Dominic Berger, Chairman, & Neil Smith CEO of LifeSafe #LIFS discuss why they believe the company’s eco-friendly fire safety protection products, to both protect and detect fires, are market disrupting.
Dominic Berger, Chairman, & Neil Smith CEO of LifeSafe #LIFS
discuss why they believe the company’s eco-friendly fire safety protection products, to both protect and detect fires, are market disrupting.
LifeSafe has developed what the Directors believe to be market disrupting, eco-friendly fire safety protection products to both protect (via fire extinguishers) and detect (via carbon monoxide, smoke and heat alarms) fires.
At the centre of the Group's product range is the FER1000 extinguishing fluid, for which the Group has received a notice of intention to grant a patent in the UK. The FER1000 fluid has been developed by LifeSafe to extinguish five different types of fire: electrical, paper, textiles, cooking oil, and petrol and diesel. The Group's best-selling product using this extinguishing fluid is the StaySafe 5-in-1 fire extinguisher. It was launched on Amazon Prime in the UK in August 2021 and subsequently became Amazon Prime's top selling fire extinguisher in the UK in the same month.
The Board believes that the FER1000 fluid and its associated product range have an international addressable market, can save many lives and protect properties and belongings. The Directors also believe that the Group's growth will be driven by the innovative nature of its StaySafe 5-in-1 product which extinguishes five types of fire and its new fluid derivatives and product launches expected in 2023.
In conjunction with Admission, the Company has raised gross proceeds of £3 million by way of a placing of 4,000,000 new ordinary shares of one penny each (the "Fundraising") at a price of 75 pence per share (the "Placing Price").
WH Ireland Limited is acting as Nominated Advisor and Broker to the Company.
· The market capitalisation of the Company will be approximately £16.6 million on Admission.
· On Admission, the Company will have 22,108,050 Ordinary Shares in issue and a free float of approximately 52.94 per cent.
· Placing to raise gross proceeds of £3 million (before expenses) for the Company.
· Net proceeds of the Placing received by the Company will enable the Group to accelerate its growth through enhancing its profile and standing in target markets.
· On Admission, the Directors of the Group will own approximately 5.19 per cent. of the issued Ordinary Shares.