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RNS Number : 3973C

Midatech Pharma PLC

19 October 2020

 

19 October 2020

 

Midatech Pharma PLC

("Midatech" or the "Company")

 

Headline Results of MTX110 Phase I DIPG Study

 

Phase II Dose Confirmed and Encouraging Survival Data

 

 

Midatech Pharma PLC (AIM: MTPH.L; Nasdaq: MTP), an R&D biotechnology company focused on improving the bio-delivery and biodistribution of medicines, is pleased to announce encouraging headline results from a Phase I study at the University of California, San Francisco ("UCSF") in patients with Diffuse Intrinsic Pontine Glioma ("DIPG") (the "UCSF study" NCT03566199).

 

The primary endpoint of the study was to determine the dosage regimen to be used in a proposed Phase II study of the safety and efficacy of MTX110 in patients with DIPG.  Preliminary high-level data from the UCSF study supports a dose of between 60μM and 90μM of MTX110, depending upon patient tolerance over the course of 12 infusions in Phase II.  

 

In total, seven patients were recruited into the UCSF study. Patients were newly diagnosed with DIPG and received focal external beam radiation therapy four to 14 weeks before commencement of MTX110 treatment.  Eligibility required a pontine location of the tumour with diffuse involvement of at least two thirds of the pons and no evidence of metastatic disease.  Patients were not excluded by total tumour volume. MTX110 was administered directly into the tumour via a micro-catheter using convection enhanced delivery ("CED") with gadolinium-enhanced intra-operative MRI to guide and track drug distribution to the tumour.  Patients could receive up to 12 cycles of treatment every four to eight weeks.  The dose was escalated between and within patients as tolerated initially by increasing the infusion volume at a concentration of 30μM MTX110 and then with higher drug concentrations of 60μM and 90μM as the sixth and seventh dose increments, respectively.

 

At the interim cut-off date (30 September 2020), median overall survival based on Kaplan Meier analysis was 26.06 months (CI 11.3 – 26.06 months) and overall survival at 12 months (OS12) was 71.4% (five of seven patients alive).  Three patients remain alive and continue to be monitored.  Survival was not an endpoint of the UCSF study nor was the study powered for statistical significance and therefore no conclusions as to the impact of MTX110 on overall survival rates can be drawn from these data.

 

The proposed Phase II trial is expected to evaluate overall survival at 12 months as the primary endpoint in 19 evaluable patients.  The planned design is single arm and statistically powered for comparisons with defined historical survival data.  MTX110 is expected to be delivered using an alternative CED catheter system that enables regular drug infusions directly into the tumour without a need for repeated surgery.

 

DIPG is a primary brain tumour arising in the pons (middle) of the brain stem, is diffusely infiltrating and cannot be surgically removed. Occurring mostly in children, the median survival rate in a cohort of 316 cases was 10.0 months and OS12 was 35% (Jansen et al, 2015. Neuro-Oncology 17(1):160-166). Although radiotherapy prolongs survival, the majority of patients die within one year following diagnosis. Systemic chemotherapy is ineffective, often due to an inability of agents to cross the blood-brain barrier. Approximately 1,000 (data on file) individuals are diagnosed with DIPG worldwide each year.

 

Commenting Sabine Mueller MD PhD, Principal Investigator of the UCSF study, said: "The study has determined a proposed dose range for MTX110 for Phase II and has shown that repeated delivery of MTX110 via CED is feasible and safe.  In an upcoming Phase II study efficacy in this patient population will be assessed."

 

Commenting further, Steve Damment, EVP R&D of Midatech, said: "DIPG is a devastating pediatric brain cancer with limited treatment options and very poor outcomes.  The overall survival data from this Phase I study are encouraging, although further study of MTX110 in DIPG is required to establish whether it can make a difference to these patients and their families."

 

Online Q&A Session

 

Stephen Stamp (CEO and CFO) and Steve Damment (EVP R&D) will be hosting an online Q&A session regarding this latest development at 2.00 p.m. London time / 9.00 a.m. US East Coast time on Monday 19 October 2020.  This session is open to all existing and prospective shareholders.  Those who wish to attend should register via:

https://us02web.zoom.us/webinar/register/WN_fwS5OEm8QiG5Uz7JvjWQ-A where they will be provided with access details.  Participants will have the opportunity to ask questions during the session, but questions may also be submitted in advance to : [email protected] 

 

About MTX110

MTX110 is a water-soluble form of panobinostat free base, achieved through complexation with hydroxypropyl-β-cyclodextrin (HPBCD), that enables convection-enhanced delivery (CED) at potentially chemotherapeutic doses directly to the site of the tumour. Panobinostat is a hydroxamic acid and acts as a non-selective histone deacetylase inhibitor (pan-HDAC inhibitor). The currently available oral formulation of panobinostat lactate (Farydak®) is not suitable for treatment of brain cancers owing to poor blood-brain barrier penetration and inadequate brain drug concentrations.  Based on favourable translational science data, MTX110 is being evaluated clinically as a treatment for DIPG (NCT03566199, NCT04264143) and recurrent medulloblastoma (NCT04315064), and preclinically for treatment of glioblastoma (SNO 2020 Abstract TMOD-27).  MTX110 is delivered directly into and around the patient's tumour via a catheter system (e.g. CED or fourth ventricle infusions) to bypass the blood-brain barrier. This technique exposes the tumour to very high drug concentrations while simultaneously minimising systemic drug levels and the potential for toxicity and other side effects. Panobinostat has demonstrated high potency against DIPG tumour cells in in vitro and in vivo models, and in a key study it was the most promising of 83 anticancer agents tested in 14 patient-derived DIPG cell lines (Grasso et al, 2015. Nature Medicine 21(6), 555-559). 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).

 

For more information, please contact:

 

Midatech Pharma PLC

Stephen Stamp, CEO, CFO Steve Damment, EVP R&D

Tel: +44 (0)29 20480 180

www.midatechpharma.com

Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker)

Freddy Crossley, Emma Earl (Corporate Finance)

Rupert Dearden (Corporate Broking)

Tel: +44 (0)20 7886 2500

Turner Pope Investments (TPI) Limited (Joint Broker)

Andrew Thacker (Corporate Broking) Tel: +44 (0)20 3657 0050

IFC Advisory Limited (Financial PR and UK Investor Relations)

Tim Metcalfe / Graham Herring

Tel: +44 (0)20 3934 6630

Email: [email protected]

Edison Group (US Investor Relations) Megan Paul Tel: +1 (646) 653 7034 Email: [email protected]

 

About Midatech Pharma PLC Midatech Pharma PLC (dual listed on LSE AIM: MTPH; and NASDAQ: MTP) is a drug delivery technology company focused on improving the bio-delivery and bio-distribution of medicines. The Company combines approved and development medications with its proprietary and innovative drug delivery technologies to provide compelling products that have the potential to powerfully impact the lives of patients.   The Company has developed three in-house technology platforms, each with its own unique mechanism to improve delivery of medications to sites of disease. All of the Company's technologies have successfully entered human use in the clinic, providing important validation of the potential for each platform:   · Q-Sphera™ platform: a disruptive micro-technology used for sustained release to prolong and control the release of therapeutics over an extended period of time (from weeks to months). · MidaSolve™ platform: an innovative nanotechnology used to dissolve insoluble drugs so that they can be administered in liquid form directly and locally into tumours. · MidaCore™ platform: a leading-edge nanotechnology used for targeting medications to sites of disease.   The platform nature of the technologies offers the potential to develop multiple drug assets rather than being reliant on a limited number of programmes. Midatech's technologies are supported by 36 patent families including 120 granted patents and an additional 70 patent applications. Midatech's headquarters and R&D facility is in Cardiff, UK. For more information please visit www.midatechpharma.com

 

Forward-Looking Statements

 

Certain statements in this press release may constitute "forward-looking statements" within the meaning of legislation in the United Kingdom and/or United States Private Securities Litigation Reform Act. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements.

 

Reference should be made to those documents that Midatech shall file from time to time or announcements that may be made by Midatech in accordance with the London Stock Exchange AIM Rules for Companies ("AIM Rules"), the Disclosure and Transparency Rules ("DTRs") and the rules and regulations promulgated by the US Securities and Exchange Commission, which contains and identifies other important factors that could cause actual results to differ materially from those contained in any projections or forward-looking statements. These forward-looking statements speak only as of the date of this announcement. All subsequent written and oral forward-looking statements by or concerning Midatech are expressly qualified in their entirety by the cautionary statements above. Except as may be required under the AIM Rules or the DTRs or by relevant law in the United Kingdom or the United States, Midatech does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise arising.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

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RNS Number : 1298C

Osirium Technologies PLC

15 October 2020

 

15 October 2020

RNS REACH

 

 

Osirium Technologies plc

("Osirium" or "the Group")

 

Competitive contract win for PAM and PEM solutions with leading healthcare provider

 

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a contract win with a leading provider of health services across the UK. The order was secured against competition from two other suppliers of Privileged Access Management ("PAM") technologies.

 

The new customer has made a multi-product purchase including Osirium's PAM solution and 5,000 endpoints of Osirium's Privileged Endpoint Management ("PEM") platform. This combination provides them a complete solution from protecting privileged user accounts through to protecting privileges at the end-point level. Osirium's Professional Services team will assist with the implementation and rollout of both products as part of the contract. 

 

Key factors in both Osirium PAM and Osirium PEM being selected over competitors were Osirium's collaborative and consultative engagement model and approach to the project. The solutions' simplicity of deployment and ease of use were also large factors in the decision as the customer is looking to deploy rapidly to gain an immediate return on investment. The transparency of the licensing model made it straightforward to see what was included in Osirium's offering, and the ability of Osirium's PAM platform to securely automate essential processes was also a key differentiator.

 

The Osirium solutions are to be implemented to address multiple operational and security challenges. Addressing potential threats to the IT infrastructure, such as ransomware attacks, Osirium PEM will control and remove local user admin rights, while the PAM platform will be used to control and audit internal and third party access to critical servers, applications and networking equipment, including the ability to automate simple and complex IT tasks.

 

David Guyatt, Chief Executive Officer, commented: "Having finished the previous quarter with a string of excellent orders from new clients, I am delighted that Osirium is starting the new quarter in a similar vein with another new customer and competitive win.

 

Our industry regularly talks about the 'Principle of Least Privilege' – delivering security by permitting only the minimum level of privileged access. By offering the complete Privileged Access Security portfolio of solutions, we help customers make this principle a reality, and this new contact win is a clear illustration of that philosophy. Osirium PAM secures the vital infrastructure and Osirium PEM provides the balance between infrastructure and users, making the desktop safer than ever."

 

 

For further information:

Osirium Technologies plc	Tel: +44 (0) 118 324 2444
David Guyatt, Chief Executive Officer Rupert Hutton, Chief Financial Officer www.osirium.com
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)	Tel: +44 (0) 20 7710 7600
Fred Walsh / Richard Short
Alma (Financial PR) David Ison / Josh Royston / Kieran Breheny	Tel: +44 (0) 203 405 0205

 

Notes to Editors:

 

Osirium Technologies plc (AIM: OSI) operates in one of the fastest growing parts of the cybersecurity market and is a leading vendor of Privileged Access Security solutions. Osirium's cloud-based products protect critical IT assets, infrastructure and devices by preventing targeted cyber-attacks from directly accessing Privileged Accounts, removing unnecessary access and powers of Privileged Account users, deterring legitimate Privileged Account users from abusing their roles and containing the effects of a breach if one does happen.

Osirium has defined and delivered what the Directors view as the next generation Privileged Access Management solution. Osirium's award-winning Privileged Task Management module further strengthens Privileged Account Security by minimising the cyber-attack surface and delivering an impressive return on investment benefits for customers. Building on Osirium's Privileged Task Management module, in May 2019 Osirium launched Privileged Process Automation, providing a highly-flexible platform for automating essential IT processes to set a new benchmark in IT Process Automation. This was followed by the launch of Privileged Endpoint Manager in December 2019, bringing the total portfolio to three complementary solutions.

Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to AIM in April 2016. For further information please visit www.osirium.com.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

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RNS Number : 8960B

Immotion Group PLC

13 October 2020

 

Immotion Group plc

 

("Immotion Group", the "Company")

 

Immotion extends contract with Mandalay Bay

 

Immotion Group, the UK-based immersive entertainment group, is pleased to announce it has reached agreement with Mandalay Bay Resort and Casino in Las Vegas to extend the contract for its 'Undersea Explorer Virtual Reality Theater' from 18 months to a term of 30 months from opening. 

 

The 36-seat VR theatre and immersive experience centre, included with admission to the Shark Reef Aquarium, has been in operation since August 1, 2020.  The revised agreement extends the contract until February 2023.

 

 

Rod Findley, Group Commercial Director – Immotion said: "We couldn't be happier. It has been an absolute pleasure working with Mandalay Bay and the Shark Reef Aquarium team. Undersea Explorer is a ground-breaking new kind of attraction for aquariums and resorts and we look at the contract extension as a vote of confidence in our offering."

 

"The guest reaction to the experience has been so overwhelmingly positive that we are just happy to be able to immerse more Shark Reef Aquarium patrons in our virtual undersea world.  From the business side, the extended contract will allow us the opportunity to perform to full potential for a good stretch of time once the pandemic has passed."

 

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014

 

 Enquiries:

 For further information please visit  www.immotion.co.uk , or contact: 

 

Immotion Group	Martin Higginson	Tel: +44 (0) 161 235 8505
WH Ireland Limited (Nomad and Joint Broker)	Adrian Hadden  Darshan Patel Matthew Chan	Tel + 44 (0) 207 220 1666
Shard Capital Partners LLP (Joint Broker)	Damon Heath Erik Woolgar	Tel: +44 (0) 20 7186 9900
Alvarium Capital Partners	Alex Davies	Tel: +44 (0) 207 195 1433

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact  [email protected]  or visit  www.rns.com .

 

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This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

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Neville Registrars is delighted to welcome Fonix Mobile plc as the newest addition to its list of client companies.

Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce.

Further information can be found on the Company's website: https://www.fonix.com/

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Neville Registrars is delighted to welcome Oxford Biodynamics PLC as the newest addition to its list of client companies.

Oxford Biodynamics is a biotechnology company focused on the discovery and development of novel biomarkers for use within the biotechnology and pharmaceutical industries.

Further information can be found on the Company's website: https://www.oxfordbiodynamics.com/

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RNS Number : 6935B

Image Scan Holdings PLC

12 October 2020

 

12 October 2020

 

IMAGE SCAN HOLDINGS PLC

("Image Scan" or the "Company")

 

LAUNCH OF INNOVATIVE NEW SECURITY SYSTEM

 

Image Scan, (AIM: IGE) specialists in the field of X-ray imaging for the security and industrial inspection markets, announces the market launch of the AXIS-CXi, an innovative cabinet X-ray system for use in mailrooms and a wide range of other security screening environments.

The AXIS-CXi uses the dual energy X-ray technology deployed in airport security and in Image Scan's own portable X-ray systems to separate different classes of material, the first time this technology has been offered in a cabinet X-ray format. In addition, the system will offer a large chamber and improved X-ray performance, making it suitable for use beyond mailrooms, the environment where most cabinet X-ray systems have traditionally been deployed. Potential additional opportunities include government and commercial buildings, prisons, and customs.

AXIS-CXi will be shown to potential customers for the first time at the Total Security Summit, a security technology event to be held online on Monday 12th October. This is an example of how the Company has successfully adapted its marketing strategy to reflect the travel restrictions imposed during the COVID-19 pandemic.

The Company worked with Bluefrog Design, an award-winning industrial design company based in Leicester, on the external appearance of the new system, work that will be incorporated into future Image Scan products.   

Bill Mawer, Chairman and Chief Executive Officer of Image Scan commented: "With outstanding support from our staff and our partners, we have continued to drive our new product development projects forward through the COVID-19 pandemic. It is, therefore, a moment of pride for the whole organisation to launch such an exciting new product at this time. The new system is important for us, expanding our sources of income and, as units are installed around the world, increasing our recurring support revenue." 

The Company will provide a pre-close statement on its results for the year to 30 September 2020 in late October 2020. 

 

For further information on the Company, please visit:   www.ish.co.uk   and for further information on its products, please visit:   www.3dx-ray.com

 

Enquiries:
Image Scan Holdings plc William Mawer, Chairman and Chief Executive Officer Sarah Atwell King, Finance Director and Company Secretary	Tel: +44 (0) 1509 817 400 [email protected]
W H Ireland – Nominated Adviser and Broker Mike Coe/Chris Savidge (Corporate Finance) Jasper Berry (Broking)	Tel: +44 (0) 117 945 3470

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

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RNS Number : 4344B

Osirium Technologies PLC

08 October 2020

 

8 October 2020

RNS REACH

 

 

Osirium Technologies plc

("Osirium" or "the Group")

 

Competitive contract win with major UK Retailer

 

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a contract win with a major UK high street retailer. The contract win was secured in a competitive bid against four other Privileged Access Management ("PAM") vendors and displaces an incumbent supplier, highlighting the strength of Osirium's functionality and integrated PAM platform.

 

The new client has purchased a 60-month term license for the Osirium PAM platform including the Privileged Access Management, Privileged Task Management and Privileged Session Management modules. Consultancy and training from Osirium Professional Services are included in the contract.

The Osirium PAM platform has been selected after a three-month sales cycle, including a competitive Proof of Concept. Key selection criteria included ease of deployment and use, ability to connect seamlessly to a mixed Windows and Linux environment, highly flexible and resilient architecture, and ability to manage privileged account rotation on a large scale.

 

The initial priorities for the client are securing and auditing internal access to the IT infrastructure. This includes controlling access to the systems that manage devices and user accounts (including Active Directory). The client also intends to use Osirium PAM with multi-factor authentication, to integrate and automate complex and essential processes.

 

David Guyatt, Chief Executive Officer, commented: "I am delighted that Osirium has won another prestigious household name client in the retail sector. The fact that we have won against four other PAM competitors, including displacing an incumbent supplier, is further evidence of customers recognising the completeness of the Osirium proposition. The completion of the sales process in under three months is an illustration not only of increasing demand for PAM, but also of the effectiveness of our customer engagement model. We look forward to updating the market on further new contract wins and developments in due course."

 

 

For further information:

Osirium Technologies plc	Tel: +44 (0)1183 242 444
David Guyatt, Chief Executive Officer Rupert Hutton, Chief Financial Officer www.osirium.com
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)	Tel: +44 (0)20 7710 7600
Fred Walsh / Richard Short
Alma (Financial PR) David Ison / Josh Royston / Kieran Breheny	Tel: +44 (0)20 3405 0205

 

Notes to Editors:

Osirium Technologies plc (AIM: OSI) operates in one of the fastest growing parts of the cybersecurity market and is a leading vendor of Privileged Access Security solutions. Osirium's cloud-based products protect critical IT assets, infrastructure and devices by preventing targeted cyber-attacks from directly accessing Privileged Accounts, removing unnecessary access and powers of Privileged Account users, deterring legitimate Privileged Account users from abusing their roles and containing the effects of a breach if one does happen.

Osirium has defined and delivered what the Directors view as the next generation Privileged Access Management solution. Osirium's award-winning Privileged Task Management module further strengthens Privileged Account Security by minimising the cyber-attack surface and delivering an impressive return on investment benefits for customers. Building on Osirium's Privileged Task Management module, in May 2019 Osirium launched Privileged Process Automation, providing a highly-flexible platform for automating essential IT processes to set a new benchmark in IT Process Automation. This was followed by the launch of Privileged Endpoint Manager in December 2019, bringing the total portfolio to three complementary solutions.

Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to AIM in April 2016. For further information please visit www.osirium.com.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

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RNS Number : 0236B

Solid State PLC

05 October 2020

 

 

Solid State plc

("Solid State", the "Group" or the "Company")

˃$4m Optoelectronics Contract

 

 

Solid State plc (AIM: SOLI), the AIM listed manufacturer of computing, power and communications products, and value added distributor of electronic and optoelectronic components, is pleased to announce the award of a 3 year contract to supply optoelectronic modules to a leading UK instrumentation company.  The contract has been awarded to Solid State's Pacer optoelectronics business unit acquired by the Group in November 2018.

 

The customer is a long standing client of Pacer.  Approximately $1.7m will be recognised in the first year of the contract.

 

John Macmichael, Managing Director of the Value Added Distribution division, said:

"It is particularly pleasing to be announcing this contract with a longstanding customer.  It ably demonstrates the resilience of Solid State's revenues and customer relationships, whilst reinforcing the value to the Group of the recent strategic acquisition of Pacer Technologies."

 

 

For further information please contact:

 

Solid State plc	Via Walbrook PR
Gary Marsh – Chief Executive Peter James – Group Finance Director	[email protected]
Walbrook PR (Financial PR)	020 7933 8780
Tom Cooper / Paul Vann	0797 122 1972
	[email protected]

 

 

Analyst Research Reports:   For further analyst information and research see the Solid State plc website: https://solidstateplc.com/research/

 

 

Notes to Editors:

 

Solid State plc (SOLI) is a value added electronics group supplying industrial and military markets with ruggedised/durable components, assemblies and manufactured units for use in harsh environments.  The Group's mantra is – 'Trusted technology for demanding applications'.  To see an introductory video on the Group – https://youtu.be/bp4WfLCEc5Y  

 

Operating through two main divisions: Manufacturing (Steatite) and Value Added Distribution (Solid State Supplies & Pacer); the Group specialises in complex engineering challenges often requiring design-in support and component sourcing for computing, power, communications, electronic and optoelectronic products.

 

Headquartered in Redditch, Solid State employs over 200 staff across the UK with a branch office in the USA, serving specialist markets in oil & gas production, transportation, medical, construction, security, military and field maintenance. 

 

Solid State was established in 1971 and admitted to AIM in June 1996.  The Group has grown organically and by acquisition – having made 10 acquisitions since 2002.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

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RNS Number : 0211B

Mode Global Holdings PLC

05 October 2020

 

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

5 October 2020

Mode Global Holdings PLC 

Admission to Trading on the London Stock Exchange and First Day of Dealings

Mode Global Holdings PLC ("Mode"), the UK-based Fintech Group, is pleased to announce that Mode's entire issued ordinary share capital  has today been admitted to the standard listing segment of the Official List of the FCA and to trading on the London Stock Exchange's Main Market for listed securities under the ticker "MODE".

 

Mode has successfully raised £7.5 million (before expenses) by way of a placing of 15 million new Ordinary Shares with institutional and other investors at a price of 50 pence per Ordinary Share (the "Placing Price"). Mode's market capitalisation at the Placing Price on admission will be £40.3 million. Peterhouse Capital Limited ("Peterhouse") is acting as Sole Broker in relation to the Admission.

 

Jonathan Rowland, Executive Chairman, commented: "The Mode offering was oversubscribed and well supported by existing investors and a range of new institutional investors. Today marks a pivotal moment for Mode, as one of the first publicly listed financial services companies with a consumer focused-digital asset offering to list on the LSE Main Market. Mode's admission is a vote of confidence in our business strategy and our mission to reduce fragmentation and inefficiencies across the banking, payments, investment and loyalty industries."

 

Enquiries   For further information please visit www.modebanking.com or contact:
(IR/PR Contact) Maitland/AMO Neil Bennett/James Isola   [email protected]	Tel: 020 7379 5151
Alfred Henry Corporate Finance Limited (Financial Adviser) Nick Michaels/Jon Isaacs	Tel: 020 3772 0021
Peterhouse Capital Limited Lucy Williams/Charles Goodfellow/Duncan Vasey	Tel: 020 7469 0930

Notes to Editors

 

Overview of Mode

 

Mode is a UK-based Fintech Group, building a modern financial services business to support an increasingly digitised economy and financial system, combining the best of banking, payments, investment, loyalty and digital assets.  Our business today comprises:

 

· Mode app – a ground-breaking digital banking app that allows users to manage their traditional and digital assets all in one place.

 

· Bitcoin Jar – one of the highest-yielding and most flexible interest-generating accounts for Bitcoin in the market (accessible through the Mode app).

 

· Business payments (WeChat and Alipay) – payment processing services for UK and European businesses to tap into the Chinese market. Mode has secured key partnerships with Tencent (WeChat) and Alipay.

 

· Business marketing services (WeChat) – marketing and social media services for UK and European businesses on one of China's most popular apps.

 

After Admission, Mode will seek to:

 

· Launch a novel payments solution powered by Open Banking that eliminates the need for cards. The new solution will aim to facilitate direct and seamless transactions in traditional and digital currency between businesses and Mode users. Mode's payment solution will not rely on the card schemes and as such will not be subject to any of their fees and/or restrictions. Furthermore, Mode's ecosystem-centric business model will seek to build a stronger consumer – business relationship, which the Directors believe will enable Mode to operate a significantly more diversified revenue model than the challenger banks, including both 'regular' Fintech revenue streams in addition to a range of more stable and high value revenue sources.

 

· Develop a loyalty and rewards engine that builds on banking, financial and payment-related insights, allowing businesses to run targeted loyalty campaigns to engage with new and existing consumers.

 

· Integrate the new payment and loyalty capabilities into the Mode app and relaunch as a next-generation super app with unique banking, payment, investment, loyalty and digital asset features, all in one.

 

· Continue to expand Mode's business client base using global payment and marketing services, connecting more UK and European businesses with a growing consumer base from China and beyond.

 

Important legal information

 

Alfred Henry Corporate Finance Limited and Peterhouse, each of which is authorised and regulated in the United Kingdom by the FCA, are acting exclusively for the Company and no one else in connection with the Company's initial public offering (the "Offer"), and will not regard any other person (whether or not a recipient of this document) as their respective clients in relation to the Offer and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, nor for providing advice in relation to the Offer or any transaction, matter, or arrangement referred to in this announcement.

 

This announcement is only addressed to and directed at specific addressees who: (A) if in member states of the European Economic Area (the "EEA"), are persons who are "qualified investors" within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (as amended) ("Qualified Investors"); and (B) if in the United Kingdom, are Qualified Investors who are: (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order; or (C) are other persons to whom it may otherwise lawfully be communicated (all such persons referred to in (B) and (C) together being "Relevant Persons"). This announcement must not be acted or relied on (i) in the United Kingdom, by persons who are not Relevant Persons and (ii) in any member state of the European Economic Area by persons who are not Qualified Investors. Any investment activity to which this announcement relates (i) in the United Kingdom is available only to, and may be engaged in only with, Relevant Persons; and (ii) in any member state of the EEA is available only to, and may be engaged only with, Qualified Investors.

 

This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada, Japan or South Africa. This announcement is not an offer of securities for sale into the United States, Australia, Canada, Japan or South Africa. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction of the United States. The securities may not be offered or sold in the United States, except pursuant to an applicable exemption from or in a transaction not subject to the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. No public offering of the securities referred to herein is being made in the United States.

 

Neither Alfred Henry Corporate Finance Limited, Peterhouse nor any of their respective affiliates and/or any of their or their affiliates' directors, officers, employees, advisers and/or agents accepts any responsibility or liability whatsoever for, or makes any representation or warranty, express or implied, as to, the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) and/or any other information relating to the Company, Mode and/or its associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

LISEANEDELNEFEA

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Neville Registrars is delighted to welcome Mode Global Holdings plc as the newest addition to its list of client companies.

Mode Global Holdings plc is a holding company whose sole activity is to hold 100% of the shares of Mode Global Limited

Further information can be found on the Company's website: https://www.modebanking.com/

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