How are we doing

How are we doing

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.

2023 Interim Report
31.08.2023

2022 Annual Report and notice of AGM
03.05.2023

2022 Interim Report 
05.08.2022

2021 Annual Report and notice of AGM
26.04.2022

This information was last updated on 22nd March 2024.

The number of securities in issue (noting no treasury shares) – 333,005,500

Details of Restrictions of the Transfer of Securities – there are no restrictions on the transfer of ordinary shares

Name
Number of ordinary shares
% of Light Science Technologies Holdings Ltd
Simon Deacon95,600,00028.7
Guinness Asset Management31,488,1209.5
Intuitive Investments Group plc26,180,0007.9
Dr Graham Cooley25,080,0007.5
Herald Investment Management 19,000,0005.7
David Evans* 15,700,0004.7
Daniel Holliday13,000,0003.9
LSTH Trustee8,900,0002.7

The percentage of AIM securities which are in issue that are not in public hands – 39.3%

* David Evans is a founder and shareholder of Intuitive Investments Group plc.

This information was last updated on 22nd March 2024.

The Company was incorporated in England and Wales on 13 January 2020 and is the holding company of the Group’s controlled environment agriculture (“CEA”) division, comprising Light Science Technologies Ltd (“Light Science Technologies”) and following its acquisition on 6th September 2023, Tomtech (UK) Limited (“Tomtech”). Additionally, the Group encompasses a contract electronics manufacturing (“CEM”) division, UK Circuits and Electronics Solutions Limited (“UK Circuits”) and a passive fire protection (“PFP”) division, LSTH IFB Limited t/a Injecta Fire Barrier (“Injecta Fire Barrier”).

The registered office address is The Mills, Canal Street, Derby, DE1 2RJ, United Kingdom and the company number is 12398098

Light Science Technologies was founded in September 2019 and facilitates the Company’s CEA operations. The Group’s operational facilities in Derby, England, enable the Group to design, test and provide innovative CEA products and services.

Tomtech was founded in 1986 and subsequently incorporated in 2011, complementing Light Science Technologies within the Company’s CEA operations. Tomtech is based in Spalding, England, and designs, manufactures and installs monitoring and control systems for commercial greenhouses and polytunnels across the UK and Ireland.

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.

Injecta Fire Barrier is based in Derby, England and is the UK’s first independent approved installer of the industry disrupting Injectaclad fire resistant graphite barrier system. The system is retrospectively installed within building cavities to reinstate fire resistant performance, containing the spread of fire and smoke, in accordance with fire safety regulation requirements. This unique solution offers a very attractive alternative to the more expensive, time-consuming and disruptive method of removing external building facades and installing traditional fire barrier systems. Injecta Fire Barrier has a proven track record in the PFP market.

Nominated and Financial Adviser to the Company
Strand Hanson Limited
26 Mount Row, Mayfair, London, W1K 3SQ, United Kingdom

Legal Adviser to the Company
Shoosmiths LLP
One Bow Churchyard, London, EC4M 9DQ, United Kingdom

Registrar to the Company
Neville Registrars Limited
Neville House, Steelpark Road, Halesowen, B62 8HD, United Kingdom

Broker to the Company
Oberon Capital Ltd
Nightingale House, 65 Curzon Street, London W1J 8PE

Financial public relations adviser
Walbrook PR Limited
75 King William Street, London, EC4N 7BE, United Kingdom

Please find the below information disclosed pursuant of Rule 26 of the AIM Rules

This information was last updated 22nd March 2024.

DescriptionLink
Admission Document and CircularsCan be viewed here
Business Description Can be viewed here
Company Directors and BiographiesCan be viewed here
Country of Incorporation and OperationsCountry 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 GovernanceCan be viewed here
Corporate documentsCan be viewed here
Financial Reports and ResultsCan 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 tradedThe 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 ShareholdersCan be viewed here
Regulatory NewsCan be viewed here
Takeover CodeThe Company is subject to the provisions of the City Code on Takeover and Mergers

Corporate governance

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 and refer to page 23 onwards of the 2022 Annual Report.

Graham Cooley (Chairman) – 6th March 2024

Board members responsibilities

The Board is responsible for the overall management of the Group. The Board will meet at least 6 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 Richard Mills and Graham Cooley, and is chaired by Richard Mills.

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.

Remuneration Committee

The remuneration committee is comprised of Richard Mills and Graham Cooley, and is chaired by Richard Mills.

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.

Nominations Committee

The nominations committee is comprised of Graham Cooley, Richard Mills and Simon Deacon, and is chaired by Graham Cooley.

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

This information was last updated 22nd March 2024.

Updated corporate governance statement
06.03.24

Updated terms of reference – remuneration committee
06.03.24

Updated terms of reference – audit and risk committee
06.03.24

Terms of reference – nomination committee
06.03.24

Updated corporate governance statement
29.06.2023

Updated terms of reference – remuneration committee
29.06.2023

Updated terms of reference – audit and risk committee
29.06.2023

Updated terms of reference – nomination committee
29.06.2023

Circular
05.04.2023

Admission document
15.10.2021

Corporate governance statement
14.10.2021

Schedule of matters reserved for the board
11.10.2021

Terms of reference – remuneration committee
09.10.2021

Terms of reference – audit and risk committee
09.09.2021

Terms of reference – nomination committee
09.09.2021

Articles of Association
01.07.2021

Click on the documents below to view/download the PDF

Award of Product Development Grant Funding
22.03.2024

Holding(s) in Company
14.03.2024

Holding(s) in Company
12.03.2024

Board Changes and Issue of Share Options
07.03.2024

New Order in a New Market
08.02.2024

Holding(s) in Company
22.01.2024

Trading Update
10.01.2024

Acquisition of Injecta Fire Barrier
21.11.2023

Holding(s) in company
09.11.2023

Grant of options
12.10.2023

Holding(s) in Company
10.10.2023

Expansion of CEA Division’s Global Reach
05.10.2023

Award of Grant Funding
21.09.2023

Holding(s) in Company
07.09.2023

Investor Presentation
07.09.2023

Acquisition of Tomtech
06.09.2023

Holding(s) in Company
31.08.2023

Half-Year Report
31.08.2023

Holding(s) in Company
17.08.2023

Holding(s) in Company
03.08.2023

Change of Registered office
28.07.2023

Trading Update
29.06.2023

Result of AGM
30.05.2023

Holding(s) in Company
09.05.2023

Change of Broker
05.05.2023

Final Results, Board Changes & Notice of AGM
03.05.2023

Notice of Results & Investor Presentation
27.04.2023

Holding(s) in Company
26.04.2023

Holding(s) in Company
25.04.2023

Holding(s) in Company
24.04.2023

Result of General Meeting & TVR
21.04.2023

Result of Fundraising and WRAP Retail offer
18.04.2023

Holding(s) in Company
06.04.2023

Posting of circular
05.04.2023

Wrap retail offer for up to £0.5 million
05.04.2023

Proposed £1.5 million Placing and Subscription
04.04.2023

Appointment of joint broker
27.01.2023

Trading update
02.12.2022

Additional sensorGROW trials and nurturGROW update
08.11.2022

Rentokil Contract Extension and SensorGROW trials
29.09.2022

Zenith Nurseries Contract and UKRI Grant Update
16.09.2022

Q3 Trading update
18.08.2022

Interim results
05.08.2022

Expansion of nurturGROW range & CEM update
23.06.2022

Official launch of sensorGROW
16.06.2022

Trading update
10.06.2022

Director dealing
24.05.2022

Result of AGM
19.05.2022

Notice of AGM and Posting of Annual Report
29.04.2022

2021 Annual Results
26.04.2022

Notice of Results & Investor Presentation
20.04.2022

Director Dealing
28.03.2022

Funding Update & Strengthening of CEA Division
15.02.2022

Director/PDMR Shareholding – Acquisition of Shares
01.12.2021

Investor presentation webinar
25.11.2021

Vox markets presentation
16.11.2021

Zenith and Rentokil Contracts Update
08.11.2021

Placing of Existing Shareholder’s Interest
03.11.2021

Holding(s) in Company
03.11.2021

Holding(s) in Company
18.10.2021

Admission to trading on AIM & First Day of Dealings
15.10.2021

Intention to float on AIM
12.10.2021

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.

Interim Report
31.08.2023

2022 Annual Report and notice of AGM
03.05.2023

2022 Interim Report 
05.08.2022

2021 Annual Report and notice of AGM
26.04.2022

Click on the documents below to view/download the PDF

Award of Product Development Grant Funding
22.03.2024

Holding(s) in Company
14.03.2024

Holding(s) in Company
12.03.2024

Board Changes and Issue of Share Options
07.03.2024

New Order in a New Market
08.02.2024

Holding(s) in Company
22.01.2024

Trading Update
10.01.24

Acquisition of Injecta Fire Barrier
21.11.2023

Holding(s) in Company
09.11.2023

Grant of Options
12.10.2023

Holding(s) in Company
10.10.2023

Expansion of CEA Division’s Global Reach
05.10.2023

Award of Grant Funding
22.09.2023

Holding(s) in Company
07.09.2023

Investor Presentation
07.09.2023

Acquisition of Tomtech
06.09.2023

Holding(s) in Company
31.08.2023

Half-Year Report
31.08.2023

Holding(s) in Company
17.08.2023

Holding(s) in Company
03.08.2023

Change of Registered Office
28.07.2023

Trading Update
29.06.2023

Result of AGM
30.05.2023

Holding(s) in Company
09.05.2023

Change of Broker
05.05.2023

Final Results, Board Changes & Notice of AGM
03.05.2023

Notice of Results & Investor Presentation
27.04.2023

Holding(s) in Company
26.04.2023

Holding(s) in Company
25.04.2023

Holding(s) in Company
24.04.2023

Result of General Meeting & TVR
21.04.2023

Result of Fundraising and WRAP Retail offer 
18.04.2023

Holding(s) in Company
06.04.2023

Posting of Circular
05.04.2023

Wrap retail offer for up to £0.5 million
05.04.2023

Proposed £1.5 million Placing and Subscription
04.04.2023

Appointment of joint broker
27.01.2023

Trading update
02.12.2022

Additional sensorGROW trials and nurturGROW update
08.11.2022

Rentokil Contract Extension and SensorGROW trials
29.09.2022

Zenith Contract Update and UKRI Grant Update 
16.09.2022

Q3 Trading update 
18.08.2022

Interim results 
05.08.2022

Expansion of nurturGROW range & CEM update
23.06.2022

Official launch of sensorGROW 
16.06.2022

Trading update 
10.06.2022

Director dealing 
24.05.2022

Result of AGM 
19.05.2022

Notice of AGM and Posting of Annual Report 
29.04.2022

2021 Annual Results
26.04.2022

Notice of Results & Investor Presentation
20.04.2022

Director Dealing
28.03.2022

Funding Update & Strengthening of CEA Division
15.02.2022

Director/PDMR Shareholding – Acquisition of Shares
01.12.2021

Investor presentation webinar
25.11.2021

Vox markets presentation
16.11.2021

Zenith and Rentokil Contracts Update
08.11.2021

Holding(s) in Company
03.11.2021

Placing of Existing Shareholder’s Interest
03.11.2021

Holding(s) in Company
18.10.2021

Admission to trading on AIM & First Day of Dealings
15.10.2021

Intention to float on AIM
12.10.2021

This information was last updated on 22nd March 2024.

Percentage of shares not in public hands  – 39.3%

Name
Number of ordinary shares
% of Light Science Technologies Holdings Ltd
Simon Deacon95,600,00028.7
Guinness Asset Management31,488,1209.5
Intuitive Investments Group plc26,180,0007.9
Dr Graham Cooley25,080,0007.5
Herald Investment Management 19,000,0005.7
David Evans* 15,700,0004.7
Daniel Holliday13,000,0003.9
LSTH Trustee8,900,0002.7

This information was last updated on 22nd March 2024.

The Company was incorporated in England and Wales on 13 January 2020 and is the holding company of the Group’s controlled environment agriculture (“CEA”) division, comprising Light Science Technologies Ltd (“Light Science Technologies”) and following its acquisition on 6th September 2023, Tomtech (UK) Limited (“Tomtech”). Additionally, the Group encompasses a contract electronics manufacturing (“CEM”) division, UK Circuits and Electronics Solutions Limited (“UK Circuits”) and a passive fire protection (“PFP”) division, LSTH IFB Limited t/a Injecta Fire Barrier (“Injecta Fire Barrier”).

The registered office address is The Mills, Canal Street, Derby, DE1 2RJ, United Kingdom and the company number is 12398098

Light Science Technologies was founded in September 2019 and facilitates the Company’s CEA operations. The Group’s operational facilities in Derby, England, enable the Group to design, test and provide innovative CEA products and services.

Tomtech was founded in 1986 and subsequently incorporated in 2011, complementing Light Science Technologies within the Company’s CEA operations. Tomtech is based in Spalding, England, and designs, manufactures and installs monitoring and control systems for commercial greenhouses and polytunnels across the UK and Ireland.

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.

Injecta Fire Barrier is based in Derby, England and is the UK’s first independent approved installer of the industry disrupting Injectaclad fire resistant graphite barrier system. The system is retrospectively installed within building cavities to reinstate fire resistant performance, containing the spread of fire and smoke, in accordance with fire safety regulation requirements. This unique solution offers a very attractive alternative to the more expensive, time-consuming and disruptive method of removing external building facades and installing traditional fire barrier systems. Injecta Fire Barrier has a proven track record in the PFP market.

Nominated and Financial Adviser to the Company
Strand Hanson Limited
26 Mount Row, Mayfair, London, W1K 3SQ, United Kingdom

Legal Adviser to the Company
Shoosmiths LLP
One Bow Churchyard, London, EC4M 9DQ, United Kingdom

Registrar to the Company
Neville Registrars Limited
Neville House, Steelpark Road, Halesowen, B62 8HD, United Kingdom

Broker to the Company
Oberon Capital Ltd
Nightingale House, 65 Curzon Street, London W1J 8PE

Financial public relations adviser
Walbrook PR Limited
75 King William Street, London, EC4N 7BE, United Kingdom

Click on the documents below to view/download the PDF

This information was last updated 22nd March 2024.

Updated corporate governance statement
06.03.24

Updated terms of reference – remuneration committee
06.03.24

Updated terms of reference – audit and risk committee
06.03.24

Updated terms of reference – nomination committee
06.03.24

Updated corporate governance statement
29.06.2023

Updated terms of reference – remuneration committee
29.06.2023

Updated terms of reference – audit and risk committee
29.06.2023

Updated terms of reference – nomination committee
29.06.2023

Circular
05.04.2023

Admission document
15.10.2021

Corporate governance statement
14.10.2021

Schedule of matters reserved for the board
11.10.2021

Terms of reference – remuneration committee
09.10.2021

Terms of reference – audit and risk committee
09.09.2021

Terms of reference – nomination committee
09.09.2021

Articles of Association
01.07.2021

Please find the below information disclosed pursuant of Rule 26 of the AIM Rules

This information was last updated 22nd March 2024.

DescriptionLink
Admission Document and CircularsCan be viewed here
Business Description Can be viewed here
Company Directors and BiographiesCan be viewed here
Country of Incorporation and OperationsCountry 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 GovernanceCan be viewed here
Corporate documentsCan be viewed here
Financial Reports and ResultsCan 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 tradedThe 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 ShareholdersCan be viewed here
Regulatory NewsCan be viewed here
Takeover CodeThe Company is subject to the provisions of the City Code on Takeover and Mergers

Corporate governance

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 and refer to page 23 onwards of the 2022 Annual Report.

Graham Cooley (Chairman) – 6th March 2024

Board members responsibilities

The Board is responsible for the overall management of the Group. The Board will meet at least 6 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 Richard Mills and Graham Cooley, and is chaired by Richard Mills.

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.

Remuneration Committee

The remuneration committee is comprised of Richard Mills and Graham Cooley, and is chaired by Richard Mills.

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.

Nominations Committee

The nominations committee is comprised of Graham Cooley, Richard Mills and Simon Deacon, and is chaired by Graham Cooley.

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.

Share Price

Contact

For Media or Investor Relations Enquiries

Walbrook PR

+44 (0) 20 7933 8780

lst@walbrookpr.com