Result of Open Offer, General Meeting and TVR

RNS Number : 5206X

Trackwise Designs PLC

05 January 2022

 

THIS ANNOUNCEMENT 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, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. THIS ANNOUNCEMENT SHOULD BE READ IN ITS ENTIRETY. FURTHER DETAILS OF THE FUNDRAISING ARE SET OUT BELOW.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF TRACKWISE DESIGNS PLC.

Terms not otherwise defined herein shall have the meanings given in the section entitled "Definitions" IN THE COMPANY'S ANNOUNCEMENT OF 16 DECEMBER 2021.

TRACKWISE DESIGNS PLC

("Trackwise", the "Company" or the "Group")

Result of Open Offer and General Meeting

and Total Voting Rights

The Board of Trackwise Designs plc, a provider of specialist products using printed circuit technology, is pleased to announce that it has received valid acceptances from Qualifying Shareholders in respect of 3,065,069 Open Offer Shares, including applications for 2,648,010 Open Offer Shares under the Excess Application Facility. This represents approximately 245.1 per cent. of the 1,250,336 New Ordinary Shares available under the Open Offer. Following scaling back, the maximum amount of Open Offer Shares, being 1,250,336, will be issued to Qualifying Shareholders who have validly applied for the Open Offer Shares.

The Company has therefore raised, in aggregate, approximately £7.0 million (before expenses) through the Placing, Open Offer and Subscription.

The Board is also pleased to announce that at the General Meeting held earlier today, all Resolutions were duly passed by Shareholders.

Application has been made for the 7,329,051 New Ordinary Shares (being the Second Tranche Shares which comprise 6,068,583 Placing Shares, 10,132 Subscription Shares and the 1,250,336 Open Offer Shares) to be admitted to trading on AIM. It is expected that Second Tranche Admission will occur and dealings in the New Ordinary Shares will commence at 8.00 a.m. on 6 January 2022.

Following Second Tranche Admission, the total number of Ordinary Shares in issue will be 37,508,065. There are no Ordinary Shares held in treasury. Accordingly, the total number of voting rights in the Company on Second Tranche Admission will be 37,508,065. This figure may be used by Shareholders as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. 

Philip Johnston, CEO of Trackwise, commented:

"We appreciate and recognise the continuing support shown by existing investors and welcome new shareholders to Trackwise. This Open Offer has allowed those shareholders not participating in the earlier Placing and Subscription to continue to invest in Trackwise and we are delighted with the interest shown. The combined proceeds of £7m from these fundraises will enable the delivery of a step change in our IHT commercial proposition."

Enquiries:

Trackwise Designs plc	[phone]
Philip Johnston, CEO	www.trackwise.co.uk
Mark Hodgkins, CFO
finnCap Ltd	[phone]
NOMAD and Broker
Ed Frisby / Kate Bannatyne / Tim Harper - Corporate Finance Andrew Burdis / Barney Hayward - ECM
Alma PR	[phone]
Financial PR and IR
Caroline Forde / Josh Royston / David Ison

Notes to editors

Trackwise is a UK-based manufacturer of specialist products using printed circuit technology.

The full suite includes: Improved Harness Technology™ ("IHT") and Advanced PCBs - Microwave and Radio Frequency ("RF"), Short Flex, Flex Rigid and Rigid Multilayer products.

IHT uses a proprietary, patented process that Trackwise has developed to manufacture multilayer flexible printed circuits of unlimited length. While the technology has many applications, the directors expect that one of its primary uses will be to replace traditional wire harness in a variety of industries.

The Company manufactures on two sites, located in Tewkesbury and Stevenage (following the acquisition of Stevenage Circuits Ltd in April 2020). It serves customers in Europe and North America. The Company has acquired a third site in Stonehouse Gloucestershire initially for its EV programme.

Trackwise Designs plc was admitted to trading on AIM in 2018 with the ticker TWD. For additional information please visit www.trackwise.co.uk

Pursuant to the split First Tranche and Second Tranche Admissions, the participating Directors will complete their Second Tranche Admission participation.

1	Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")
a)	Name	Philip Johnston
2.	Reason for the Notification
a)	Position/status	Chief Executive Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Trackwise Designs plc
b)	LEI	549300KQIX5EWTJMFK75
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary Shares of 4 pence each
	Identification code	GB00BFYT9999
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 80p 40,525
d)	Aggregated information: · Aggregated volume · Price	See 4c) above
e)	Date of the transaction	6 January 2022
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1	Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")
a)	Name	Mark Hodgkins
2.	Reason for the Notification
a)	Position/status	Chief Financial Officer
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Trackwise Designs plc
b)	LEI	549300KQIX5EWTJMFK75
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary Shares of 4 pence each
	Identification code	GB00BFYT9999
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 80p 25,328
d)	Aggregated information: · Aggregated volume · Price	See 4c) above
e)	Date of the transaction	6 January 2022
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1	Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")
a)	Name	Susan McErlain
2.	Reason for the Notification
a)	Position/status	Non-Executive Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Trackwise Designs plc
b)	LEI	549300KQIX5EWTJMFK75
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary Shares of 4 pence each
	Identification code	GB00BFYT9999
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 80p 5,066
d)	Aggregated information: · Aggregated volume · Price	See 4c) above
e)	Date of the transaction	6 January 2022
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

1	Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA")
a)	Name	Charles Cattaneo
2.	Reason for the Notification
a)	Position/status	Non-Executive Director
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Trackwise Designs plc
b)	LEI	549300KQIX5EWTJMFK75
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	Ordinary Shares of 4 pence each
	Identification code	GB00BFYT9999
b)	Nature of the transaction	Purchase of Ordinary Shares
c)	Price(s) and volume(s)	Price(s) Volume(s) 80p 10,132
d)	Aggregated information: · Aggregated volume · Price	See 4c) above
e)	Date of the transaction	6 January 2022
f)	Place of the transaction	London Stock Exchange, AIM Market (XLON)

 

END

 

 

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