Result of Secondary Placing and TVR
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Fonix Mobile plc (AIM:FNX), the mobile payments and messaging company, announces that further to the announcement made on 18 April 2024 (the "ABB Announcement"), the Selling Shareholders have successfully sold a total of 6,666,667 Placing Shares at a price of 225 pence per Placing Share due to significant overdemand. The Placing Shares in aggregate represent approximately 6.7 per cent. of the Company's issued share capital.
As part of the Placing, the Company purchased 907,000 Placing Shares through their Share Buyback Programme. Following this transaction, and subsequent cancellation, the Company advises that its issued share capital is 100,000,000 Ordinary Shares, with 1,024,580 Ordinary Shares held in treasury. Consequently, the total voting rights of the Company are 98,975,420.
On completion of the Placing, the Selling Shareholders shall have the following resultant shareholdings:
Resultant holding
| Selling Shareholder | Shareholding immediately prior to the Placing | Number of Placing Shares sold | Ordinary Shares | % of Issued Share Capital |
|---|---|---|---|---|
| William Neale (Non-Executive Director) 1 | 22,827,288 | 3,907,623 | 18,919,665 | 19.12% |
| Richard Thompson 2 | 8,792,241 | 1,505,074 | 7,287,167 | 7.36% |
| Robert Weisz (Chief Executive Officer) | 7,325,356 | 1,253,970 | 6,071,386 | 6.13% |
- All shares held by William Neale are held through Ganton Limited, a company owned and controlled by William Neale.
- All shares held by Richard Thompson are held through Starnevesse Limited a company owned and controlled by Richard Thompson
The notification at the end of this announcement, set out in accordance with the requirements of the EU Market Abuse Regulation, provides further details of the transactions.
The Placing was conducted through an accelerated bookbuild by Cavendish Capital Markets Limited ("Cavendish") acting as bookrunner. Proceeds of the Placing are payable in cash on usual settlement terms and the Placing is expected to settle on or around 26 April 2024.
| a) | Name | Robert Weisz | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Chief Executive Officer | ||||
| b) | Initial notification/Amendment | Initial Notification | ||||
| a) | Name | Fonix Mobile plc | ||||
| b) | LEI | 213800GBZCWQ7HR2ZE92 | ||||
| a) | Description of the Financial instrument, type of instrument | Ordinary shares of 0.01p each ("Ordinary Shares") | ||||
| Identification code | GB00BN789668 | |||||
| b) | Nature of the transaction | Sale of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price | As in 4c) above | ||||
| e) | Date of the transaction | 19/04/2024 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
| 1. | Details of the person discharging managerial responsibilities / person closely associated | |||||
| a) | Name | William Neale | ||||
| 2. | Reason for the Notification | |||||
| a) | Position/status | Non-Executive Director | ||||
| b) | Initial notification/Amendment | Initial Notification | ||||
| a) | Name | Fonix Mobile plc | ||||
| b) | LEI | 213800GBZCWQ7HR2ZE92 | ||||
| a) | Description of the Financial instrument, type of instrument | Ordinary shares of 0.01p each ("Ordinary Shares") | ||||
| Identification code | GB00BN789668 | |||||
| b) | Nature of the transaction | Sale of Ordinary Shares | ||||
| c) | Price(s) and volume(s) |
| ||||
| d) | Aggregated information: · Aggregated volume · Price | As in 4c) above | ||||
| e) | Date of the transaction | 19/04/2024 | ||||
| f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) |
Information to Distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended ("MiFID II"); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the "MiFID II Product Governance Requirements"), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any "manufacturer" (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the Placing Shares have been subject to a product approval process, which has determined that the Placing Shares are: (i) compatible with an end target market of (a) retail investors, (b) investors who meet the criteria of professional clients and (c) eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the "Target Market Assessment"). Notwithstanding the Target Market Assessment, distributors should note that: the price of the Placing Shares may decline and investors could lose all or part of their investment; the Placing Shares offer no guaranteed income and no capital protection; and an investment in the Placing Shares is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Placing. Furthermore, it is noted that, notwithstanding the Target Market Assessment, Cavendish will only procure investors who meet the criteria of professional clients and eligible counterparties.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.