Placing

Angle PLC
06 March 2006


For Immediate Release                                               6 March 2006




                                   ANGLE plc


                           ('ANGLE' or 'the Company')


     Placing of up to 10,205,288  new Ordinary Shares at 79 pence per share

                          to raise up to £8.1 million


ANGLE plc, the venture management and consulting company specialising in the
commercialisation of technology is pleased to announce a conditional Placing of
up to 10,205,288 new Ordinary Shares at 79 pence per share to raise up to £8.1
million before expenses.


Key Points


  • The issue of the Placing Shares, assuming maximum subscription, represents
    an increase of approximately 61 per cent. in the issued share capital of the
    Company. The Placing Shares, assuming the maximum number of Placing Shares
    are issued, will represent approximately 37.6 per cent. of the enlarged
    share capital following the fund raising;


  • Application will be made to the London Stock Exchange for the Placing
    Shares to be admitted to trading on AIM. Subject to First Admission, it is
    expected that dealings in the First Placing Shares will commence on or
    around 30 March 2006. Subject to Second Admission, it is expected that
    dealings in the Second Placing Shares will commence on or around 31 March
    2006;


  • The Placing is subject to, inter alia, the approval of Shareholders.  An
    Extraordinary General Meeting has been convened for 29 March 2006;


  • The Placing Price of 79p represents a discount of approximately 5.4 per
    cent. to the closing middle market price of an Ordinary Share on 3 March
    2006;


  • The net proceeds of the Placing (approximately £7.4 million) will be
    utilised to develop the existing Progeny(R) company portfolio and establish
    new Progeny(R) companies from the pipeline of opportunities under
    development;


  • The Placing will be in two tranches to protect the Company's VCT and EIS
    status;


  • Collins Stewart is acting as the Company's nominated adviser and broker.
    Mulier Capital has also been engaged to assist with the fundraising;


  • Mulier Capital is taking a 2.23% stake in ANGLE through participating in
    the Placing on its own account, subscribing for 605,749 Placing Shares at
    the Placing Price; and


  • In addition, Mulier Capital will apply part of its commission to acquire a
    further 0.74% stake of the enlarged share capital.



Andrew Newland, Chief Executive of ANGLE, said:


'We are delighted with the response from investors to this Placing. It is
particularly pleasing that the Placing has been supported by existing and new
institutional shareholders, together with our staff.


The Placing should strengthen our ability to deliver returns from the
commercialisation of intellectual property both from our existing Progeny(R)
company portfolio and from new Progeny(R) companies.'


Dr Erling Refsum, Director of Mulier Capital, said:


'We are pleased with the quality of the investors that have participated in this
fund raising.  We were also impressed with the value of the existing Progeny(R)
companies and the developing pipeline.  Novocellus and Geomerics, in particular,
have the potential to revolutionise the IVF and games graphics markets
respectively.'



For further information


ANGLE plc                                                       [phone]
Andrew Newland, Chief Executive
Ian Griffiths, Finance Director

Buchanan Communications                                         [phone]
Richard Darby, Suzanne Brocks, James Strong, Amy Rajendran



Note to editors:


About ANGLE


Founded in 1994, ANGLE is an international venture management and consulting
company focusing on the commercialisation of technology and the development of
technology-based industry. ANGLE creates, develops and advises technology
businesses on its own behalf and for its clients.  ANGLE operates from offices
in the UK, the US and the Middle East.


ANGLE is listed on AIM (AGL.L); further information can be found at
www.angleplc.com



Introduction


Background to and Reasons for the Placing

As indicated in the interim results for the period ended 31 October 2005, which
were announced on 24 January 2006, the Company has identified a wide range of
intellectual property (IP) for potential commercialisation via the Progeny(R)
process.  It is expected that further Progeny(R) companies will be established
before the end of the full financial year on 30 April 2006.


The Company has relationships with many research organisations, a number of
which have led to discussions about strategic, long-term relationships with
ANGLE, and the Directors believe that some of these discussions are progressing
well.


With the net proceeds of the Placing, the Directors intend to maintain the
momentum of the business developing the existing Progeny(R) company portfolio
and establishing new Progeny(R) companies from the pipeline of opportunities
under development.


ANGLE's Progeny(R) process is well defined and ANGLE's business is scaleable.
The net proceeds of the Placing should strengthen ANGLE's ability to deliver
returns from the commercialisation of intellectual property both from its
existing Progeny(R) company portfolio and from new Progeny(R) companies.


The Directors believe that raising finance by way of the Placing is the most
appropriate method of funding the Company at the present time.  A general offer
to Shareholders by way of rights or other pre-emptive issue is not considered
appropriate at this stage of the Company's development given its size, the
current shareholder structure and taking into account timing and cost
considerations.

Extraordinary General Meeting

An Extraordinary General Meeting of the Company is to be held at Surrey
Technology Centre, The Surrey Research Park, Guildford GU2 7YG on 29 March 2006
at 11.00 a.m. At this meeting, resolutions will be proposed to:

•         increase the authorised share capital of the Company from £4,000,000
to £5,000,000;

•         authorise the Directors, for the purposes of section 80 of the Act, to
allot the Placing Shares and the Mulier Capital Subscription Shares and to allow
additional allotments of equity securities equivalent to one-third of the
Company's enlarged share capital following the fund raising; and

•         disapply statutory pre-emption rights in relation to (a), inter alia,
fractional entitlements and to deal with certain overseas securities law issues,
(b) the issue of the Placing Shares and the Mulier Capital Subscription Shares,
and (c) further issues of Ordinary Shares for cash up to a maximum of 10 per
cent. of the enlarged share capital following the fund raising.

Availability

Copies of the placing document are available free of charge from the Company's
registered office during normal business hours on any weekday (excluding public
holidays) and will remain available for at least one month from the date of this
document.

Recommendation

The Directors of the Company consider the terms of the Placing to be in the best
interests of the Company and its shareholders as a whole.  Accordingly, the
Directors of the Company unanimously recommend Shareholders to vote in favour of
the Resolutions to be proposed at the Extraordinary General Meeting, as they
intend to do in respect of their own beneficial holdings of Ordinary Shares
amounting, in aggregate, to approximately 44.4 per cent. of the existing issued
share capital of the Company.






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