TIDMADID TIDMADIS

RNS Number : 2386D

Armor Designs, Inc.

25 April 2013

Armor Designs, Inc.

("Armor Designs" or "the Company")

Issue of Equity and Director's Dealing

The Company is pleased to announce that it has raised US$1,150,000.00, before expenses, through the subscription of 76,668 new common shares (the "Subscription") of US$0.001 each in the Company (the "Subscription Shares") at a price of US$15 per Subscription Share (the "Subscription Price").

One of the investors (the "Investors") is Robert Elizondo, a non-executive director of the Company, who is investing US$150,000. Following admission of the Subscription Shares to trading on AIM, Robert Elizondo's total shareholding will be 350,000 or 1.29% of the enlarged issued share capital.

As a condition of the Subscription, the Company has agreed with the Investors that in the event the Company issues any shares in the capital of the Company as part of a further fundraising at a price less than the Subscription Price (the "Lower Price") prior to 16 March 2018, the Investors will have the option to subscribe at par (being US$0.001 per share), for such number of additional shares as they would have received had the subscription price per share at Closing been at the Lower Price rather than the Subscription Price. Furthermore, the Investors will have the option to purchase an equal number of shares at a share price of US$0.01 per share prior to 16 March 2018.

The use of proceeds of the Subscription is non-discretionary and restricted for short-term working capital needs, for sustaining current operations and overhead costs.

Application has been made for the Subscription Shares, which will rank pari passu in all respect with the existing ordinary shares, to be admitted to trading on AIM, with dealings in the Subscription Shares expected to commence at 8.00am on 1 May 2013.

Following completion of the Subscription, the Company's enlarged issued share capital will comprise of 27,171,804 ordinary shares of US$0.01 each, with one voting right per share. There are no shares held in treasury. This figure is the number that may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interesting, or a chance to their interest in, the Company under the FCA's Disclosure Rules and Transparency Rules.

For further information:

 
 
  Armor Designs, Inc. 
 
  James A. St. Ville, M.D., COB, CEO, President    Tel: +1 (602) 275-4633 
                                                   www.armordesigns.com 
 
  Daniel Stewart & Company, plc. 
 
  Paul Shackleton and James Felix                  Tel: +44 (0) 2077766550

This information is provided by RNS

The company news service from the London Stock Exchange

END

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