LONDON, UK: LifeSafe Holdings plc, a fire safety technology business with innovative fire safety products, announced its intention to seek admission of its shares to trading on AIM, a market of the London Stock Exchange.

The Group is seeking to raise £3 million by way of a placing of new ordinary shares, which is expected to take place in June 2022. WH Ireland Limited is acting as Nominated Advisor and Broker to the Group in relation to the Placing and Admission.

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, which 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 patent pending 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 fluid and its associated product range have an international addressable market, will save many lives and will protect properties and belongings. LifeSafe believes that Admission will enable the Group to accelerate its growth through enhancing its profile and standing in target markets. The Directors believe that the Group’s growth will be driven by the innovative nature of its products which extinguish five types of fire and its new fluid derivatives and product launches expected in 2023.

LifeSafe will leverage the Board and Senior Management’s expertise, experience and contacts in the fire safety industry to drive value creation in the Group. In the year ended 31 December 2021, the Group generated revenues of £670k and a loss post taxation of £1.5 million. Since 31 December 2021, the Group has continued to market its products in the UK and Europe and launched them in the US and Canada earlier this year. With total sales having increased each month LifeSafe believes that the Group has excellent prospects.

Key competitive strengths

LifeSafe’s purpose is to generate significant returns for Shareholders through establishing new markets for its innovative fire extinguisher products. The Directors believe that the Group has the following key competitive strengths:

·        Strong management team – LifeSafe has a highly experienced management team which is seeking to apply innovative new technologies to create new markets for the Group in fire safety;

·        High quality product – LifeSafe’s StaySafe 5-in-1 extinguisher, a compact, fully recyclable, lightweight, maintenance-free, easy-to-use, fire extinguisher, which contains its FER1000 fire extinguishing fluid, which is both non-toxic and environmentally friendly, and extinguishes five types of fire;

·        Proven digital marketing strategy – LifeSafe’s digital marketing strategy and expertise has enabled it to grow sales strongly, achieving a high return on advertising spend;

·        Exceptional customer service – LifeSafe’s service led culture is reflected in the high levels of customer satisfaction as seen through its Trustpilot rating of “Excellent”;

·    Multi-channel sales strategy – LifeSafe has established relationships internationally with Amazon, and in the UK with Screwfix Direct Ltd retail group (“Screwfix”), and increasingly with other wholesale customers, such as Bunzl, various UK housing associations and home insurance companies;

·        Revenue enhancing LifeSafe App – the App enables the Company to market its products directly to interested customers and provide useful tutorials; and

·        Significant research & development capabilities – LifeSafe has a strong pipeline of innovative new products and fluid derivatives expected to be launched in the first half of 2023.

Neil Smith, Chief Executive Officer of LifeSafe, commented: “We are delighted to announce our intention to float on AIM as this represents a new and exciting chapter in the Group’s history.

“We are already making good progress in creating and meeting increasing demand for our life saving products both via our international multi-channel sales strategy which initially targets the consumer market via digital channels and through wholesale and industrial channels.

“It is our firm belief that every home should have our simple to use and highly effective StaySafe 5-in-1 fire extinguisher to protect life and property. Furthermore, and building on the success of our current line up, I am equally as excited about our pipeline of innovative new fluid, and products that we believe will widen our portfolio and open new markets.

“The IPO will provide us with the profile, capital and platform to go on to capture more of what the Directors believe is a growing market with our innovative fire extinguishing products, whilst delivering significant value for our shareholders.”