Business
Proposed Placing and Notice of General Meeting
Proposed Placing and Notice of General Meeting.
About this update from Windar Photonics Plc
[{"type":"text","content":"\n \n \n 9 November 2022\n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n \n WINDAR PHOTONICS PLC\n \n \n \n \n (\"Windar\", the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n Proposed placing to raise approximately £2 million\n \n \n \n \n and\n \n \n \n \n Notice of General Meeting\n \n \n \n \n \n \n \n \n Windar (AIM:WPHO), the technology group that has developed a cost efficient and innovative LiDAR wind sensor for use on electricity generating wind turbines, is pleased to announce it will today be publishing a circular to send to Shareholders setting out the details of a proposed Placing to raise approximately £2 million, by way of a Placing of 13,333,334 New Ordinary Shares at a price of 15 pence per share, approval to which will be sought at a General Meeting to be held on 25 November 2022 at West Hill Corporate Finance Ltd, 85 Gresham Street, London, EC2V 7NQ at 10.00 a.m.\n \n \n All capitalised terms in this announcement are as defined in the Circular which, in addition to the Notice of General Meeting and other relevant documents, will be available on the Company's website, www.windarphotonics.com.\n \n \n \n Background\n \n \n \n On 26 June 2022, the Board announced that the Company would not be in a position to publish its 2021 Accounts by the required publication date of 30 June 2022 and that accordingly the Company's shares would temporarily be suspended from trading on AIM.\n \n \n In light of the Placing announced this morning, the Board now anticipates that the results for the year ended 31 December 2021, together with the interim results for the six months ended 30 June 2022, will be announced, and the\n 2021\n Accounts posted to Shareholders, by 23 November 2022.\n \n \n The Board then intends to request that trading in the Existing Ordinary Shares on AIM resume.\n \n \n \n Current trading and prospects\n \n \n \n The Board believes that the Group's operations have recovered well from the severe Covid restrictions that it ...