29 November 2022
Windar Photonics plc
("Windar" or the "Company")
Director Dealing
Windar Photonics plc (AIM: WPHO), the technology group that has developed a cost efficient and innovative LiDAR wind sensor for use on electricity generating wind turbines, is pleased to confirm that, further to the announcement of the placing by the Company to raise approximately £2 million (the "Placing") at a price of 15 pence per Placing Share (the "Issue Price"), the Directors have subscribed for a total of 1,480,000 new Ordinary Shares in the Company (the "Subscription Shares") pursuant to the Placing, as detailed below (the "Directors' Participation").
Jørgen Korsgaard Jensen, CEO, has subscribed for 666,667 Subscription Shares through the conversion of £100,000.05 loaned by him to the Company at the Issue Price.
Johan Blach Petersen, Chairman, has subscribed for 413,333 Subscription Shares through the conversion of accrued but unpaid fees owed to him by the Company in the sum of £61,999.95 at the Issue Price.
Paul Hodges, Non-Executive Director, has subscribed for 400,000 Subscription Shares for cash at the Issue Price.
The subsequent shareholdings of each of the Directors following these transactions are as follows:
| Director | Prior Shareholding | New Ordinary Shares | Subsequent Shareholding | % of Enlarged Share Capital of the Company |
| | | | | |
| Jørgen Korsgaard Jensen | 4,983,197 | 666,667 | 5,649,864 | 8.28% |
| Johan Blach Petersen | 1,969,508 | 413,333 | 2,382,841 | 3.49% |
| Paul Hodges | 256,818 | 400,000 | 656,818 | 0.96% |
The Subscription Shares will be issued credited and full paid and will rank pari passu in all respect with the Company's existing Ordinary Shares. Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and that trading will commence at or around 8.00 a.m. on 1 December 2022. The total issued share capital of the Company, as increased by the Subscription Shares, immediately following Admission will be 68,236,444 Ordinary Shares.
Related Party Opinion
The Director's Participation is deemed to be a related party transaction for the purposes of the AIM Rules for Companies. On the basis that all the Directors of the Company are participating in the Placing, the Company's nominated adviser, Cenkos Securities plc, has considered the terms of the Directors' Participation and has deemed that the terms of the subscription are fair and reasonable insofar as the Shareholders are concerned.
For further information, please contact:
| Windar Photonics plc |
|
| Jørgen Korsgaard Jensen, CEO | Tel: +45 24234930 |
| | |
| Cenkos Securities plc (Nomad & Broker) |
|
| Neil McDonald / Pete Lynch | Tel: 0131 220 6939 |
Notes to Editors:
Windar Photonics is a technology group that develops cost-efficient and innovative Light Detection and Ranging ("LiDAR") optimisation systems for use on electricity generating wind turbines. LiDAR wind sensors in general are designed to remotely measure wind speed and direction.
http://investor.windarphotonics.com
| 1
| Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA") | |
| a) | Name | Jørgen Korsgaard Jensen |
| 2 | Reason for the notification | |
| a) | Position/status | Chief Executive Officer |
| b) | Initial notification /Amendment | Initial notification |
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Windar Photonics plc |
| b) | LEI | 2138003JZZMKJGOOCR02 |
| 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 of the financial instrument, type of instrument | Ordinary shares of 1 pence each |
| | | |
| Identification code | GB00BTFR4F17 | |
| | | |
| b) | Nature of the transaction | Subscription for New Ordinary Shares |
| c)
| Price(s) and volume(s) | 666,667 ordinary shares 15 pence per share |
| | ||
| | ||
| | ||
| d)
| Aggregated information | |
| | | |
| - Aggregated volume | N/A | |
| | | |
| - Price | | |
| | | |
| e) | Date of the transaction | 29 November 2022 |
| f) | Place of the transaction | London Stock Exchange (AIM: WPHO) |
| 1
| Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA") | |
| a) | Name | Johan Blach Petersen |
| 2 | Reason for the notification | |
| a) | Position/status | Non-Executive Director |
| b) | Initial notification /Amendment | Initial notification |
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Windar Photonics plc |
| b) | LEI | 2138003JZZMKJGOOCR02 |
| 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 of the financial instrument, type of instrument | Ordinary shares of 1 pence each |
| | | |
| Identification code | GB00BTFR4F17 | |
| | | |
| b) | Nature of the transaction | Subscription for New Ordinary Shares |
| c)
| Price(s) and volume(s) | 413,333 ordinary shares 15 pence per share |
| | ||
| | ||
| | ||
| d)
| Aggregated information | |
| | | |
| - Aggregated volume | N/A | |
| | | |
| - Price | | |
| | | |
| e) | Date of the transaction | 29 November 2022 |
| f) | Place of the transaction | London Stock Exchange (AIM: WPHO) |
| 1
| Details of the person discharging managerial responsibilities ("PDMR") / person closely associated ("PCA") | |
| a) | Name | Paul Hodges |
| 2 | Reason for the notification | |
| a) | Position/status | Non-Executive Director |
| b) | Initial notification /Amendment | Initial notification |
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Windar Photonics plc |
| b) | LEI | 2138003JZZMKJGOOCR02 |
| 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 of the financial instrument, type of instrument | Ordinary shares of 1 pence each |
| | | |
| Identification code | GB00BTFR4F17 | |
| | | |
| b) | Nature of the transaction | Subscription for New Ordinary Shares |
| c)
| Price(s) and volume(s) | 400,000 ordinary shares 15 pence per share |
| | ||
| | ||
| | ||
| d)
| Aggregated information | |
| | | |
| - Aggregated volume | N/A | |
| | | |
| - Price | | |
| | | |
| e) | Date of the transaction | 29 November 2022 |
| f) | Place of the transaction | London Stock Exchange (AIM: WPHO) |
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