TIDMUTW
RNS Number : 1700K
Utilitywise plc
20 June 2014
Utilitywise Plc
("Utilitywise" or "The Company")
Completed Secondary Placing
Utilitywise PLC (AIM:UTW), a leading independent utility cost
management consultancy, is pleased to announce that, finnCap, the
Company's broker, has conducted an oversubscribed placing of
10,350,525 existing ordinary shares of 0.1 pence in the Company
("Ordinary Shares") (the "Placing Shares" and the "Placing") with
new and existing institutional investors, at a price of 290 pence
per Ordinary Share.
Certain directors of the Company ("Directors") and employees
have also exercised, in aggregate, 2,038,750 options (the
"Options") over Ordinary Shares following the maturing of the
Utilitywise 2012 Long Term Incentive Plan. The 2,038,750 new
Ordinary Shares issued pursuant to the exercise of Options (the
"New Ordinary Shares") will rank pari passu with the Company's
existing Ordinary Shares. Application has been made for the New
Ordinary Shares to be admitted to trading on AIM ("Admission"), and
Admission is expected to occur at 8.00 a.m. on 26 June 2014.
The Placing Shares have been sold on behalf of certain
Directors, certain employees of the Company, and Simon Butterfield,
a former Director of the Company. The Placing Shares represent, in
aggregate, 13.9 per cent. of the enlarged issued share capital of
the Company.
Subsequent to the exercise of Options and the Placing, the
Directors' revised shareholdings are set out below:
Director Shareholding Options exercised Placing Shares Resultant shareholding
prior to the Sold
Exercise of
Options and
the Placing
Number % of Number % of Number % of Number % of
of issued of enlarged of Ordinary enlarged of Ordinary enlarged
Ordinary share Ordinary issued Shares issued Shares issued
Shares capital Shares share share share
capital capital capital
----------- --------- ----------- ----------- ------------ ----------- ------------ -------------
Geoff
Thompson 13,568,101 18.7% - - 5,380,000 7.2% 8,188,101 11.0%
----------- --------- ----------- ----------- ------------ ----------- ------------ -------------
Adam
Thompson 3,764,544 5.2% 625,000 0.8% 1,970,476 2.6% 2,419,068 3.2%
----------- --------- ----------- ----------- ------------ ----------- ------------ -------------
Andrew
Richardson 1,590,075 2.2% 625,000 0.8% 1,201,904 1.6% 1,013,171 1.4%
----------- --------- ----------- ----------- ------------ ----------- ------------ -------------
Richard
Feigen 66,667 0.1% 62,500* 0.1% 62,500 0.1% 66,667 0.1%
----------- --------- ----------- ----------- ------------ ----------- ------------ -------------
* represents Options held by Hub Capital Limited
In addition, following completion of the sale of 1,162,500
Placing Shares, Simon Butterfield, previously a Director of the
Company, will have a resultant shareholding of 1,162,500 Ordinary
Shares, representing approximately 1.6 per cent. of the enlarged
issued share capital of the Company.
All Ordinary Shares held by the Directors subsequent to the
Placing will remain subject to the lock-in obligations contained
within the lock-in deed entered into between Utilitywise plc,
finnCap Limited, Geoff Thompson, Andrew Richardson and Adam
Thompson, dated 12 June 2013.
Following the exercise of Options the issued share capital of
the Company is 74,483,450 Ordinary Shares, with each share carrying
one right to vote. The above figure of 74,483,450 should be used by
shareholders as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in Utilitywise under the FSA's
Disclosure and Transparency Rules.
For further information please contact:
Utilitywise plc 0870 626 0559
Geoff Thompson (CEO)
Andrew Richardson (CFO)
finnCap (NOMAD and broker) 020 7220 0500
Matt Goode / Charlotte Stranner (Corporate Finance)
Simon Johnson (Corporate Broking)
Newgate Threadneedle 020 7653 9850
Josh Royston / John Coles / Hilary Millar
About Utilitywise
Utilitywise is a leading independent utility cost management
consultancy based in South Shields, Tyne and Wear. The Company has
established trading relationships with a number of major UK energy
suppliers and provides services to its customers designed to assist
them in achieving better value out of their energy contracts,
reduced energy consumption and lower carbon footprint.
Businesses large and small rely on Utilitywise for their energy
management needs. Clients range in size from high street shops to
multinationals with thousands of sites and cover the whole of the
UK. In total, Utilitywise has over 17,000 customers and manages an
overall energy consumption of approaching 20 terra watt hours per
annum.
Utilitywise is a UK company quoted on the AIM market of the
London Stock Exchange. For more information, please visit
www.utilitywise.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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