LightwaveRF plc ("LightwaveRF" or the "Company") is the Internet of Things ("IOT") provider of the LightwaveRF platform and connected devices enabling domestic and commercial users to remotely monitor and control light, heat, power and security by smartphone, tablet or PC. The Company is pleased to announce that it has raised approximately £215,000 of equity investment from Committed Capital Financial Services Limited ("Committed Capital").
Steve Harris, chief executive of private equity firm Committed Capital, which invested in IFA acquisitor Fairstone, said changes such as the Retail Distribution Review and pension freedoms have made life difficult for small firms.
As a result, he said investors are seeing opportunities to obtain decent returns on their cash by buying small firms and building larger intermediary businesses.
One of the UK's most effective tax shelters is being refocused - but investors can still reap the benefits with proper planning, says Steven Harris
EIS investment offers one of the most effective tax shelters in the UK market at present. The government introduced the Enterprise Investment Scheme in 1994 in order to encourage private investment into promising smaller UK companies - a sensible plan given the role this sector of the economy plays in driving both employment growth and innovation.
Fundraising and Directorate Changes
LightwaveRF plc ("LightwaveRF" or the "Company"), the creator of the LightwaveRF Smart Home Platform and products for the Internet of Things enabling households and businesses to remotely operate and controllighting, power, heating and security using smartphones, tablets, PC and MAC applications, today announces a placing and subscription of 6,275,375 New Ordinary Shares at a price of 23 pence per share to raise approximately £1.44 million before expenses ("the Fundraising"). The Fundraising was conducted by WH Ireland and Committed Capital.
A Birmingham technology company is aiming to raise more than £1.4m by placing new shares on the London Stock Exchange.
LightwaveRF is behind the LightwaveRF Smart Home Platform, which enables home and business owners to control lighting, power, heating and security using smartphones, tablets or PCs.
AIM listed smart home technology firm LightwaveRF has raised £1.44m through a share issuance conducted with WH Ireland and Committed Capital.
LightwaveRF produces internet of things related products which enable households and businesses to remotely operate and control lighting, power, heating and security using smartphones, tablets, PC and MAC apps.
Growth capital investment business, Committed Capital has completed its investment into AIM-listed affordable smart home technology provider, LightwaveRF plc.
The total investment LightwaveRF plc was seeking was £1.5m, of which the Mayfair-based company has invested £1.1m.
Starting up a new advisory business at the height of the financial crisis would be considered by many to be a baptism of fire.
But for Fairstone Group chief executive Lee Hartley, the erratic and uncertain financial backdrop presented an opportunity to prove the strength of his technology-centred business proposition.
Steve Harris, the chief executive of London-based investment managers Committed Capital, has said he is investing EIS funds into the financial advice sector.
He said the regulatory changes which have taken place in the financial advice space have made it a “fascinating” area for investment.