Business
Issue of new shares in respect of Share Options
Issue of new shares in respect of Share Options.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5617S\n Water Intelligence PLC\n 16 November 2021\n \n \n \n \n 16 November 2021\n \n \n \n \n \n Water Intelligence plc\n \n \n (\"Water Intelligence\" or the \"Company\")\n \n \n \n \n \n Issue of new shares in respect of Share Options\n \n \n \n \n \n Water Intelligence plc (AIM: WATR.L), a leading multinational provider of non-invasive leak detection and remediation services for both potable and non-potable water, announced on 12 November 2021 that it has raised £12.2m by way of a placing of 1,016,667 new ordinary shares of 1 penny each (the \"Placing Shares\") at 1,200 pence per share. The Company confirms that the Placing Shares are expected to be admitted to trading on AIM (\"Admission\") at 8.00am on 17 November 2021.\n \n \n \n \n \n In addition, the Company announced that a franchisee had requested to exercise their options over a further 25,000 new ordinary shares of 1 penny each (the \"Option Shares\") and that the Option Shares were to be sold on essentially the same terms as the Placing Shares, for settlement on 17 November 2021, subject to Admission (together with the Placing, the \"Transaction\"). \n \n \n \n \n \n As part of the Transaction, the Company now announces that both the exercise of the options and sale of the Option Shares has been cancelled and that the Company will instead issue and allot a further 25,000 new ordinary shares (\"New Ordinary Shares\") to be sold alongside the Placing Shares, the consideration for which will be paid to the holder of the options in lieu of the issue of the Option Shares. It is anticipated that the New Ordinary Shares will be admitted to trading on AIM at the same time as the Placing Shares, being 8.00 a.m. on 17 November 2021, with settlement also on 17 November 2021. As a result of this transaction, the franchisee has agreed that their option over 25,000 shares has also been voided.\n \n \n \n \n \n Total Voting Rights\n \n \n \n \n \n As previously stated upon Admission, the issued share capital of the Company will be 19,447,688 shares of 1 penny each (\"Ordinary Shares\"), divided into 17,367,688 Ordinary Shares (of which 36,500 Ordinary Shares will be held by the Company in treasury) admitted to trading on AIM and which entitle the holder to 1 vote per ordinary share; and 2,080,000 B ordinary ...