TIDMCNC
RNS Number : 3973K
Concurrent Technologies PLC
25 August 2023
THIS ANNOUNCEMENT (THE "ANNOUNCEMENT") AND THE INFORMATION
CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE
OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR
INTO THE UNITED STATES OF AMERICA, ITS STATES, TERRITORIES AND
POSSESSIONS ("UNITED STATES"), AUSTRALIA, CANADA, JAPAN, SINGAPORE,
THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH
SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY
ANY APPLICABLE LAW.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR ISSUE
OR THE SOLICITATION TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY
SECURITIES.
THIS ANNOUNCEMENT WAS DEEMED BY THE COMPANY (DEFINED BELOW) TO
CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO
THE MARKET ABUSE (AMMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK
MAR").
25 August 2023
Concurrent Technologies plc
("Concurrent Technologies" or the "Company")
Result of Retail Offer
Further to the announcement by the Company in respect of the
Retail Offer dated 16 August 2023 (the "Retail Offer
Announcement"), Concurrent Technologies (AIM: CNC), a world leading
specialist in the design and manufacture of high-end embedded
computer solutions for critical applications, is pleased to
announce that, following the closing of the Retail Offer on the
BookBuild platform on 24 August 2023, 461,538 Retail Offer Shares
will be issued at the Issue Price of 65 pence per share in
connection with the Retail Offer, which was significantly
oversubscribed.
Allocations were made to existing Shareholders, applying the
principles of soft pre-emption. Given the significant demand,
existing Shareholders received approximately 67 per cent. of their
soft pre-emptive allowance, when their order matched or exceeded
their soft pre-emptive allowance.(1)
Other than where defined, capitalised terms used in this
Announcement have the meanings given to them in the Retail Offer
Announcement.
Consequently, 10,000,000 Placing Shares, 461,538 Retail Offer
Shares and 1,807,686 Consideration Shares resulting in a total of
12,269,224 New Ordinary Shares will be issued in relation to the
Fundraising and Acquisition.
Completion of the Retail Offer is conditional, inter alia, upon
approval of the Shareholders at the General Meeting to be held on 4
September 2023, the Placing becoming unconditional and on Admission
of the New Ordinary Shares. It is expected that Admission of the
New Ordinary Shares will become effective and that dealings will
commence at 8.00 a.m. on 5 September 2023.
Following Admission of the New Ordinary Shares, the Company will
have 85,632,714 Ordinary Shares in issue. The New Ordinary Shares
to be issued, when issued, will be fully paid and will rank pari
passu in all respects with the existing Ordinary Shares, including
the right to receive all dividends and other distributions
declared, made or paid after the date of issue.
Miles Adcock, CEO of Concurrent Technologies plc, commented:
"We were delighted to see the inclusion of private investors in
the Fundraise via the BookBuild platform. The retail offer was
significantly oversubscribed demonstrating excellent support for
the Company."
Enquiries:
Concurrent Technologies Plc
Miles Adcock, CEO
Kim Garrod, CFO +44 (0)1206 752626
SEC Newgate (Financial PR)
Bob Huxford +44 (0)20 3757 6880
Alice Cho
Matthew Elliot concurrent@secnewgate.co.uk
Cenkos Securities Plc (NOMAD
& Broker)
Neil McDonald +44 (0)131 220 9771
Peter Lynch +44 (0)131 220 9772
1 - Soft Pre-emptive allowance Calculation: Existing shares X
16.724% (Dilution from total new shares being issued) = Soft
Pre-emptive allowance shares
Soft Pre-emptive allowance shares X c.67% = Soft Pre-emptive
allowance allocated shares
IMPORTANT NOTICE
The content of this Announcement has been prepared by, and is
the sole responsibility of, the Company.
This Announcement, and the information contained herein is not
for release, publication or distribution, directly or indirectly,
in whole or in part, in or into or from the United States, Canada,
Australia, Singapore, Japan or the Republic of South Africa, or any
other jurisdiction where to do so might constitute a violation of
the relevant laws or regulations of such jurisdiction (the
"Restricted Jurisdictions").
This Announcement is not for publication or distribution,
directly or indirectly, in or into the United States of America.
This Announcement is not an offer of securities for sale into the
United States. The Retail Shares referred to herein have not been
and will not be registered under the Securities Act and may not be
offered or sold in the United States, expect pursuant to an
applicable exemption from registration. No public offering of
Retail Shares is being made in the United States.
This Announcement does not constitute or form part of an offer
to sell or issue or a solicitation of an offer to buy, subscribe
for or otherwise acquire any securities in any jurisdiction
including, without limitation, the Restricted Jurisdictions or any
other jurisdiction in which such offer or solicitation would be
unlawful. This Announcement and the information contained in it is
not for publication or distribution, directly or indirectly, to
persons in a Restricted Jurisdiction, unless permitted pursuant to
an exemption under the relevant local law or regulation in any 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 has not been approved by the London Stock
Exchange or any other securities exchange.
No prospectus or offering document will be made available in
connection with the matters contained in this Announcement and no
such prospectus is required (in accordance with the EU Prospectus
Regulation or the UK Prospectus Regulation ) to be published.
Certain statements in this Announcement are forward-looking
statements which are based on the Company's expectations,
intentions and projections regarding its future performance,
anticipated events or trends and other matters that are not
historical facts. These forward-looking statements, which may use
words such as "aim", "anticipate", "believe", "could", "intend",
"estimate", "expect" and words of similar meaning, include all
matters that are not historical facts. These forward-looking
statements involve risks, assumptions and uncertainties that could
cause the actual results of operations, financial condition,
liquidity and dividend policy and the development of the industries
in which the Group's businesses operate to differ materially from
the impression created by the forward-looking statements. These
statements are not guarantees of future performance and are subject
to known and unknown risks, uncertainties and other factors that
could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. Given
those risks and uncertainties, prospective investors are cautioned
not to place undue reliance on forward-looking statements.
Forward-looking statements speak only as of the date of such
statements and, except as required by the FCA, the London Stock
Exchange or applicable law, the Company undertakes no obligation to
update or revise publicly any forward-looking statements, whether
as a result of new information, future events or otherwise.
Any indication in this Announcement of the price at which the
Ordinary Shares have been bought or sold in the past cannot be
relied upon as a guide to future performance. Persons needing
advice should consult an independent financial adviser. No
statement in this Announcement is intended to be a profit forecast
and no statement in this Announcement should be interpreted to mean
that earnings per share of the Company for the current or future
financial years would necessarily match or exceed the historical
published earnings per share of the Group.
Cenkos Securities, which is authorised and regulated in the
United Kingdom by the FCA, is acting for the Company and for no one
else in connection with the transaction or arrangements described
in this Announcement and will not be responsible to anyone other
than the Company for providing the protections afforded to clients
of Cenkos Securities or for providing advice in relation to the
transaction or arrangements described in this Announcement, or any
other matters referred to in this Announcement.
No representation or warranty, express or implied, is or will be
made as to, or in relation to, and no responsibility or liability
is or will be accepted by or on behalf of the Company, Cenkos
Securities, or by their affiliates or their respective agents,
directors, officers and employees as to, or in relation to, the
accuracy or completeness of this Announcement or any other written
or oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed.
The Retail Shares to be issued pursuant to the Retail Offer will
not be admitted to trading on any stock exchange other than to
trading on AIM, being the market of that name operated by the
London Stock Exchange.
Neither the content of the Company's website (or any other
website) nor the content of any website accessible from hyperlinks
on the Company's website (or any other website) is incorporated
into, or forms part of, this Announcement.
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END
MSCPPUACRUPWGQC
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August 25, 2023 02:00 ET (06:00 GMT)
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