MSW Technology PLC
23 November 1999
MSW TECHNOLOGY PLC ('The Company')
As previously announced, it has become clear to the Directors that it is
necessary for the Company to make arrangements to raise further funds before
this calendar year-end in order to have sufficient working capital for its
ongoing requirements.
The Company therefore announces that arrangements are in hand for a Rights
Issue of Units, each comprising 2 new Ordinary Shares and 1 Warrant, on the
basis of 1 Unit at 80p for every 4 shares held on the record date. The
Warrants will be exercisable into Ordinary Shares between 2000 and 2001 on the
basis of 1 Ordinary Share at 78p for each Warrant held, and will be detachable
following payment in full for the new Ordinary Shares.
It is expected that a circular will be posted to shareholders on 29 November,
1999 containing notice of an EGM to be held on 16 December, 1999.
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