Dialight raises GBP11 million for transformation programme
27th Sep 2023 12:39
(Alliance News) - Dialight PLC on Wednesday said it has raised GBP10.6 million through a placing and retail offer. Read More
(Alliance News) - Dialight PLC on Wednesday said it has raised GBP10.6 million through a placing and retail offer. Read More
Dialight PLC - London-based electronics company specialising in LED lighting - Plans to raise GBP10.55 million by way of an institutional placing and retail offer at 159 pence per share. Placing will be conducted via an accelerated bookbuild process, which will be launched immediately. Believes the fundraising will enable implementation of the transformation plan to be accelerated and de-risked by providing increased headroom to support near term investment commitments. Explains acceleration and successful execution of the transformation plan would help enable the group to meet its recently published medium term financial targets in its 2026 financial year. Implementation of the transformation plan is expected to return the group to a net cash funding position before the end of financial year 2026. Further, plans offer to existing retail investors of up to GBP1 million shares at GBP1.59 per share. Read More
Dialight PLC - London-based electronics company specialising in LED lighting - Engages in talks with lender HSBC to secure additional covenant flexibility to support the business in the near term, given the current volatility in market conditions. Explains company's financing comprises a USD34 million revolving credit facility with HSBC, which matures in July 2025 and has an option for two one-year extensions. Says HSBC has agreed to vary the interest cover covenant for the September 2023 test period from 4.0x to 2.5x. Read More
(Alliance News) - Dialight PLC on Monday said it swung to an interim loss in line with falling revenue, while it announced the immediate resignation of its chief financial officer. Read More
(Alliance News) - Franchise Brands PLC on Thursday said it will appoint Mark Fryer to the board as chief financial officer, effective from Wednesday next week, after it reported rising revenue in the first half of 2023. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
Dialight PLC - London-based electronics company specialising in LED lighting - Posts a pretax profit of GBP500,000 in 2022, down from GBP700,000 in 2021, as distribution costs rise to GBP25.5 million from GBP21.3 million and administrative expenses increase to GBP26.8 million from GBP23.6 million. Meanwhile, revenue climbs to GBP169.7 million from GBP131.6 million. Explains that the second half of the year saw tougher trading conditions with lower levels of revenue growth and a combination of input cost pressures and global component shortages. Says it enters 2023 in a "good position" but says that the short-term macroeconomic outlook remains "challenging" with global supply chain disruptions not expected to alleviate until the second half of 2023. Read More
(Alliance News) - Dialight PLC on Monday reported a double-digit rise in annual revenue but suffered a fall in profit as expenses rose. Read More
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday. Read More
(Alliance News) - Dialight PLC on Monday said Qinetiq Group PLC chair Neil Johnson will become its non-executive chair on May 17, replacing outgoing chair David Thomas following the conclusion of Dialight's annual general meeting on May 16. Read More
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday. Read More
Dialight PLC - London-based industrial LED lighting firm - Expects revenue of around GBP169 million in 2022, up 29% or 17% on a constant currency basis. However, revenue in December was significantly below expectations, reflecting "seasonal demand being below historic levels as well as several strategic customers deferring anticipated orders". As a result, Dialight now expects to report 2022 underlying operating profit of at least GBP5.0 million, up from GBP4.5 million a year earlier. This is below the board's expectations. Read More
Dialight PLC - London-based industrial LED lighting firm - Says Karen Oliver will step down as chair and non-executive director on December 31 "for personal reasons." Oliver as appointed as chair in August 2021. Senior Independent Director David Thomas will assume the role of chair on an interim basis, as the board undertakes a search for a new chair. Read More
(Alliance News) - Dialight PLC on Wednesday said its revenue has increased significantly as it confirmed its expectations for the full year. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
Anexo Group PLC - Liverpool, England-based credit hire and legal services provider - Hires Mark Fryer as its new chief financial officer, starting on Monday next week, as current CFO Mark Bringloe steps down to "pursue other opportunities". Anexo says Bringloe has been "instrumental in building the finance function and embedding financial systems within the business." Bringloe joined the company in 2009 and led it through its initial public offering in 2018. Anexo says he will remain with the group on a consultancy basis for an initial three months to ensure a smooth transition. Read More