Issue of Equity
01 September 2003 - 7:05PM
UK Regulatory
RNS Number:2145P
Tecteon PLC
01 September 2003
TECTEON PLC
Placing and Additional Listing
Tecteon plc, the AIM quoted company developing patented echo cancellation
software for the telecoms industry, announces that it has raised an additional
#500,000 in a placing of new shares at 5p to fund the final development phase.
Tecteon has made application for admission of 10,000,000 new ordinary shares of
5p each in the Company to trading on AIM and dealings in the new ordinary shares
are expected to commence on 4 September 2003.
Masoud Alikhani, Chairman of Tecteon commented:
"This funding will enable Tecteon to finalise development of the product range
and to extend the marketing programme. More importantly our ability to raise
new capital at a premium to the current market price shows the confidence that
the investors have in the product. Product marketing to date has gone well and
we are in discussion with a number of interested parties and are optimistic that
initial orders will be received in the near future."
For further information contact:
Masoud Ahmadi, Managing Director
Tecteon plc 020 7408 1181
Michael Padley / Susan Scott
Bankside Consultants 020 7444 4140
This information is provided by RNS
The company news service from the London Stock Exchange
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