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Light Science Technologies Holdings (AIM: LST)

Currency in GBP

Last close As at 26/05/2023


0.03 (2.40%)

Market capitalisation


Light Science Technologies Holdings offers a range of products and services for improving productivity in controlled environment agriculture (CEA). It also offers an end-to-end, full-service contract electronic manufacturing capability (UK Circuits) based in the UK.

The proceeds will predominantly be used for product development and intellectual property protection in the company’s CEA division, as well as for general working capital purposes. In parallel with the fund-raising activity, management is seeking to cut the company’s working capital requirements by reducing the costs of the board and related salaries, taking deposits on CEA systems from customers and making other cost savings within the business.




Equity Analyst

Andy Chambers

Andy Chambers

Director, Industrials

Key Management

  • Andrew Hempsall


  • Jim Snooks


  • Myles Halley

    Non-executive chairman

  • Simon Deacon


Balance Sheet

Forecast net debt (£m)


Forecast gearing ratio (%)


Share Price Performance

Price Performance
% 1M 3M 12M
Actual 15.9 (71.7) (89.4)
Relative 20.3 (70.5) (89.3)
52 week high/low 12.0p/1.1p


Light Science Technologies Holdings has conditionally raised £1.6m (gross) through a placing, private subscription and WRAP retail offer at 1p/share. Of the 107.8m placing shares, 29.5m have been taken by a single investor and use the company’s existing authority to issue shares for cash. These shares have already been admitted to trading, raising £0.3m (gross). Issue of the remaining shares is conditional on shareholder approval at a general meeting on 21 April 2023. Assuming that shareholder approval is granted, this will increase the total number of voting rights to 333.0m. We will update our estimates when the outcome of the general meeting has been announced.

Y/E Nov Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2020A 6.9 0.5 0.2 0.10 12.8 4.6
2021A 7.4 (1.1) (1.6) (0.81) N/A N/A
2022E 8.2 (1.7) (2.3) (1.21) N/A N/A
2023E 10.9 (0.4) (1.0) (0.47) N/A N/A



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