Admission to Trading on AIM, First Day of Dealings

RNS Number : 5535W

Libertine Holdings PLC

23 December 2021

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (INCLUDING ITS TERRITORIES AND DEPENDENCIES, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (COLLECTIVELY, THE "UNITED STATES"), CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW

23 December 2021

Libertine Holdings PLC

("Libertine" the "Company" or the "Group")

Admission to Trading on AIM, First Day of Dealings

Libertine Holdings PLC, a developer of clean, highly efficient and fuel-flexible Linear Generator products, is pleased to announce the admission of its entire issued and to be issued ordinary share capital to trading on the AIM market of the London Stock Exchange ("Admission"). Admission will take place and dealings will commence at 8.00 am GMT today under the ticker LIB and ISIN GB00BN6PSG15 .

Founded in 2009, the Group has developed a technology solution for powertrain original equipment manufacturers, enabling efficient and clean power generation from renewable fuels. Under the Placing, the Company has conditionally raised £9 million (before expenses) . The net proceeds will provide the Company with funds to increase headcount to support business development and commercial project delivery,   enhance the Group's technology platform for integration into customer products, and expand the Group's existing operating facilities to provide further testing and prototype build capacity.

Admission follows a successful placing by Panmure Gordon (UK) Limited ("Panmure Gordon"), of 45,000,000 new ordinary shares (the "Placing Shares") of 0.1 pence each in the capital of the Company (the "Shares") at a price of 20 pence per share (the "Placing Price") raising gross proceeds of £9.0 million. On Admission the Company will have a market capitalisation of approximately £27.6 million and 138,089,010 Shares in issue.

The Company's Admission Document is available to view on the Company's website at https://libertine.co.uk/ . 

Sam Cockerill, Chief Executive of Libertine, commented:  

"The successful completion of our IPO represents an exciting milestone and marks the beginning of the next phase for Libertine, building on our recent technical and commercial progress. This new investment will allow us to expand our core technology development and business development activities as we work with OEM partners to create Linear Generator products that will work alongside battery electrification to produce clean power from renewable fuels.

"I am delighted to welcome our new shareholders and would like to thank them for their support and for sharing our vision. We look forward to working with them in the years ahead, building on our strong foundations and delivering our growth plans as we help our OEM partners realise the full potential of Linear Generator technology."

For more information, please visit www.libertine.co.uk or contact:

Libertine Holdings plc		via Tavistock
Sam Cockerill, Chief Executive Officer
Gareth Hague, Chief Financial Officer
Panmure Gordon (NOMAD and Broker)		[phone]
John Prior
Ailsa Macmaster
Hugh Ruch (Corporate Broking)
Tavistock (Public Relations)		[phone]
Simon Hudson		libertine @tavistock.co.uk
Rebecca Hislaire
Nick Elwes

Notes to editors

Founded in 2009, Libertine has developed a technology solution for powertrain original equipment manufacturers ("OEMs"), enabling efficient and clean power generation from renewable fuels.

Libertine's linear electrical machines, controls and developer tools together form a technology platform (intelliGEN™) which the Company provides to OEM customers for the development of clean, highly efficient and fuel-flexible Linear Generator products. The platform is a result of over a decade of development of Linear Generator technology with multiple successful client-led development programmes.

Linear Generators have the potential to complement battery electrification within hybrid powertrains as range extenders, addressing a number of significant practical and economic barriers to the rapid adoption of clean electric propulsion using battery electric powertrain technology alone.

The potential market for Linear Generator products goes well beyond the distributed power generation applications where Linear Generators are already in commercial use today. The addressable market for Linear Generators includes over 12 million heavy-duty and light duty commercial vehicles as well as off-grid, waste-to-energy, energy storage and other distributed power generation applications, which in total are estimated to be worth between $80-120 billion by 2025.

Linear Generator products using Libertine's technology could work alongside battery electrification in hybrid systems to accelerate the decarbonisation of 'hard to electrify' applications, including:

· heavy-duty and off highway powertrains;

· medium and light-duty commercial hybrid vehicles;

· a proportion of the passenger automotive market where vehicle use, and recharging constraints are a barrier to electrification; and

· a range of distributed power generation applications.

Libertine receives engineering fees by providing linear e-machine hardware, controls and developer tools. Working with OEMs ensures Libertine's technology platform is effectively integrated into OEM partner product development programmes from an early stage in the development cycle, maximising the performance and economic benefits provided by Libertine's platform technology.

Libertine has developed a portfolio of over 30 granted patents in addition to a significant body of technical know-how since the company's formation in 2009. The Company's senior management team and board includes executives with decades of deep technical experience in the automotive and energy industries.

Important Notices

This announcement is for information purposes only and does not constitute, or form part of, any offer or invitation to sell, allot or issue, or any solicitation of any offer to purchase or subscribe for, any securities in the Company in any jurisdiction nor shall it, or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with or act as an inducement to enter into, any contract or commitment therefor.

Panmure Gordon which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for the Company and no-one else in connection with the Placing and Admission. Panmure Gordon will not regard any other person as its client in relation to the Placing or Admission and will not be responsible to anyone other than the Company for providing the regulatory protections afforded to its clients, nor for providing advice in relation to the contents of this announcement or any transaction, arrangement or other matter referred to herein. The responsibility of Panmure Gordon as nominated adviser to the Company is owed solely to the London Stock Exchange and is not owed to the Company or any director of the Company or to any other person in respect of such person's decision to acquire shares in the Company. To the fullest extent permitted by law, no representation or warranty, express or implied, is made by Panmure Gordon as to the contents of this announcement or any matter, transaction or arrangement referred to in it, and no liability whatsoever is accepted by Panmure Gordon for the accuracy of any information or opinions contained in this announcement or for the omission of any material information for which it is not responsible.

This announcement is not for publication or distribution, in whole or in part, directly or indirectly, in or into the United States, Australia, Canada, the Republic of South Africa, the Republic of Ireland, New Zealand, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement does not form the basis of or constitute any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any Ordinary Shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or commitment therefor. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, Ordinary Shares in the United States.

For the avoidance of doubt, the contents of the Company's websites are not incorporated by reference into, and do not form part of, this announcement.

 

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