Windar Photonics plc (AIM: WPHO), the AIM-quoted LiDAR wind sensor technology group, has announced the termination of its share subscription facility with GEM Global Yield LLC SCS and reached a full and final commercial settlement over disputed warrants. The settlement agreement, signed on 4 November 2026, resolves outstanding obligations arising from a fundraise announced on 24 August 2026. Investors will note that the termination removes an ongoing financing arrangement and eliminates future fees payable to GEM under the facility.

Key Points

  • Windar Photonics plc (AIM: WPHO) is an AIM-listed technology company specialising in LiDAR wind sensors and software for wind turbine performance optimisation.
  • The company has terminated its GEM share subscription facility and reached a full and final settlement over the GEM Warrants, effective 4 November 2026.
  • An additional 5,500,000 warrants will be issued to GEM, bringing the total GEM Warrants to 11,000,000, all exercisable at a fixed price of 10 pence per warrant.
  • Investors should watch for any further capital structure updates or new financing arrangements following the removal of the subscription facility.

Windar Photonics Closes GEM Share Subscription Facility With Immediate Effect

The share subscription facility between Windar Photonics and GEM Global Yield LLC SCS has been terminated with immediate effect under the terms of the settlement agreement dated 4 November 2026. The announcement states that no further fees are payable by the company following the termination. The SSF had previously provided Windar with a mechanism to raise capital by issuing shares to GEM, and its closure represents a structural change to the company's available financing options. Windar Photonics develops LiDAR wind sensors and an accompanying software suite designed to monitor and optimise performance across multiple wind turbine platforms.

11,000,000 Total GEM Warrants Fixed at 10 Pence Exercise Price Following Settlement

Under the settlement agreement, Windar Photonics will issue an additional 5,500,000 warrants to GEM, bringing the aggregate total of GEM Warrants to 11,000,000. All warrants will be exercisable at a fixed price of 10 pence, which the announcement confirms is the same exercise price applied to warrants issued to shareholders who participated in the August 2026 fundraise. Crucially, all adjustment provisions relating to the number and exercise price of the GEM Warrants have been removed from the warrant instrument, providing certainty over the terms and eliminating the complexity that had arisen following the previous fundraise announcement.

Settlement Resolves Warrant Adjustment Obligations Triggered by August 2026 Fundraise

The settlement follows a disclosure made on 24 August 2026 in which Windar confirmed it was obliged to adjust both the exercise price and the number of GEM Warrants already granted, as a consequence of the fundraise completed at that time. The 4 November 2026 settlement agreement, entered into by the company, GEM Global Yield LLC SCS, and GEM Yield Bahamas Limited, is described in the announcement as a full and final commercial resolution of those obligations, closing out the matter entirely and removing ongoing uncertainty surrounding the warrant terms.