TIDMXPD
RNS Number : 0213Y
Xpediator PLC
30 November 2017
30 November 2017
Xpediator Plc
("Xpediator" or the "Group")
Result of Placing
Xpediator, (AIM: XPD) a leading provider of freight management
services across the UK and Europe, is pleased to announce that
further to the announcement released at 7:00am this morning, the
Company has successfully raised GBP2.8million (before expenses) by
way of an oversubscribed placing of 7,000,000 new ordinary shares
of 5 pence each in the Company ("Placing Shares") at 40 pence each
(the "Placing"). The Placing Shares will represent approximately
6.0% of the Enlarged Share Capital on Admission.
SP Angel Corporate Finance LLP ("SP Angel") and Cantor
Fitzgerald Europe ("Cantor") acted as placing agents to the Company
in connection with the Placing.
Details of the Placing
Application has been made for 7,000,000 Placing Shares, which
will rank pari passu with the existing ordinary shares of 5p each
in the Company ("Ordinary Shares"), to be admitted to trading on
the AIM Market of the London Stock Exchange ("Admission"). It is
expected that Admission will occur on 4 December 2017.
Stephen Blyth, Chief Executive of Xpediator, commented:
"We have been delighted by the response from investors to this
fund raising which was oversubscribed and on behalf of the Board I
would like to welcome all our new shareholders and thank existing
shareholders for their support. This is a positive market
environment for freight management with demand for goods to be
transported in the UK and across the CEE region, a core market for
us, on the rise. We will use the new funds to continue to pursue
our strategy of making earnings accretive acquisitions as well as
deploying additional working capital and enhancing our
profitability through taking advantage of early payment discounts
being offered by suppliers. We are confident the combination of
these factors will combine to add profitable growth to the
business."
Voting Rights
Following the issue of the Placing Shares, the total issued
share capital of the Company will comprise 117,431,144 Ordinary
Shares. The Company does not hold any Ordinary Shares in treasury.
Therefore, the total number of voting rights in the Company is
117,431,144 and this figure may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change in their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
Enquiries:
Xpediator plc Tel: +44 (0)330 043 2395 Stephen Blyth, Chief
Executive Officer Email: info@xpediator.com
Richard Myson, Chief Financial Officer
SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker) Tel: +44 (0)20 3470 0470
Jeff Keating, Caroline Rowe
Elizabeth Johnson (Sales)
Cantor Fitzgerald Europe (Joint Broker) Tel: +44 (0)20 7894
7000
David Foreman, Callum Butterfield (Corporate Finance)
Alex Pollen, Caspar Shand Kydd (Sales)
Novella Communications (Financial Public Relations) Tel: +44
(0)20 3151 7008
Tim Robertson
Toby Andrews
The person responsible for arranging the release of this
announcement on behalf of Xpediator is Richard Myson, Chief
Financial Officer.
For more information, please visit: www.xpediator.com
Notes
FORWARD LOOKING STATEMENTS
To the extent that this Announcement contains certain
forward-looking statements with respect to certain of the Company's
plans and its current goals and expectations relating to its future
financial condition and performance, a number of risks and
uncertainties exist. The Company cautions readers that any
forward-looking statement is no guarantee of future performance and
that actual results could differ materially from those contained in
the forward-looking statements.
A forward-looking statement can be identified by the fact that
they do not relate only to historical or current facts.
Forward-looking statements sometimes use words such as "aim",
"anticipate", "target", "expect", "estimate", "intend", "plan",
"goal", "believe", "predict" or other words of similar meaning.
Examples of forward-looking statements include, amongst others,
statements regarding or which make assumptions in respect of the
planned use of the proceeds of the Placing, the liquidity position
of the Company, the future performance of the Company, future
foreign exchange rates, interest rates and currency controls, the
future political and fiscal regimes in the overseas markets in
which the Company operates, the Company's future financial
position, plans and objectives for future operations and any other
statements that are not historical fact.
By their nature, forward-looking statements involve risk and
uncertainty because they relate to future events and circumstances,
including, but not limited to, economic and business conditions,
the effects of continued volatility in credit markets, market
related risks such as changes in interest rates and foreign
exchange rates, the policies and actions of governmental and
regulatory authorities, changes in legislation, the further
development of standards and interpretations under International
Financial Reporting Standards ("IFRS") applicable to past, current
and future periods, evolving practices with regard to the
interpretation and application of standards under IFRS, the outcome
of pending and future litigation or regulatory investigations, the
success of future acquisitions and other strategic transactions and
the impact of competition. A number of these factors are beyond the
Company's control. As a result, the Company's actual future results
may differ materially from the plans, goals, and expectations set
forth in the Company's forward-looking statements.
Any forward-looking statement made in this Announcement by or on
behalf of the Company speak only as of the date they are made.
These forward-looking statements reflect the Company's judgement at
the date of this Announcement and are not intended to give any
assurance as to future results. Except as required by the FCA, the
London Stock Exchange, the AIM Rules or applicable law, the Company
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward looking statements
contained in this announcement to reflect any changes in the
Company's expectations with regard thereto or any changes in
events, conditions or circumstances on which any such statement is
based.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ROIUROSRBUAAOAA
(END) Dow Jones Newswires
November 30, 2017 09:35 ET (14:35 GMT)
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