Further re Issue of Equity
28 June 2005 - 10:43PM
UK Regulatory
RNS Number:1518O
Formjet PLC
28 June 2005
For immediate release 28 June 2005
Formjet plc
('Formjet' or 'the Company')
Further re: Issue of Equity
On 28 April 2005, the Company announced a placing to raise #0.9m, at 6.75 pence
per new Ordinary Share. The Company has now received provisional assurance from
the Inland Revenue that the Company ranks as a qualifying investment for EIS
and VCT purposes. Accordingly it has agreed terms for a further placing of
6,000,000 new Ordinary Shares by the Company with a number of institutional
investors, through Daniel Stewart & Company PLC ('Daniel Stewart'), in order to
raise approximately #0.4 million (before expenses) also at a price of 6.75
pence per new Ordinary Share.
Reasons for the Placing
The proceeds of the Placing will provide capital for new distribution
opportunities, strategic acquisitions of complementary businesses and will
strengthen the Company's shareholder base.
Terms of the Placing
Conditional, inter alia, on the Placing Shares being admitted to trading on
AIM, Daniel Stewart has conditionally placed 6,000,000 new Ordinary Shares with
institutional investors at a price of 6.75 pence per Placing Share, to raise
approximately #0.4 million before expenses. The Placing is not being
underwritten.
The Placing Shares will rank pari passu with the Existing Ordinary Shares.
The Placing Shares are expected to be admitted to trading on AIM on 1 July 2005.
Placing statistics:
Placing price 6.75p
Number of Placing Shares 6,000,000
Estimated net proceeds of the Placing #384,000
Percentage of enlarged share capital represented by the Placing Shares 6.9%
Number of Ordinary Shares in issue following the placing 86,991,338
Enquiries to:
Lyndon Chapman Simon Hudson/Clemmie Carr
Chairman & Chief Executive Officer Tavistock Communications
Formjet plc Tel: 020 7920 3150 or 07966 477256
Tel: 07770 551262
Lindsay Mair / Tom Jenkins
Daniel Stewart & Co Plc
Tel: 020 7374 6789
Notes to Editors:
Formjet acquires territorial rights to 'alternative' software products and
markets, sells, distributes and supports these products in the UK and
internationally, standing in place of the vendor. The business model has been
built around its current UK rights to Panda anti-virus and Internet security
software. Formjet has a family of alternative software products, which now
includes Panda antivirus products, FileStream and Ability.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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