TIDMNSCI
RNS Number : 3697D
NetScientific PLC
28 June 2021
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE
RESTRICTED AND ARE NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR ISSUE OR A SOLICITATION TO BUY,
SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN ANY
JURISDICTION IN WHICH ANY SUCH OFFER OR SOLICITATION WOULD BE
UNLAWFUL, INCLUDING THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR
THE REPUBLIC OF SOUTH AFRICA. NEITHER THIS ANNOUNCEMENT NOR
ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF, OR BE RELIED
UPON IN CONNECTION WITH, ANY SUCH OFFER, SOLICITATION OR COMMITMENT
WHATSOEVER IN ANY OF THOSE JURISDICTIONS.
NetScientific plc
("NetScientific", the "Group" or the "Company")
Result of General Meeting, Total Voting Rights and PDMR
Dealings
London, UK - 28 June 2021 - NetScientific plc (AIM: NSCI), the
international life sciences and sustainability technology
investment and commercialisation Group, announces that at its
General Meeting held earlier today in connection with the Placing
of GBP7.7m, all resolutions were duly passed.
The Placing remains conditional on the admission of the
5,958,123 New Ordinary Shares to trading on AIM having become
effective at 8.00 a.m. on 29 June 2021.
This placement culminates a dynamic and successful period,
reinforcing the base for continued progress and further growth,
including:
-- Finalisation of a successful turnaround and transformation of the business
-- Performance and development extended across the Group, and
building on the trans-Atlantic relationships
-- Portfolio companies have reported significant commercial
developments which will drive strong future growth even as we
emerge from the impact of the COVID-19 pandemic
-- Fair value has further increased and is up c. 40% on the year
end now representing a premium to our market value of 38%
-- Capital Under Advisory enhanced growth, up c.20% on the year
end through several transactions, and demonstrating the capital
light model in action
John Clarkson, Chairman, stated: " On behalf of the Board I want
to express our gratitude to current and new shareholders for their
overwhelming vote of support. This demonstrates confidence in the
strategy to deliver further progress and shareholder value. The
Company is now well positioned for future success."
Dr Ilian Iliev, Chief Executive Officer, added: "We are driving
ahead with the execution of the business plans and analyst coverage
of the Company has now restarted. This combines the use of
'capital-light' investment, pro-active management, value added
support to our portfolio, trans-Atlantic synergies, and new
opportunities to realise returns."
Following Admission, the Company's issued and fully paid share
capital will consist of 20,975,311 Ordinary Shares, all of which
carry one voting right per share. The Company does not hold any
Ordinary Shares in treasury. The figure of 20,975,311 Ordinary
Shares may be used by shareholders as the denominator for the
calculation by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company under the Disclosure Guidance and
Transparency Rules of the Financial Conduct Authority.
Capitalised terms used but not defined in this announcement have
the meanings given to them in the Company's announcement released
on the 10 June in respect of the Placing unless the context
provides otherwise.
Resolutions 1 and 3 were passed as Ordinary Resolutions and
Resolutions 2 and 4 were passed as Special Resolutions. Voting on
all resolutions at the General Meeting was conducted by poll and
the results are as follows:
Resolution For % Against % Vote Total Vote Total as % of Issued Withheld*
Share Capital
1. To authorise the
Directors to allot shares
in the Company in respect
of the Placing Shares 8,783,239 99.9% 8,292 0.1% 8,791,531 58.5% 6,000
---------- ------ -------- ----- ----------- --------------------------- ----------
2. To disapply statutory
pre-emption rights in
respect of the Placing 8,779,628 99.9% 11,903 0.1% 8,791,531 58.5% 6,000
---------- ------ -------- ----- ----------- --------------------------- ----------
3. To authorise the
Directors to allot shares
in the Company generally 8,783,239 99.9% 8,292 0.1% 8,791,531 58.5% 6,000
---------- ------ -------- ----- ----------- --------------------------- ----------
4. To disapply statutory
pre-emption rights
generally 8,779,628 99.9% 11,903 0.1% 8,791,531 58.5% 6,000
---------- ------ -------- ----- ----------- --------------------------- ----------
* A vote withheld is not a vote in law and is not counted in the
calculation of the proportion of votes "For" or "Against" a
resolution.
Director/PDMR Shareholding
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Ilian Iliev
--------------------- ----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name NetScientific plc
--------------------- ----------------------------------------------
b) LEI 213800N5WD46G1Y7I458
--------------------- ----------------------------------------------
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 Ordinary Shares of GBP0.05 each
of the financial GB00BN4R5Q82
instrument,
type of instrument
Identification
code
--------------------- ----------------------------------------------
b) Nature of Issue of ordinary shares as part of placement
the transaction
--------------------- ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 130.0 pence 23,077 Ordinary Shares
-----------------------
--------------------- ----------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
--------------------- ----------------------------------------------
e) Date of the 29 June 2021
transaction
--------------------- ----------------------------------------------
f) Place of the UK AIM
transaction
--------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name John Clarkson
--------------------- ----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Executive Chairman
--------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name NetScientific plc
--------------------- ----------------------------------------------
b) LEI 213800N5WD46G1Y7I458
--------------------- ----------------------------------------------
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 Ordinary Shares of GBP0.05 each
of the financial GB00BN4R5Q82
instrument,
type of instrument
Identification
code
--------------------- ----------------------------------------------
b) Nature of Issue of ordinary shares as part of placement
the transaction
--------------------- ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 130.0 pence 25,000 Ordinary Shares
-----------------------
--------------------- ----------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
--------------------- ----------------------------------------------
e) Date of the 29 June 2021
transaction
--------------------- ----------------------------------------------
f) Place of the UK AIM
transaction
--------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Clive Sparrow
--------------------- ----------------------------------------------
2 Reason for the notification
---------------------------------------------------------------------
a) Position/status Non- Executive Director
--------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
--------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------
a) Name NetScientific plc
--------------------- ----------------------------------------------
b) LEI 213800N5WD46G1Y7I458
--------------------- ----------------------------------------------
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 Ordinary Shares of GBP0.05 each
of the financial GB00BN4R5Q82
instrument,
type of instrument
Identification
code
--------------------- ----------------------------------------------
b) Nature of Issue of ordinary shares as part of placement
the transaction
--------------------- ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) 130.0 pence 7,692 Ordinary Shares
----------------------
--------------------- ----------------------------------------------
d) Aggregated N/A
information
- Aggregated
volume
- Price
--------------------- ----------------------------------------------
e) Date of the 29 June 2021
transaction
--------------------- ----------------------------------------------
f) Place of the UK AIM
transaction
--------------------- ----------------------------------------------
This announcement includes inside information as defined in
Article 7 of the UK version of Market Abuse Regulation No. 596/2014
as it forms part of UK law as retained EU law as defined in, and by
virtue of, the European Union (Withdrawal) Act 2018, as amended,
and is disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
For more information, please contact:
NetScientific Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser
and Broker)
Chris Fielding / Darshan Patel +44 (0)20 7220 1666
Walbrook PR
Nick Rome/ Paul McManus/ 07748 325 236, 07980 541 893
Nicholas Johnson or 07884 664 686
About NetScientific
NetScientific plc (AIM: NSCI) is a holding company, that invests
in, develops, commercialises and realises shareholder value in life
sciences/healthcare, sustainability and technology companies, which
offer significant growth potential predominately in the UK and USA,
as well as globally.
With the acquisition of EMV Capital in August 2020, the Group
doubled its portfolio from 8 to 17 companies, either through direct
subsidiary, balance sheet investment or capital under advisory,
varying from start-up private companies to publicly listed
equities.
NetScientific delivers shareholder returns through a proactive
and hands-on management approach to their portfolio companies;
identifying, investing in, and helping to build game-changing
companies. The Group targets value inflection points and the
release of value through partial or full exits from trade sales,
public listings, or equity sales. The Company has a strong
transatlantic and growing international presence, providing
attractive expansion prospects.
NSCI can deploy a capital-light investment structure; utilising
the power of the PLC Brand, and the NetScientific balance sheet to
anchor future investments and achieve a multiplier effect by
attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and
was admitted to trading on AIM, a market operated by the London
Stock Exchange, in 2013 (website: www.netscientific.net ).
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END
MSCSEMFLAEFSEFM
(END) Dow Jones Newswires
June 28, 2021 10:18 ET (14:18 GMT)
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