Windar Photonics PLC - Equity subscription
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
("Windar" or the "Company")
The net proceeds of the Subscription will be used to strengthen the Company's balance sheet.
The Issue Price represents the mid-market closing price of
Application will be made to the
Following Admission, the Company will therefore have 49,626,080 Ordinary Shares in issue, none of which will be held in treasury. This number may be used by shareholders in Windar as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of Windar under the
Jørgen Korsgaard Jensen, Chief Executive Officer of Windar, commented:
"Following the recently announced guidance to the market, I am pleased to announce this Subscription and the strong support from both new and existing shareholders in Windar and not least the support from our financial advisers
"Windar has a strong and supportive shareholder group as shown by this oversubscription. We are pleased to support the Company in its mission to become the world's leading manufacturer of LiDAR-based optimisation technology for the wind energy industry. The world needs more efficient renewable energy generation to meet the target of net zero carbon emissions by 2050 and Windar is uniquely positioned to enhance the efficiency of energy generation from wind turbines in general."
For further information:
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Jørgen Korsgaard Jensen, CEO
Nominated Adviser and Broker
Keith Dowsing (Sales)
+44 (0)20 7894 7000
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+44 (0)20 3440 7556
Windar Photonics is a technology group that develops cost-efficient and innovative Light Detection and Ranging ("LiDAR") optimization systems for use on electricity generating wind turbines. LiDAR wind sensors in general are designed to remotely measure wind speed and direction.
This information is provided by RNS, the news service of the
Quick facts: Windar Photonics PLC
Market Cap: £10.45 m
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