Result of Retail Offer
Light Science Technologies Holdings plc has successfully concluded its Retail Offer, raising £0.6 million before expenses through the issuance of 60,000,000 Retail Offer Shares at 1 pence each, which was significantly oversubscribed. This brings the total gross proceeds raised under the current fundraising to £6.6 million. The Retail Offer is conditional on shareholder approval at the General Meeting on April 9, 2026, and admission to trading on AIM, expected around April 14, 2026. Notably, the Chief Operating Officer and Group Financial Controller participated in the Retail Offer, purchasing 2,500,000 and 200,000 shares respectively, for £25,000 and £2,000.
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Light Science Technologies Holdings plc (AIM: LST), the innovative technology and manufacturing business providing real-world solutions targeting issues including global food security and fire safety, is pleased to announce that, the Retail Offer, as announced at 7.10 am on 11 March 2026 (the "Retail Launch Announcement"), has now closed. The Retail Offer has conditionally raised in aggregate £0.6 million (before expenses) through the issuance of 60,000,000 Retail Offer Shares at a price of 1 pence per Retail Offer Share (the "Issue Price").
The Retail Offer was significantly oversubscribed and therefore allocations were made to existing Shareholders, applying principles of soft pre-emption. Given the significant demand, existing Shareholders received c.59.1 per cent. of their soft pre-emptive allowance(1), when their order matched or exceeded their soft pre-emptive allowance.
Accordingly, conditional on the passing of the Resolutions at the General Meeting, the Company has conditionally raised gross proceeds of £0.6 million pursuant to the Retail Offer, resulting in total gross proceeds of £6.6 million being raised under the Fundraising.
The Retail Offer is not part of the Placing, the results of which was announced by the Company at 9.58 am on 11 March 2026, however the Retail Offer is conditional, inter alia, upon completion of such Placing. Furthermore, the Company will require additional allotment and dis-application of pre-emption rights authorities to allot and issue the Retail Offer Shares. Accordingly, the Retail Offer is also conditional, inter alia, upon shareholders approving the Resolutions at the General Meeting to be held on 9 April 2026, and the Retail Offer Shares being admitted to trading on the AIM market operated by the London Stock Exchange. Subject to the Resolutions being passed at the General Meeting, Admission of the new Ordinary Shares pursuant to the Retail Offer is expected to take place on or around 14 April 2026.
- Soft Pre-emptive allowance calculation: Existing shares X 198.195% (Dilution from total new shares being issued) = Soft Pre-emptive allowance allocation shares
Director and PDMR Participation in the Retail Offer
The following Directors and persons discharging managerial responsibilities ("PDMR") in the Company participated in the Retail Offer as set out below:
| Director | Position | Amount | Number of Retail Offer Shares |
|---|---|---|---|
| Andrew Hempsall | Chief Operating Officer | £25,000 | 2,500,000 |
| Daryl Hollands | Group Financial Controller | £2,000 | 200,000 |
Capitalised terms used but not defined in this announcement have the meanings given to them in the Company's announcement released at 7.00 am on 11 March 2026 in respect of the Fundraising unless the context provides otherwise.
The Company's LEI is 213800V9MWRRLVQ6EY56.
UK Product Governance Requirements
EU Product Governance Requirements
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | 1. Andrew Hempsall 2. Daryl Hollands |
| 2 | Reason for the notification | |
| a) | Position/status | 1. Chief Operating Officer 2. Group Financial Controller |
| b) | Initial notification /Amendment | Initial Notification |
| a) | Name | Light Science Technology Holdings Plc |
| b) | LEI | 213800V9MWRRLVQ6EY56 |
| a) | Description of the financial instrument, type of instrument | Ordinary Shares of 1 penny each |
| Identification code | GB00BNDQJN14 | |
| b) | Nature of the transaction | Purchase of Ordinary Shares |
| c) | Price(s) and volume(s) | |
| Price(s) | Volume(s) | |
| 1. 1p | 2,500,000 | |
| 2. 1p | 200,000 | |
| d) | Aggregated information | |
| - Aggregated volume | As above | |
| - Aggregate Value | ||
| e) | Date of the transaction | 16 March 2026 |
| f) | Place of the transaction | AIM, London Stock Exchange |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.