TIDMTUNG

RNS Number : 6034O

Tungsten Corporation PLC

29 May 2015

THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, JAPAN, THE REPUBLIC OF IRELAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL

TUNGSTEN CORPORATION PLC

("Tungsten" or the "Company")

Publication of Circular and Notice of General Meeting

Tungsten Corporation plc (LSE: TUNG) ("Tungsten", the "Company") confirms that a circular including a notice convening a general meeting of the Company (the "General Meeting") was yesterday published and posted to shareholders and is available for download on the Company's website at http://www.tungsten-network.com/uk/about-tungsten/investor-relations/.

Accordingly, the General Meeting will now be held at the offices of Canaccord Genuity Limited at 88 Wood Street, London, EC2V 7QR at 10.00 a.m. on Monday 15 June 2015.

On 21 May 2015, Tungsten announced that it had placed, on 21 May 2015, a total of 21,875,985 new Ordinary Shares at a price of 80 pence per share, raising total gross proceeds of GBP17.5 million. The Placings comprised a Firm Placing of 5,000,000 new Ordinary Shares and a Conditional Placing of 16,875,985 new Ordinary Shares. The Conditional Placing is conditional, inter alia, on shareholder approval at the General Meeting.

Application will be made for the Conditional Placing Shares to be admitted to trading on AIM following the approval of the necessary resolutions at the General Meeting and admission of the Conditional Placing Shares is now expected to take place at 8.00 a.m. on 16 June 2015 ("Second Admission").

The General Meeting and Second Admission dates above supersede those announced on 21 May 2015.

The Board believes that the Placings are in the best interests of the Company and, as part of the Placings, Edmund Truell (via Disruptive Capital Investments Limited) subscribed for, in aggregate, 3,762,500 New Ordinary Shares, and other Directors subscribed for a total of 68,750 New Ordinary Shares. Mr Truell has informed the Board that, having received advice, in his capacity as a shareholder, and having regard to his interest in Disruptive Capital Investments Limited, both he and Disruptive Capital Investments Limited will abstain from voting at the General Meeting.

The Board is recommending that Shareholders vote in favour of the resolutions at the forthcoming General Meeting to enable the Conditional Placing to be concluded successfully.

Enquiries:

 
 
 Tungsten Corporation plc                       +44 20 7280 
  Edmund Truell, Group CEO                      7901 
  Juliana Wheeler, Head of                      +44 20 7280 
  Global Communications                         7973 
 
 Charles Stanley Securities 
  (Nominated Adviser and Joint 
  Broker)                                       +44 20 7149 
  Marc Milmo/Dugald Carlean                     6000 
 
 Canaccord Genuity Limited 
  (Bookrunner and Joint Broker) 
  Simon Bridges/Peter Stewart/Andrew            +44 20 7523 
  Beswick                                       8000 
 
 Neustria Partners (Investors 
  and Analysts) 
  Robert Bailhache/Nick Henderson/Charles       +44 20 3021 
  Gorman                                        2580 
 
 Equus Group (Media) 
  Piers Hooper/Sam Barton/James                 +44 20 7223 
  Culverhouse                                   1100

About Tungsten Corporation plc

Tungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.

Buyer organisations that join Tungsten Network, the world's largest compliant electronic invoice network, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers supply chain financing through Tungsten Bank*; and helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data.

Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It enables suppliers to submit tax compliant e-Invoices in 47 countries, and last year processed transactions worth over GBP121 billion for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal Government.

Tungsten Corporation joined forces with OB10 in 2013 to create the world's largest electronic trading network; and acquired DocuSphere in September 2014, a provider of accounts payable automation solutions

This information is provided by RNS

The company news service from the London Stock Exchange

END

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