RNS Number : 5367E
DJI Holdings PLC
19 July 2016
 

19 July 2016 

DJI Holdings plc

("DJI" or the "Company")

 

Placing to raise £11.5 million

 

DJI Holdings plc (AIM: DJI, "the Group", "DJI"), a provider of technology for the promotion and transaction of online bookings, mobile payments and lottery sales in China, announces a conditional placing of 12,100,000 new ordinary shares of nominal value 10 pence each ("Ordinary Shares") in the share capital of the Company (the "Placing Shares") at a price of 95 pence each, raising gross proceeds of approximately £11.5 million (the "Placing").

The Placing has been completed through the Company's broker, Mirabaud Securities LLP ("Mirabaud"), with a number of major institutional investors, following on from the £29.0 million conditional placing announced by the Company on 1 July 2016.

Owing to institutional demand, the Board has decided to accept this additional funding of approximately £11.5 million from blue chip long term investors. DJI will not only benefit from a significant proportion of its shareholder base now being held by leading funds, but this capital will enable the Group to accelerate further its repositioning as an internet technology provider with a secure, versatile platform and rapidly expanding databases.

The Directors are now pleased to announce that the initial funds received from the placing announced on 1 July 2016 have allowed discussions with additional partners to progress significantly and the Board is confident of announcing, in the coming weeks, additional contracts with significant potential to enhance shareholder value.

The Board looks forward to providing further updates in the coming weeks.

 

Details of the Placing

The issue of the 16,422,000 new Ordinary Shares pursuant to the first tranche of the placing announced on 1 July 2016 utilised all of the Directors' existing authority to allot shares for cash on a non pre-emptive basis. Accordingly, the issue of the Placing Shares (and the issue of the 14,104,000 new Ordinary Shares pursuant to the second tranche of the placing announced on 1 July 2016 (the "Second Tranche Shares")) is conditional upon, inter alia, the passing of the resolutions at the general meeting of the Company to be held on 28 July 2016 (the "Resolutions").

Details of the Resolutions can be found in the circular posted to Shareholders in connection with the placing announced on 1 July 2016, which is also available on the Company's website.

The Placing will be made on the same terms and conditions as were attached to the announcement on 1 July 2016, save that the Placing will be conducted in one tranche and that the Placing Shares will be admitted to trading on 1 August 2016.

Admission and Total Voting Rights

Assuming the Resolutions are passed, following the admission to trading of the Second Tranche Shares and the Placing Shares, which are expected to occur on 29 July 2016 and 1 August 2016, respectively, DJI will have 206,941,391 Ordinary Shares in issue.  No shares are held in treasury. 

The total number of voting rights that may be used by Shareholders as the denominator for calculations by which they will 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 Financial Conduct Authority's Disclosure and Transparency Rules will therefore be 206,941,391. 

Darren Mercer, Chief Executive Officer of DJI Holdings plc, said:


"We are delighted to now have a number of the world's leading institutional investors as shareholders of the Group. Our discussions with potential partners are now well ahead of where we had envisaged only a few weeks ago. These very significant opportunities will further demonstrate to the market that DJI is now a substantial internet technology portal.  We look forward to making further announcements in due course."

 

For further information please contact:

 

DJI Holdings plc 

+44 (0) 1565 872 990

Darren Mercer, Group Chief Executive




IHA Consulting Ltd (Financial PR)

+44 (0) 20 3393 1185

Stephen Benzikie




Strand Hanson Limited (Nominated & Financial Adviser)

+44 (0) 20 7409 3494

 

Andrew Emmott / Ritchie Balmer

 

Mirabaud Securities LLP (Broker to DJI)

 

 

+44 (0) 20 7878 3362

Peter Krens


 

 

Notes to Editors

 

DJI's strategy is to use its secure, robust and versatile marketing technology platform to capitalise on the migration online of China's consumer and public services sectors.

The Group has a partnership with Xinhuatong Network Co., Ltd. and provincial offices of Xinhua News Agency, the state news organisation in China, to supply game technology platform and facilitate mobile payments through the Xinhua News Mobile App for public utility bills including electricity, gas, water, mobile phone top-ups and traffic fines in an initial nine of 12 targeted provinces in China.

DJI also has a joint venture with the Heilongjiang Provincial Sports Bureau (HSB) to provide support services to all of HSB's commercial activities. These include football and winter sports in the province, notably China's largest ski resort, Yabuli.

The HSB joint venture contains, for the first time in a Chinese province, a Business-to-Business (B2B) online booking system for sports, based on DJI's technology. The JV agreed terms with three of China's largest online portals to sell and promote this B2B system from 1 November 2015. 

DJI will continue to work with Chinese government agencies at national and provincial level, e-commerce channel partners and payment providers to develop opportunities to support a wide range of services and transactions online, including mobile and digital media.

 

ENDS

 

 


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