How are we doing
- AIM Rule 26
- Securities and Shareholder Information
- Constitutional Documents
- Corporate governance
- Regulatory news
- Financial reports
- Company information
Please find the below information disclosed pursuant of Rule 26 of the AIM Rules
This information was last updated 16th September 2022.
|Admission Document and Circulars||Can be viewed here|
|Business Description||Can be viewed here|
|Company Directors and Biographies||Can be viewed here|
|Country of Incorporation and Operations||Country of incorporation: England and Wales |
Company registration number: 12398098 Main country of operation: United Kingdom
|Details of the nominated adviser and other key advisers||Can be viewed here|
|Details of the Board and Corporate Governance||Can be viewed here|
|Corporate documents||Can be viewed here|
|Financial Reports and Results||Can be viewed here|
|Details of any other exchanges or trading platforms on which the company has applied or agreed to have any of its securities (Including AIM securities) admitted and traded||The company has not applied or agreed to have any of its securities admitted or traded on any other exchanges or trading platforms other than its admission to trading on AIM with trading code AIM:LST|
|Major Shareholders||Can be viewed here|
|Regulatory News||Can be viewed here|
|Takeover Code||The Company is subject to the provisions of the City Code on Takeover and Mergers|
Click on the documents below to view/download the PDF
This information was last updated 2nd December 2021
Corporate governance statement
Schedule of matters reserved for the board
Terms of reference – remuneration committee
Terms of reference – audit and risk committee
Terms of reference – nomination committee
Articles of Association
The Board is committed to the principles of good corporate governance and believes that an effective corporate governance framework is essential to underpin the success of the Group’s business. The Board is committed to achieving the highest standards of integrity, ethics, professionalism and business practice throughout the Group’s operations. Therefore, the Company has adopted the Quoted Companies Alliance Corporate Governance Code (the “QCA Code”), in line with the AIM Rules for Companies, which requires all AIM-quoted companies to adopt a recognised corporate governance code and to explain how the company complies with and where it departs from the chosen code. Click here for details
Myles Halley (Chairman) – October 2021
Board members responsibilities
The Board is responsible for the overall management of the Group. The Board will meet at least 10 times a year and otherwise on an as-required basis, to review, formulate and approve the Group’s strategy, budgets, corporate actions and oversee the Group’s progress towards its goals.
The key procedures which the Board intends to establish with a view to providing effective internal financial control include the following:
– the Company has instituted a monthly management reporting process to enable the Board to monitor the performance of the Company;
– the Board has adopted and reviewed a comprehensive annual budget for the Company. Monthly results will be examined against the budget and deviations will be closely monitored by the Board; and
– the Board is responsible for maintaining and identifying major business risks faced by the Company and for determining the appropriate courses of action to manage those risks.
The Company has established an Audit and Risk Committee, a Remuneration Committee, and a Nomination Committee, each with formally delegated duties and responsibilities and with written terms of reference. From time to time, separate committees may be set up by the Board to consider specific issues when the need arises.
Audit and Risk Committee
The audit and risk committee comprises Myles Halley, Lisa Clement and Rob Naylor, and is chaired by Myles Halley.
The audit and risk committee is responsible for monitoring the integrity of the Company’s financial statements, reviewing significant financial reporting issues, reviewing the effectiveness of the Company’s internal control and risk management systems, monitoring the need for and if necessary the effectiveness of the internal audit function and overseeing the relationship with the external auditors including advising on their appointment, agreeing the scope of the audit and reviewing the audit findings.
The audit committee meets at least three times a year at appropriate times in the reporting and audit cycle and otherwise as required. The audit committee meets regularly with the Company’s external auditors.
The remuneration committee is comprised of Lisa Clement, Rory James-Duff and Rob Naylor, and is chaired by Lisa Clement.
The remuneration committee is responsible for determining and agreeing with the Board the framework for the remuneration of the Chief Executive Officer, the other executive Directors and other designated senior executives and, within the terms of the agreed framework, determining the total individual remuneration packages of such persons including, where appropriate, bonuses, incentive payments and share options or other share awards.
The remuneration of non-executive Directors is a matter for the executive members of the Board. No Director is involved in any decision as to his or her own remuneration. The remuneration committee meets at least twice a year and otherwise as required.
The nominations committee is comprised of Lisa Clement, Rory James-Duff and Simon Deacon, and is chaired by Lisa Clement.
The nominations committee is responsible for reviewing the structure, size and composition of the Board and identifying and nominating, for the approval of Board, candidates to fill vacancies on the Board as and when they arise. The nominations committee meets at least twice a year and otherwise as required.
Click on the documents below to view/download the PDF
Additional sensorGROW trials and nurturGROW update
Rentokil Contract Extension and SensorGROW trials
Zenith Contract Update and UKRI Grant Update
Q3 Trading update
Expansion of nurturGROW range & CEM update
Official launch of sensorGROW
Result of AGM
Notice of AGM and Posting of Annual Report
2021 Annual Results
Notice of Results & Investor Presentation
Funding Update & Strengthening of CEA Division
Director/PDMR Shareholding – Acquisition of Shares
Investor presentation webinar
Vox markets presentation
Zenith and Rentokil Contracts Update
Holding(s) in Company
Placing of Existing Shareholder’s Interest
Holding(s) in Company
Admission to trading on AIM & First Day of Dealings
Intention to float on AIM
The Company’s historical financial statements are set out in the Admission Document.
The Annual Report and accounts of the Company will be made up to 30 November in each year with copies expected to be sent to Shareholders within the following five months.
The first annual report is prepared to 30 November 2021. The Company will also publish unaudited half-yearly reports to 31 May each year with copies expected to be posted to Shareholders within the following three months.
The first unaudited half-yearly report is prepared to 31 May 2022. The Company’s financial statements will be prepared and presented in Sterling under IFRS.
2022 Interim Report
2021 Annual Report and notice of AGM
This information was last updated on 15th October 2021
The Company was incorporated in England and Wales on 13 January 2020 and is the holding company of the Group’s contract electronics manufacturing (“CEM”) division, UK Circuits and Electronics Solutions Limited (“UK Circuits”), and its controlled environment agriculture (“CEA”) division, Light Science Technologies Ltd (“Light Science Technologies”).
The registered office address office is 1 Lowman Way, Hilton Business Park, Hilton, Derbyshire, DE65 5LJ, United Kingdom and the company number is 12398098
UK Circuits was founded in 1997 and is a contract electronics manufacturer with strong revenue and cash generation. The Group’s manufacturing facilities in Manchester, England enable the Group to design, manufacture and test high-quality CEM products used in a broad range of sectors.
Light Science Technologies was founded in September 2019 and facilitates the Company’s CEA operations. The Group’s state-of-the-art laboratory facilities in Derby, England, enable the Group to design, test and provide innovative CEA products and services.
Nominated and Financial Adviser to the Company
Strand Hanson Limited
26 Mount Row, Mayfair, London, W1K 3SQ, United Kingdom
Legal Adviser to the Company
BDB Pitmans LLP
One Bartholomew Close, London, EC1A 7BL, United Kingdom
Registrar to the Company
Neville Registrars Limited
Neville House, Steelpark Road, Halesowen, B62 8HD, United Kingdom
Broker to the Company
Turner Pope Investments (TPI) Ltd
8 Frederick’s Place, London, EC2R 8AB, United Kingdom
Financial public relations adviser
Walbrook PR Limited
75 King William Street, London, EC4N 7BE, United Kingdom