TIDMWTL
RNS Number : 3442M
Waterlogic PLC
14 September 2012
14 September 2012
Waterlogic Plc
("Waterlogic", the "Group" or the "Company")
Director's Dealing
Waterlogic Plc (AIM: WTL.L), a leading designer, manufacturer
and global distributor of point-of-use ("POU") drinking water
purification and dispensing systems, announces that on 13 September
2012 it received notification from Ariel Recanati, Non-Executive
Chairman of the Company, and Tal Recanati, wife of Ariel Recanati,
that they have undertaken certain transfers of their ordinary
shares in the Company which constitute a dealing in the Company's
shares for the purposes of the AIM Rules.
Prior to the transfers, Logiceau Company, LLC ("Logiceau 1")
held a 25.02 per cent. interest in the ordinary shares of the
Company. Logiceau 1 is a family operated company owned equally by
grantor retained annuity trusts ("2011 GRATs") established by each
of Ariel and Tal Recanati for the benefit of their family.
The transfers comprised a distribution of ordinary shares in the
Company by Logiceau 1 to each of Ariel and Tal's 2011 GRATs
respectively following which such shares were ultimately
transferred to a newly formed entity, Logiceau Company 2, LLC
("Logiceau 2"). Like Logiceau 1, Logiceau 2 is a family operated
company owned equally by newly formed GRATs ("2012 GRATs")
established by each of Ariel and Tal Recanati for the benefit of
their family.
After the transfers, Logiceau 1 holds 16,964,503 ordinary shares
in the Company (representing a 21.86 per cent. interest in the
Company) and Logiceau 2 holds 2,449,634 ordinary shares in the
Company (representing a 3.16 per cent interest in the Company) such
that Logiceau 1 and Logiceau 2 in aggregate hold a 25.02 per cent.
interest in the ordinary shares in the Company. The beneficial
holding of Ariel and Tal Recanati did not change as a result of the
transfers nor was any consideration paid for the transfers.
Under the terms of the 2011 GRAT, a further transfer comprising
a distribution of ordinary shares in the Company by Logiceau 1 is
expected to occur between 3 June 2013 and 16 September 2013. Under
the terms of the 2012 GRATs, two further transfers comprising a
distribution of ordinary shares in the Company by Logiceau 2 are
expected to occur; the first between 13 September 2013 and 27
December 2013, and the second between 13 September 2014 and 27
December 2014.
Enquiries:
Waterlogic Plc Tel: +44 (0)20 7074 1800
Jeremy Ben-David, Group Chief Executive Email: waterlogic@kreabgavinanderson.com
Officer
Steve Harrison, Group Chief Financial
Officer
Liberum Capital (Nominated Adviser Tel: +44 (0)20 3100 2000
and Broker)
Steve Pearce
Richard Bootle
Kreab Gavin Anderson (PR Adviser) Tel: +44 (0)20 7074 1800
James Benjamin Email: waterlogic@kreabgavinanderson.com
Madeleine Palmstierna
Website: www.waterlogic.com
Notes to editors:
Waterlogic Plc
Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer
and distributor of mains attached point-of-use ("POU") drinking
water purification and dispensing systems designed for environments
such as offices, factories, hospitals, hotels, schools, restaurants
and other workplaces. Waterlogic is a Jersey registered company.
Waterlogic's products and services are built on the simple vision
of a three stage approach to purity:
1. Filtration to remove unwanted contaminants, chlorine and other water-borne tastes and odours
2. Waterlogic's Firewall(TM) ultra-violet ("UV") technology is
one of the most effective water purification technologies for POU
water dispenser applications currently on the market and its
dispensers are certified by the Water Quality Association as being
able to guarantee 99.9999% pure water 100% of the time, a fact
which has been confirmed by over 5,000 physical tests in
independent laboratories. The innovative Firewall(TM) technology
incorporates a highly-specialised, compact UV system in the
faucet/tap, which ensures that water passes through the UV system
immediately before it is dispensed into a cup. This point of
differentiation for Firewall(TM) is unique in the POU market.
3. BioCote silver antimicrobial protection. Plastic surfaces
surrounding dispensing areas of Waterlogic units are infused with a
silver additive called BioCote, a natural anti-microbial that
inhibits the growth of microorganisms, giving yet another layer of
hygienic defence.
Founded in 1992, Waterlogic was one of the first companies to
introduce POU systems to Europe and has been a leader in the POU
market in terms of product design and quality, the application of
new technologies and in sales and service. Waterlogic has an
extensive and expanding independent global distribution network in
place, reaching 52 countries around the world.
Waterlogic products are currently being sold in North and South
America, Europe, Asia, Australia and South Africa. Waterlogic's
leading markets are the USA and Western Europe, in particular
Germany, France, Scandinavia and the UK. Of the 1.9 million new POU
and bottled water installations in the business-to-business market
in the USA and Europe between 2005 and 2011, approximately 73%
incorporated POU technology, of which approximately 27% were
Waterlogic products.
The Directors believe that the movement away from bottled water
coolers (BWC) to POU water dispensers is set to continue its
current trend as a result of cost, convenience, health benefits and
environmental considerations.
For the financial year ended 31 December 2011, the Group
generated revenues and adjusted EBITDA (adjusted for share based
incentives expense, capital reorganisation related costs and
acquisition related costs) of USD 84.9 million and USD 13.4
million, respectively, and had approximately 595,000 machines
installed as at 30 June 2012.
As part of Waterlogic's on-going commitment to providing safe
water, the Group has pledged to donate USD 225,000 over the next
three years to WaterAid. WaterAid is a renowned international
non-profit organisation that transforms lives by improving access
to safe water, hygiene and sanitation in the world's poorest
countries. Since 1981 WaterAid has reached 15.9 million people
globally with safe water. Website: www.wateraidamerica.org/
- ENDS -
This information is provided by RNS
The company news service from the London Stock Exchange
END
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