Completion of Subscription

RNS Number : 6569M

Eleco PLC

17 July 2014

 



ELECO plc

(the "Company")

Completion of Subscription of Ordinary Shares

Eleco announces that following acceptance of a final subscription in respect of 2,500 ordinary shares of 10p each ("ordinary shares"), the final number of ordinary shares subscribed by shareholders pursuant to the Subscription Issue announced on 23 June 2014, amounted to 13,208,888 ordinary shares and that following admission of these shares to trading on AIM ("Admission"), the issued share capital of Eleco will consist of 73,867,127  ordinary shares.  The Subscription price was 20.5p per share and the total amount raised by the Subscription Issue was £2.74 million, less costs of approximately £0.26 million.  The middle market price of Eleco ordinary shares on 16 July, 2014 was 20p per share and the market capitalisation of Eleco was £14.78 million.

Application has been made for the 2,500 ordinary shares referred to above to be admitted to trading on AIM and it is expected that Admission will occur at 8.00 a.m. on 22 July 2014. Thereafter, the number of issued ordinary shares of Eleco totalling 73,867,127 shares must 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 Financial Conduct Authority's Disclosure and Transparency Rules.

Enquiries:

For further information please contact:
ELECO plc	http://www.eleco.com
John Ketteley, Executive Chairman	Tel: [phone]
Peckwater PR
Tarquin Edwards	Tel: [phone]
Cenkos Securities plc
Nicholas Wells	Tel: [phone]

 

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