TIDMWTL
RNS Number : 1619O
Waterlogic PLC
17 September 2013
Date: 17 September 2013
On behalf of: Waterlogic Plc ("Waterlogic", the "Company"
or the "Group")
Embargoed until For immediate release
Waterlogic Plc
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 16th
September 2013 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"),
Logiceau Company 2, LLC ("Logiceau 2") and Logiceau Company 3, LLC
("Logiceau 3") held a 24.99 per cent interest in the ordinary
shares of the Company. Logiceau 1 is a family operated company
owned equally by family trusts for the benefit of Ariel's and Tal
Recanati's immediate family members. Logiceau 2 is also a family
operated company owned equally by grantor retained annuity trusts
("2012 GRATs") established by Ariel and Tal Recanati for the
benefit of their family. Logiceau 3 is also a family operated
company owned equally by grantor retained annuity trusts ("2013
GRAT #1s") 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 2 to each of their respective 2012 GRATs and
then from each 2012 GRAT to Ariel and Tal Recanati, respectively.
Such shares were ultimately transferred to a newly formed entity,
Logiceau Company 4, LLC ("Logiceau 4"). Logiceau 4 is also a family
operated company owned equally by newly formed GRATs ("2013 GRAT
#2s") established by Ariel and Tal Recanati for the benefit of
their family.
After the transfers, Logiceau 1 holds 11,180,165 ordinary shares
in the Company (representing a 14.39 per cent interest in the
Company), Logiceau 2 holds 1,078,238 ordinary shares in the Company
(representing a 1.39 per cent interest in the Company), Logiceau 3
holds 5,784,338 ordinary shares in the Company (representing a 7.45
per cent interest in the Company) and Logiceau 4 holds 1,371,396
ordinary shares in the Company (representing a 1.77 per cent
interest in the Company), such that Logiceau 1, Logiceau 2,
Logiceau 3 and Logiceau 4 in aggregate hold a 24.99 per cent
interest in the ordinary shares in the Company. After the
transfers, beneficial ownership of the ordinary shares in the
Company continues to be held by trusts for the benefit of Ariel and
Tal Recanati and their immediate family members. No consideration
was paid by any party for these transfers.
Under the terms of the 2012 GRATs, a further transfer comprising
a distribution of ordinary shares in the Company by Logiceau 2 is
expected to occur between 13 September 2014 and 27 December
2014.
Under the terms of the 2013 GRAT #1s, two further transfers
comprising a distribution of ordinary shares in the Company by
Logiceau 3 are expected to occur; the first between 21 June 2014
and 4 October 2014, and the second between 21 June 2015 and 4
October 2015.
Under the terms of the 2013 GRAT #2s, two further transfers
comprising a distribution of ordinary shares in the Company by
Logiceau 4 are expected to occur; the first between 16 September
2014 and 30 December 2014, and the second between 16 September 2015
and 30 December 2015.
Enquiries:
Waterlogic Plc Via Redleaf Polhill
Jeremy Ben-David, Group Chief Executive
Officer
Liberum Capital (Nominated Adviser and Tel: 0203 100 2000
Broker)
Steve Pearce
Richard Bootle
Redleaf Polhill Tel: 0207 382 4730
Rebecca Sanders Hewett waterlogic@redleafpr.com
Charlie Geller
David Ison
Notes to editors:
Waterlogic Plc
Waterlogic Plc (AIM: WTL.L) is a leading designer, manufacturer,
distributor and operator 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 over 50 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 2.1 million new POU
and bottled water installations in the business-to-business market
in the USA and Europe between 2005 and 2012, approximately 77%
incorporated POU technology, of which approximately 29% 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 2012, the Group
generated revenues and adjusted EBITDA (adjusted for share based
incentives expense, capital reorganisation related costs and
acquisition related costs) of USD 101.0 million and USD 14.7
million, respectively, and had approximately 640,000 machines
installed as at 31 December 2012.
As part of Waterlogic's on-going commitment to providing safe
water, the Group has pledged to donate USD 225,000 over the three
years from 2012 to 2014 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.com
Website: www.waterlogic.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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