Amino Technologies plc (LON:AMO), a software-led global media technology company that delivers modern TV experiences, has announced that further to the announcement made earlier today, the Company has raised total gross proceeds of approximately £9.4 million through the Placing of 6,714,286 new Ordinary Shares at a price of 140 pence per Placing Share. The Placing Shares represent approximately 8.6% of the Company’s current issued share capital.
Related Party Transactions
Kestrel Partners LLP has agreed to subscribe for 1,469,757 Placing Shares. Kestrel is deemed to be a related party company for the purposes of the AIM Rules by virtue of its status as a substantial shareholder holding 10% or more of the existing Ordinary Shares.
Premier Miton Group plc has agreed to subscribe for 1,178,571 Placing Shares. Premier Miton is deemed to be a related party company for the purposes of the AIM Rules by virtue of its status as a substantial shareholder holding 10% or more of the existing Ordinary Shares.
The Board considers, having consulted with the Company’s nominated adviser, finnCap, that the terms upon which Kestrel and Premier Miton are participating in the Placing are fair and reasonable insofar as the Company’s shareholders are concerned.
Total Voting Rights
Application has been made for the admission of the Placing Shares to trading on the AIM market of London Stock Exchange plc. It is expected that Admission will take place at or around 8.00 a.m. (London time) on 17 May 2021. The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the Company’s existing issued Ordinary Shares.
On Admission, the Company will have 84,783,857 Ordinary Shares in issue. There are 1,778,725 Ordinary Shares held in treasury. Therefore the total number of voting rights in the Company is 83,005,132. This number may be used by shareholders as the denominator for the calculation by which they may 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.
Amino Technologies plc is a software-led, global Media Technology company. It delivers modern TV experiences, the way viewers want them. They do this by creating the solutions that Pay-TV operators, broadcasters and content owners need to make it easy for people to connect to the TV and video they love.
Its end to end solutions, offer the best of both worlds: video on demand and live TV. By placing all TV and video streaming content in one place, Pay-TV operators, broadcasters and media owners can stay ahead of evolving viewer demand by providing smarter, more cost-effective ways of delivering modern TV and video experiences to consumers.
The company has two operating companies: 24i, which focusses on streaming video experiences and Amino, which connects Pay-TV to streaming services. The two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it. These solutions deliver modern TV and video experiences every day to millions of viewers globally, via a growing global customer base of over 500 service providers.