Schedule One - Light Science Tech. Holdings PLC | RNS | Ticker

Schedule One - Light Science Tech. Holdings PLC

RNS Announcement

RNS Number : 2092M

AIM

20 September 2021

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Light Science Technologies Holdings plc (the "Company" and together with its subsidiaries, the "Group")

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):

Registered office address:

1 Lowman Way, Hilton, Derby, DE65 5LJ, United Kingdom

Principal trading premises:

Greengate Industrial Estate, Greenside Way, Middleton, Manchester, M24 1SW, United Kingdom

COUNTRY OF INCORPORATION:

England & Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

https://lightsciencetechnologiesholdings.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

The Company was incorporated in England and Wales on 13 January 2020 and is the holding company of the Group's contract electronics manufacturing ("CEM") division, UK Circuits and Electronics Solutions Limited ("UK Circuits"), and its controlled environment agriculture ("CEA") division, Light Science Technologies Ltd ("Light Science Technologies").

UK Circuits was founded in 1997 and is a contract electronics manufacturer with strong revenue and cash generation. The Group's manufacturing facilities in Manchester, England enable the Group to design, manufacture and test high-quality CEM products used in a broad range of sectors including, audio, automotive, electronics, gas detection, lighting, pest control, and more recently moving into the CEA market. UK Circuits designs, procures and manufactures high-quality CEM products, specialising in PCBs, for over 70 recurring customers.

Light Science Technologies was founded in September 2019 and facilitates the Company's CEA operations which, in light of Light Science Technologies' current live project quotes, are highly prospective. The Group's state-of-the-art laboratory facilities in Derby, England, enable the Group to design, test and provide innovative CEA products and services. Light Science Technologies offers integrated, cost-saving and sustainable CEA solutions to crop growers, with a focus on the indoor, vertical and medicinal farming markets, which is expected to be the major growth area for the Group going forwards in light of the market landscape and in view of competing offerings currently in the marketplace.

Light Science Technologies' all-in-one CEA solution includes analysing customers' crop growing requirements to provide bespoke, low-energy products, which subsequently monitor the nine cardinals of plant life (namely air speed, carbon dioxide levels, humidity, light, oxygen, plant disease, soil, temperature and water pH levels) in order to maintain optimal growing conditions, maximise crop yields and minimise resource usage.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Number of new ordinary shares of £0.01 each in the capital of the Company ("Ordinary Shares") to be admitted: TBC

No Ordinary Shares to be held in treasury

No restrictions on the transfer of Ordinary Shares

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on Admission: TBC

Anticipated market capitalisation: TBC

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

TBC

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

None

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Myles Antony Halley, Proposed Non-Executive Chairman

Simon Lincoln Deacon, Chief Executive Officer

James (Jim) Edward Snooks, Proposed Chief Financial Officer

Andrew Mark Hempsall, Proposed Chief Operating Officer

Lisa Jane Clement, Proposed Independent Non-Executive Director

Rory Thomas James-Duff, Proposed Independent Non-Executive Director

Robert (Rob) Graham Naylor, Non-Executive Director

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

	Shareholding
Shareholder	Pre-Admission	Post-Admission
Simon Lincoln Deacon	91.5%	TBC
Gordon James Hall	8.5%	TBC

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 30 November

(ii) 31 May 2021 (audited interim results)

(iii) 31 May 2022 (audited annual results), 31 August 2022 (unaudited interim results), 31 May 2023 (audited annual results)

EXPECTED ADMISSION DATE:

Early October 2021

NAME AND ADDRESS OF NOMINATED ADVISER:

Strand Hanson Limited

26 Mount Row

London W1K 3SQ

United Kingdom

NAME AND ADDRESS OF BROKER:

Turner Pope Investments (TPI) Ltd

8 Frederick's Place

London EC2N 1AR

United Kingdom

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

The Admission Document, which will contain full details about the applicant and the admission of its securities, will be available on the Company's website https://lightsciencetechnologiesholdings.com/ from the date of the Company's admission to trading on AIM.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The Quoted Companies Alliance Corporate Governance Code

DATE OF NOTIFICATION:

20 September 2021

NEW/ UPDATE:

New

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RNS metadata

Title: Schedule One - Light Science Tech. Holdings PLC
Time: 08:00:06
Date: 20 Sept 2021
Category: Capital structure
ID: 2092M