Rotala PLC
25 April 2007
Rotala plc
('Rotala' or 'the Company')
Placing of new shares with warrants attaching to raise £0.5 million
The Board of Rotala is pleased to announce that it has raised £0.5 million
(before expenses) in a placing with investors ('the Placing'). The funds will
enable Rotala to continue with its planned expansion strategy and will provide
the necessary working capital resources to implement a number of new contracts
recently awarded to the Company and announced on 27th February 2007.
Details of the Placing
Rotala has conditionally placed 16,666,669 new ordinary shares of 1p each ('New
Ordinary Shares') at 3.0 pence each ('the Placing Price') to raise £500,000
(before expenses) representing approximately 4.3 per cent. of the enlarged share
capital in the Company. The placing is being arranged by Ludgate Investments
Limited with its clients.
In addition, the Company has issued to the subscribers of the New Ordinary
Shares an aggregate of 1,666,663 warrants to subscribe for ordinary shares of 1p
each in the Company at 3 pence per share at any time up to 30 November 2009 (the
'Warrants').
The Company has today made application for the New Ordinary Shares to be
admitted to trading on AIM. Trading in the New Ordinary Shares is anticipated to
take place on 1 May 2007.
Before the Placing, the issued ordinary share capital amounted to 367,691,027
ordinary shares. Following admission the enlarged share capital will be
384,357,696 ordinary shares.
Certain directors have participated in the Placing to the extent of 9,666,667
placing shares at the Placing Price, equivalent to a subscription of £290,000.
Details of the placing commitments and warrants to be issued and the interests
of the directors and their connected persons in the ordinary share capital of
the Company following the Placing are set out below:
Following the Placing
Placing Shares at 3.0p Warrants Shares held %
per share (excluding options)
John Gunn * 8,000,000 800,000 85,093,119 22.1
Geoffrey Flight** 1,666,667 166,666 24,758,334 6.4
* includes Mrs R. S. Gunn, Wengen Pension Plan and the Gunn Trusts
** includes the Flight Pension Trust of which Mr Flight is a beneficiary.
Contacts:
John Gunn, Chairman Rotala plc 020 7236 6236
Kim Taylor, CEO Rotala plc 020 7236 6236
David Seal/Rhod Cruwys. Blue Oar Securities Plc 020 7448 4400
This information is provided by RNS
The company news service from the London Stock Exchange
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