Additional Listing

RNS Number : 1380N

First Derivatives PLC

07 June 2010

 



First Derivatives plc

("First Derivatives" or "the Company")

Placing of 1.15 million new Ordinary Shares

First Derivatives (AIM: FDP.L, ESM: GYQ.I), a leading provider of software and support services to the financial services and technology industries, is pleased to announce that it has placed 1,150,000 new Ordinary Shares (the "Placing Shares") at 295 pence per share, with certain institutional and other investors (the "Placing") to raise approximately £3.3m after expenses.

The Placing has been undertaken to satisfy strong investor demand following the announcement of the Company's final results for the twelve months ended 28 February 2010 on 24 May 2010.

The net proceeds of the Placing will be used to reduce Company borrowings and to supplement working capital requirements.

The placing price of 295 pence per ordinary shares represents a discount of 0.8 per cent. to the Company's closing mid market price on 4June 2010 of 297.5 pence.

Application has been made for the 1,150,000 Placing Shares to be admitted to trading on AIM and ESM and it is expected that admission will take place on 11 June 2010. The Placing Shares will rank pari passu with the existing Ordinary Shares of the Company and will not rank for the final dividend of 2.75 pence which was announced on 24 May 2010 and marked ex-dividend on 2 June 2010. Following this allotment, the total issued share capital of the Company will increase to 15,500,726 Ordinary Shares.

Brian Conlon, Chief Executive Officer of First Derivatives, commented, "We are delighted to have received this investment from a range of new institutional investors which we see is a vote of confidence in our business model.  The proceeds will be used to continue the expansion of our geographical reach and in growing our range of Delta software products.  The Group continues to perform strongly and we expect to announce details of some significant new clients in the coming weeks."

Enquiries:

First Derivatives plc	Tel.       [phone]
Brian Conlon, Chief Executive Officer
Graham Ferguson, Finance Director
Charles Stanley Securities	Tel.       [phone]
Nominated Adviser & Broker
Russell Cook
Carl Holmes
Goodbody Stockbrokers	Tel.       [phone]
ESM Adviser & Broker
Diane Hodgson
Linda Hickey
Finbarr Griffin
ICIS Limited	Tel.       [phone]
Financial PR
Tom Moriarty
Caroline Evans-Jones
Fiona Conroy
Stakeholder Communications PR - Ireland Carl Whyte John Hart	Tel.       [phone]

About First Derivatives

First Derivatives is a global provider of products and services to the financial services industry. With almost 15 years experience working with leading financial institutions, it continues to deliver technologically advanced, award winning products and services that anticipate and respond to the evolving needs of global capital markets.

First Derivatives currently employs over 450 people worldwide and counts many of the world's top investment banks, brokers and hedge funds as its customers. It has operations in London, New York, Stockholm, Shanghai, Singapore, Toronto, Sydney, Dublin, Newry and Hong Kong.

Delta is a comprehensive suite of high performance real-time trading, risk management and enterprise market data products. Flagship trading products include Delta Algo and Delta Stream which are used in high volume, low latency environments while Delta Replay and Backtest are the products of choice in the hunt for profitable strategies and post trade

analysis.

For further information please visit www.firstderivatives.com

 

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