Light Science Technologies Holdings plc

("LSTH" or the "Company")

Result of Fundraising and WRAP Retail Offer

Light Science Technologies Holdings plc (AIM: LST) announces it has raised aggregate gross proceeds of £1,588,555 through the issue and proposed issue of 158,855,500 new Ordinary Shares at a price of 1 penny per share.

The Placing raised £1,077,500 through the issue of 107,750,000 Placing Shares, the Subscription raised £355,000 through the issue of 35,500,000 Subscription Shares (following the scale back¹), and the WRAP Retail Offer raised £156,055 through the issue of 15,605,500 WRAP Retail Offer Shares.

As detailed in the Company's announcements of 4 and 5 April 2023 the issue of the Conditional Placing Shares, Subscription Shares and WRAP Retail Offer Shares are subject to the approval of the Company's shareholders at a General Meeting, which has been convened for 21 April 2023 and formal notice of which was sent to shareholders on 5 April 2023.

Admission and total voting rights

Application has been made for the 78,250,000 Conditional Placing Shares, 35,500,000 Subscription Shares and 15,605,500 WRAP Retail Offer Shares to be admitted to trading on AIM which is expected to take effect and dealings to commence at 8.00 a.m. on or around 24 April 2023 ("Admission").

Following Admission, the Company will have 333,005,500 Ordinary Shares in issue. Since the Company currently holds no shares in treasury, the total number of voting rights in the Company will therefore be 333,005,500. These figures may therefore 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

Notes:

1. As detailed in the Company's announcement of 4 April 2023, at the Company's discretion, up to £80,000 of applications in the WRAP Retail Offer could be used to scale back the investment by Intuitive Investments Group plc ("IIG") of £230,000 in the Subscription.  The Company has agreed to exercise such scale back, thereby reducing IIG's investment in the Subscription to £150,000.

Unless otherwise defined, capitalised terms used in this announcement have the same meanings as ascribed to them in the Company's announcement of 4 April 2023 under RNS number 2433V and 5 April 2023 under RNS 5303V.

For further information, please contact:

This Announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended).

About Light Science Technologies Holdings plc (www.lightsciencetechnologiesholdings.com)

Light Science Technologies Holdings plc is the holding company of the Group's controlled environment agriculture ("CEA") division, Light Science Technologies Ltd ("Light Science Technologies"), and its contract electronics manufacturing ("CEM") division, UK Circuits and Electronics Solutions Limited ("UK Circuits").

Controlled Environment Agriculture

Light Science Technologies was founded in 2019 and is the Company's grow lights and sensor technology business, providing bespoke recipes and technologies tailored to customers' needs, with key targets including indoor, vertical, glasshouses, polytunnels and medicinal farming markets. The all-in-one CEA solution will include analysing customers' crop growing requirements to provide bespoke, low-energy and sustainable equipment.

Market drivers include: food and water shortages in many parts of the world, growing global population, UK and other government policy encouraging sustainable and efficient growth methods, increased scrutiny of the effect of food production on climate change and the continuing transition away from processed foods. 

sensorGROW

sensorGROW was launched in June 2022 and its technology will enable farmers to monitor the following key air zone growing factors in real-time: carbon dioxide levels, humidity, light, oxygen - and in the future: air speed, plant disease, soil, temperature and water pH levels. By monitoring these key growing factors, farmers can save money through better management of resources: water, nutrients, fertilisers and energy - while increasing yields and producing healthier crops.

nurturGROW

nurturGROW is a sustainable grow lighting product range, offering an innovative, high-performance and cost-effective solution for indoor farming, covering greenhouses, vertical farming, polytunnels and medicinal plants.

Created with four core component parts, the nurturGROW range is made of high quality, durable materials to give growers the ideal balance between strength and optimal performance, minimising the amount of materials needed to drastically cut down on waste and reduce carbon footprint.

Contract Electronics Manufacturing

UK Circuits is the Company's CEM focussed division, profit making with strong revenues. The Group designs, procures, and manufactures high-quality CEM products, specialising in Printed Circuit Boards, which are used in a range of sectors including audio, automotive, electronics, gas detection, lighting, pest control, telecommunications and, more recently, the CEA market.