Sondrel (Holdings) plc, the fabless semiconductor business providing turnkey services in the design and delivery of ‘application specific integrated circuits’ (“ASICs”) and ‘system on chips’ (“SoCs”) for leading global technology brands.
Is delighted to announce the admission of its entire issued ordinary share capital to trading on AIM, a market operated by the London Stock Exchange plc (“Admission”).
Admission will take place, and dealings in the Company’s ordinary shares of £0.001 each (“Ordinary Shares”) will commence, at 8.00 a.m. today under the ticker ‘SND’.
In conjunction with Admission, gross proceeds of £20 million have successfully been raised by way of a placing with institutional investors of 36,363,636 new Ordinary Shares (the “Placing”) at a price of 55 pence per Ordinary Share (the “Placing Price”).
Cenkos Securities plc (“Cenkos”) is acting as Nominated Adviser, sole broker and sole bookrunner to the Company.
Key Highlights:
· The Placing received strong support from institutional investors and raised gross proceeds of £20 million.
· The market capitalisation of the Company will be approximately £48.1 million on Admission. The Company has 87,461,772 Ordinary Shares in issue and a free float of approximately 41.1 per cent.
· Sondrel has grown over a period of 20 years and its previous designs have been included in well-known products such as Apple iPhone, Sony PlayStation, Meta’s Oculus Quest virtual reality headset, Samsung, Google and Sony smartphones, JVC prosumer camcorders and Tesla and Mercedes-Benz cars.
· The net proceeds of the Placing will enable the Company to:
o increase the number of engineers it employs;
o invest further in developing its Architecting the Future IP platforms;
o accelerate sales in the USA and in other geographies; and
o strengthen the Group’s balance sheet in, inter alia, the delivery of project-based designs and customer supply management contracts.
· As at 31 July 2022, the Group’s pipeline of revenue opportunities stood at more than £300 million[1] (excluding potentially material related production/supply revenues).
· The Directors have ambitions to grow revenues to over £100 million in the medium term.
· The Company’s admission document is available for viewing at https://ir.sondrel.com/investors
· The ISIN of the Ordinary Shares will be GB00BJN54579, the SEDOL of the Ordinary Shares BJN5457 and the Company’s LEI number 984500D6E7L2A9A54935.
Graham Curren, Chief Executive Officer of Sondrel, commented :
“I am delighted with the strong institutional support we received to enable us to successfully complete our IPO and welcome our new investors. Sondrel is well positioned to benefit from a number of industry and geopolitical megatrends and has a clear strategy to grow revenues to over £100 million in the medium term as demand for our highly complex ASIC chip solutions continues to grow. The differentiated design capability we have developed, designing down to 5nm, makes this a highly significant IPO for the UK semiconductor industry. Our focus is now on increasing the number of engineers we employ, investing further in developing our Architecting the Future IP platforms, and accelerating growth in the USA and other geographies.
“I look forward to providing updates on our progress in the months ahead as we accelerate our growth and deliver value for our shareholders.”
Investor Presentation
Sondrel will be presenting via the Investor Meet Company platform on Tuesday, 1 November 2022 at 15:00 UK Time. The meeting will be hosted by Graham Curren (CEO) and Joe Lopez (CFO) who will provide an introduction to Sondrel and there will be an opportunity for Q&A at the end of the session. Questions can either be submitted pre-event via the Investor Meet Company dashboard up until 9.00 a.m. the day before the meeting or at any time during the live presentation. To sign up for the Sondrel (Holdings) plc presentation via Investor Meet Company please click the following link:
https://www.investormeetcompany.com/sondrel-holdings-plc/register-investor
FOR FURTHER ENQUIRIES:
Sondrel (Holdings) plc
Via Buchanan
Graham Curren, CEO
Tel: +44 (0) 20 7466 5000
Joe Lopez, CFO
