FireAngel Safety Technology Group plc

(‘FireAngel’, the ‘Company’ or the ‘Group’)

Result of Open Offer and Conditional Placing

Directors’ Dealings

and

Total Voting Rights

Result of Open Offer and Conditional Placing

Further to its announcement of 30 April 2021 (the ‘Announcement’), FireAngel Safety Technology Group plc (AIM: FA.), a leading developer and supplier of home safety products, announces the result of the Open Offer to Qualifying Shareholders.

Valid acceptances have been received from Qualifying Shareholders in respect of 23,656,538 Open Offer Shares. This represents approximately 61.7 per cent. of the Open Offer Shares available under the Open Offer which, at the Issue Price, has raised approximately £4.26 million.

As detailed in the Announcement, under the terms of the Placing Agreement the number of Conditional Placing Shares will be scaled back to 14,694,627 New Ordinary Shares, which, at the Issue Price, has raised approximately £2.65 million for the Company.

A further 16,093,279 Firm Placing Shares are to be issued, which, at the Issue Price, has raised approximately £2.9 million for the Company.

Subject to the admission to trading on AIM of the 54,444,444 New Ordinary Shares (‘Admission’), the Company will have raised a total of approximately £9.8 million (before expenses) as a result of the Fundraising.

Admission and Total Voting Rights

It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence at 8.00 a.m. on 20 May 2021.  The New Ordinary Shares will rank pari passu with the Existing Ordinary Shares.  Following Admission, the Company’s issued share capital will comprise 181,003,289 Ordinary Shares carrying voting rights.  This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interests in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

Directors’ Dealings

Further to the Announcement, due to the clawback of Conditional Placing Shares under the Open Offer, each of Zoe Fox (Chief Financial Officer), Jon Kempster (Non-Executive Director), Glenn Collinson (Non-Executive Director) and Graham Whitworth (Non-Executive Director) and his wife will be issued with 31,417, 31,417, 62,832 and 94,239 Placing Shares respectively in respect of their subscriptions in the Placing.

In addition, John Conoley (Executive Chairman) and his wife subscribed in full for their Open Offer Entitlements and for Excess Open Offer Entitlements being, in aggregate,  181,211 Open Offer Shares.

As a result, the Directors’ resulting shareholdings immediately following Admission are detailed below:

*and his wife

Capitalised terms in this announcement have the same meaning as given in the Announcement.

For further information, please contact:

Notes to Editors

About FireAngel Safety Technology Group plc

FireAngel’s mission is to protect and save lives by making innovative, leading-edge home safety products which are simple and accessible. FireAngel is one of the market leaders in the European home safety products market. 

FireAngel’s principal products are connected smoke alarms, CO alarms, heat alarms and accessories.  The Company has an extensive portfolio of patented intellectual property in Europe, the US and other selected territories.  Products are sold under FireAngel’s leading brands of FireAngel, FireAngel Pro, FireAngel Specification and AngelEye.

For further product information, please visit: www.fireangeltech.com