Windar Photonics PLC - Issue of Equity & Trading Update
This announcement contains inside information
Windar Photonics plc
("Windar" or the "Company")
Issue of Equity & Trading Update
Windar Photonics plc (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 that it has raised
As outlined in the Annual Report & Accounts for the year to
The Issue Price represents the mid-market closing price of
Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM and it is expected that such Admission will occur at
Following Admission, the Company will therefore have 54,151,080 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 FCA's Disclosure Guidance and Transparency Rules.
Jørgen Korsgaard Jensen, Chief Executive Officer of Windar, commented:
"I am pleased to announce this Subscription which, combined with the recent rearrangement of existing and new Growth Fund loans, provides Windar with a strengthened balance sheet to finance our expected growth in 2021.
I am also pleased today to be able to announce that, despite the impact of the Covid-19 pandemic in 2020, we expect to report revenue for the year to
This increase in revenue and recent cost saving initiatives are expected to result in a significant reduction in the underlying loss before tax in the second half of FY2020 compared to the first six months of the year. Despite all the difficulties the Covid-19 pandemic has brought upon us in 2020, I am very pleased with not only the recent financial and market developments but also the near completion of our next One-Unit product platform to be launched early 2021 with substantial performance and cost advantages for both our customers and Windar."
For further information, please contact:
Windar Photonics plc
Jørgen Korsgaard Jensen, CEO
Tel: +45 21689476
| || |
Cenkos Securities plc (Nomad & Broker)
Tel: 0131 220 6939
Notes to Editors:
Windar Photonics is a technology group that develops cost-efficient and innovative Light Detection and Ranging ("LiDAR") optimisation systems for use on electricity generating wind turbines. LiDAR wind sensors in general are designed to remotely measure wind speed and direction.
Quick facts: Windar Photonics PLC
Market Cap: -
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE