SerVision plc Issue of Equity (5005T)
20 July 2015 - 7:50PM
UK Regulatory
TIDMSEV
RNS Number : 5005T
SerVision plc
20 July 2015
20 July 2015
SerVision plc
("SerVision" or the "Company")
Issue of Equity
SerVision (AIM: SEV), the AIM quoted developer and manufacturer
of digital security systems, announces that it has issued 2,884,615
new ordinary shares of 1 pence each in the Company (the "New
Ordinary Shares") at a price of 5.2 pence per ordinary share. The
New Ordinary Shares have been issued to YA Global Master SPV Ltd
("YA Global"), an investment fund managed by Yorkville Advisers
Global, LP ("Yorkville"), in satisfaction of GBP150,000 of the
principal outstanding on a loan facility of up to GBP1 million
provided to the Company by YA Global (the "Loan Agreement").
Further details on the Loan Agreement were announced by the Company
on 1 September 2014.
Following the issue of the New Ordinary Shares, the outstanding
principal and interest under the Loan Agreement amounts to
GBP43,640.97. Yorkville and SerVision have agreed that the
outstanding balance will be paid in full by SerVision on 15
September 2015.
Total Voting Rights
Application has been made for admission of the New Ordinary
Shares to trading on AIM ("Admission") and it is anticipated that
Admission will occur on 23 July 2015.
Following Admission the total enlarged issued share capital of
SerVision will be 91,112,637 ordinary shares of 1p each. This
figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
-ends-
SerVision plc +972 2535 0000
Gidon Tahan, Chairman and CEO
Allenby Capital Limited (Nominated +44 (0)20 3328
Adviser and Broker) 5656
Nick Athanas / James Reeve
Leander (Financial PR)
+44 (0)7795 168
Christian Taylor-Wilkinson 157
Notes to Editors
SerVision is a pioneer in the field of security communications
technology and a leading developer and manufacturer of fully
integrated video recording and transmission systems for homeland
security and transportation applications. The Company's core
technology is proprietary video compression which is optimised for
streaming real-time video over any type of cellular or narrowband
network.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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