Result of General Meeting

RNS Number : 6161O

Ubisense Group PLC

29 May 2015

 



29 May 2015

Ubisense Group plc

Result of General Meeting

Ubisense Group plc (AIM: UBI) ("Ubisense", the "Company" or the "Group"), a leader in enterprise location intelligence solutions, is pleased to announce that, in connection with the £10 million fundraising announced by the Company on 8 May 2015, all resolutions put to shareholders at the General Meeting today were duly passed.

Application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 1 June 2015. Following Admission the Company will have 36,173,954 shares in issue.

Ubisense CEO Richard Green said:

"We are delighted with the strong support of both existing and new shareholders in this placing, which was oversubscribed and priced at a negligible discount. Ubisense now has a strong balance sheet which equips us to maximise a very substantial market opportunity and our transition towards a greater emphasis on higher margin Solutions business. In this respect we have continued to make notable progress.

"In addition to the recently announced General Motors contract, the Group has also completed a first-time Solutions sale into Magna, a worldwide leading brand-independent engineering and manufacturing partner to vehicle OEMs with 316 manufacturing operations in 29 countries. These recent new customer wins, together with the significant upsell opportunity in our existing customer base, position Ubisense for strong growth."

For further information, please contact:

Ubisense Group plc                                             [phone]

Richard Green, Chief Executive

Robert Parker, Chief Financial Officer

Numis Securities Limited                                   [phone]

Simon Willis, Jamie Lillywhite (Corporate Finance)

Rupert Krefting, Toby Adcock (Corporate Broking)

Montfort Communications                                [phone]

Nick Miles                                                          [phone]

 

END

 

 

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