\") of 500,000 new Ordinary Shares (\"Placing Shares\") to raise £1.85 million and a subscription (the \"Subscription\") of 363,402 Ordinary Shares (\"Subscription Shares\") to raise a total of approximately £1.3 million. In addition, Patrick DeSouza, executive chairman of the Company, and persons closely associated with him, have agreed to exercise 300,000 options over Ordinary Shares and David Silverstone has agreed to exercise 50,000 options over Ordinary Shares (\"Exercise Shares\") and all have agreed to sell these to incoming investors from the Subscription at the Issue Price (the Placing Shares, Subscription Shares and Exercise Shares, together the \"New Ordinary Shares\") (the \"Share Transaction\").\nMichael Reisman and Laura Hills purchased 4,153 and 24,919 newly issued Ordinary Shares through the Subscription. \nAll terms used in this announcement are the same, unless otherwise specified, as those in the Company's earlier announcement today launching the Fundraising.\nDr. Patrick DeSouza, Executive Chairman of Water Intelligence, commented:\n\"We are delighted that investors on both sides of the Atlantic have continued to support us in growing the Company with £3.2 million. Combined with the expansion of bank financing facilities...