NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR NEW ZEALAND
THIS ANNOUNCEMENT IS NOT A PROSPECTUS OR ADMISSION DOCUMENT AND DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES.
22 June 2011
Ubisense
First day of dealings
Ubisense Group plc (AIM: UBI, "Ubisense" "the Group" or "the Company"), the Cambridge headquartered real-time location solutions (RTLS) company, announces the commencement of dealings in its Ordinary Shares on AIM today under the ticker code UBI and the ISIN number of GB00B3NCXX73.
Ubisense, which is headquartered in Cambridge, is the market-leading location solutions company, delivering mission-critical enterprise asset tracking and geospatial systems that bring visibility and control to previously intractable business processes. The Group operates in two divisions, RTLS and Geospatial.
Ubisense's RTLS division is a world leader in real-time location solutions enabling companies to track assets (such as tools, people and vehicles) within factories and other indoor environments in real time in three dimensions, helping its clients, which are primarily in the automotive, aerospace and transportation industries, to bring visibility and control to business processes. The Geospatial division uses Ubisense's expertise in location solutions to help large infrastructure companies, such as utilities and telecom companies, to map, plan, manage and optimise their networks across large geographic areas.
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Placing price per ordinary share |
180p |
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Number of new Ordinary shares placed |
4,817,867 |
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Gross proceeds of the Placing for the Group |
£8.7 million |
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Gross proceeds for the Group |
£5.0 million |
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Gross proceeds for selling shareholders |
£3.7 million |
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Percentage of enlarged share capital in public hands on admission |
76.6% |
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Market capitalisation at the placing price |
£38.6 million |
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Number of Ordinary shares in issue following admission |
21,421,758 |
Canaccord Genuity Limited is acting as the Company's Nominated Adviser and Broker and acted as sole book-runner on the Placing.
Richard Green, Chief Executive, said:
"Admission to AIM is an important landmark in our development. The funds raised will enable us to maintain our track record of international growth and provide us with a strong platform to support the rapid growth of our RTLS division and to develop our Geospatial business, both organically and by acquisition."
Enquiries:
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Ubisense www.ubisense.net |
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Richard Green, Chief Executive Officer |
+44 (0) 1223 535170 |
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Canaccord Genuity Nominated Advisor and Broker Simon Bridges/Henry Fitzgerald-O'Connor
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+44 (0) 20 7050 6500
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College Hill |
+44 (0) 20 7457 2020 |
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Adrian Duffield / Jon Davies |
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This announcement is issued by Ubisense Group plc (the "Company") in connection with the proposed placing of ordinary shares in the capital of the Company ("Ordinary Shares") and the proposed application for admission of the whole of the ordinary share capital of the Company, issued and to be issued, to trading on the AIM market of London Stock Exchange plc. The information in this announcement, which is for background purposes only, is preliminary in nature and is subject to change. No representation or warranty express or implied is made as to the fairness, accuracy or completeness of the information contained herein and no reliance should be placed upon it. Application for shares in the Company may be made only on the basis of the admission document relating to the Company which is expected to be published in June 2011 and the risk factors set out in that admission document. A copy of the admission document will be available on the Company's website and from the offices of Mills & Reeve LLP, 130 Fenchurch Street, London EC3M 5DJ following admission.
This announcement does not constitute an offer to sell or issue, or the solicitation of an offer to subscribe for or buy, Ordinary Shares to any person in any jurisdiction to whom it is unlawful to make such offer or solicitation. In particular, this announcement is not for distribution in or into the United States of America, Canada, Japan, the Republic of Ireland, the Republic of South Africa, Australia or New Zealand. The issue of the Ordinary Shares has not been, and will not be, registered under the applicable securities laws of the United States of America, Canada, Japan, the Republic of Ireland, the Republic of South Africa, Australia or New Zealand and the Ordinary Shares may not be offered or sold directly or indirectly within the United States of America, Canada, Japan, the Republic of Ireland, the Republic of South Africa, Australia or New Zealand or to, or for the account or benefit of, any persons within the United States of America, Canada, Japan, the Republic of Ireland, the Republic of South Africa, Australia or New Zealand.
This announcement may contain forward-looking statements. These statements relate to the Company's future prospects, developments and business strategies. Forward looking statements are identified by their use of terms and phrases such as "belief", "could", "would", "envisage", "estimate", "intend", "may", "plan", "will", "should" or the negative of those, variations or comparable expressions, including references to assumptions. Any such forward looking statements in this announcement are based on current expectations and intentions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these statements.
BACKGROUND INFORMATION
The Business
· Ubisense is a world leader in providing end to end (hardware, software and services) real-time location solutions to companies allowing them to track people and assets with a high degree of accuracy
· The Group operates in two divisions: RTLS and Geospatial
· The RTLS division uses Ubisense's proprietary technology to target high value manufacturing businesses which are used to track assets, such as tools, people and vehicles, in factories and other indoor environments with an accuracy that satellite based systems cannot currently achieve
· Ubisense's ultra-wideband ("UWB") based RTLS is currently one of the few systems that delivers both reliable accuracy and the ability to track resources in three dimensions in real-time
· The Geospatial division uses Ubisense's expertise in location solutions to deliver applications, software and other solutions primarily in the utilities and telecom sectors
· The Geospatial division focuses on the detailed mapping of network assets and provides, on behalf of its customers, network management planning and design, and has particular expertise in GE Smallworld software and solutions.
Key Strengths
· The Group has a secure platform on which to develop its business and has progressed to date by leveraging the profitable, cash generative Geospatial business whilst developing its RTLS technologies
· Ubisense has large manufacturing and industrial companies in its existing customer base. The Directors believe considerable opportunities exist for further revenue generation within its current customer base
· Ubisense's RTLS product is proven in industrial environments and Ubisense currently has numerous blue chip customers. Ubisense has received a number of awards in recent times
· The Board has experience in growing early stage technology businesses into successful and profitable companies. Several members of the Board have previously founded, grown and then subsequently sold technology businesses
· The Directors believe the Group's RTLS product is currently the most accurate and reliable solution available to support high value manufacturing and industrial processes indoors
· Ubisense has assembled a considerable set of proprietary intellectual property relating to its RTLS product.
Business Strategy
Ubisense's business strategy is to build upon its existing customer relationships and secure new customer relationships whilst expanding and diversifying its RTLS and Geospatial offerings.
RTLS
· The Directors believe there is a significant opportunity to increase the penetration of the Group's RTLS offering within the automotive sector by leveraging its existing customers as well as targeting new manufacturers seeking cost savings and efficiency improvements
· The opportunity also exists to target new customers, including, Daimler, GM, Hyundai Kia and Audi through the strategic partnership that the Group has developed with Atlas Copco
· Beyond the automotive industry, Ubisense is seeking to expand on its existing relationship with Airbus and its ultimate parent company EADS Group. Specifically, Ubisense is currently in discussions with EADS Group regarding extending the RTLS solution into further sites as well as further work for Eurocopter in asset management
· Ubisense's RTLS solutions have the potential to be used extensively in a number of different areas for example, in agriculture, military training, logistics and health and safety
Geospatial
· The Geospatial division remains an integral part of the Group's business and the Group will seek to grow this business over the medium term
· The Geospatial division will aim to establish a leadership position in the geospatial industry and look to continue to grow revenues through accretive investment in new geographic territories and complementary intellectual property