Falanx Group Limited Results of the Placing and Total Voting Rights (2083E)
04 May 2017 - 9:02PM
UK Regulatory
TIDMFLX
RNS Number : 2083E
Falanx Group Limited
04 May 2017
THIS ANNOUNCEMENT, INCLUDING THE INFORMATION INCLUDED IN IT, IS
NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO FROM, OR TO PERSONS IN,
THE UNITED STATES OF AMERICA ("UNITED STATES"), AUSTRALIA, CANADA,
JAPAN, THE REPUBLIC OF IRELAND AND THE REPUBLIC OF SOUTH AFRICA OR
ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO
UNLESS PERMITTED PURSUANT TO AN EXEMPTION UNDER THE RELEVANT LOCAL
LAW OR REGULATION IN ANY SUCH JURISDICTION. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE MARKET ABUSE REGULATION. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN
THE PUBLIC DOMAIN AND SHALL THEREFORE CEASE TO BE INSIDE
INFORMATION.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFERING OF, OR
SOLICITATION TO PURCHASE OR SUBSCRIBE, SECURITIES IN THE
COMPANY.
Falanx Group Limited
("Falanx" or "the Company")
Results of the Placing and Total Voting Rights
Falanx Group Limited (AIM: FLX) a cyber defence and intelligence
provider working with blue chip, SME and government clients
worldwide, is pleased to announce that the proposed placing
announced this morning (the "Placing") was oversubscribed. A total
of 29,090,909 new ordinary shares in the Company (the "Placing
Shares") were successfully placed with investors at a price of
6.875 pence per Placing Share, raising GBP2 million before
expenses.
Turner Pope Investments will receive, as placing agent for the
subscription, 545,455 Ordinary Shares as fees, which are subject to
a 6 month 'Lock-in' period from the date of issue.
The total Ordinary Shares to be issued pursuant to the Placing
represent approximately 23.56% of the Company's existing issued
share capital and will represent, in aggregate, approximately
19.07% of the Company's enlarged issued share capital.
Admission of the new Ordinary Shares to trading on AIM
Application will be made for admission of 29,636,364 new
Ordinary Shares to be issued pursuant to the Placing to trading on
the AIM Market of the London Stock Exchange, which is expected to
take place on or around 8.00 a.m. on 10th May 2017 ("Admission").
The Placing is conditional on Admission becoming effective. The new
Ordinary Shares will, when issued, be credited as fully paid and
will rank equally in all respects with the existing Ordinary
Shares, including the right to receive any dividend or other
distribution declared, made or paid after Admission.
Following Admission, the Company's enlarged issued share capital
will comprise 155,417,268 Ordinary Shares carrying one vote per
share. The Company does not hold any Ordinary Shares in
treasury.
Stuart Bladen, Chief Executive Officer of Falanx Group,
commented:
"The cyber market is growing rapidly and it is important for
Falanx to expand and take market share quickly to maximize our
future value. We are therefore delighted to announce this placing
which followed several approaches from interested investors. The
Board agree it was in our shareholders' interest to serve market
demand for equity in Falanx because it strengthens our capital
reserves, accelerates our growth and completes our pathway to full
profitability without interruption. "
Enquiries:
Falanx Group Limited www.falanx.com
Stuart Bladen, Chief Executive
Officer
SPARK Advisory Partners
Limited
Nominated Adviser
Matt Davis / James Keeshan +44 (0) 203 368 3551
Whitman Howard Limited
Broker
Nick Lovering / Francis
North +44 (0) 207 659 1234
This information is provided by RNS
The company news service from the London Stock Exchange
END
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May 04, 2017 07:02 ET (11:02 GMT)
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