Subscription to raise ?404,000

RNS Number : 7139F

RTC Group PLC

03 May 2011

 



RTC Group plc (the "Company")

Subscription to raise £404,000

The Company is pleased to announce that it has raised £404,000 through a subscription of 4,489,062 ordinary shares of 1p each ("New Shares") at a price of 9p per New Share (the "Subscription"). The Company intends to use the net proceeds of the Subscription for working capital and general corporate purposes and in accordance with its business strategy.

Certain Directors and senior management of the Company have subscribed for New Shares under the Subscription and the resultant holdings of the Directors are set out below. In addition, John T White has subscribed for 2,000,000 New Shares under the Subscription and will hold 14.80 per cent of the enlarged issued share capital following the Subscription.

Name	New Shares subscribed for under the Subscription	Shares held following the Subscription	% of enlarged issued share capital following the Subscription
Director
Bill Douie	689,092	2,074,698	15.35
Andrew Pendlebury	500,000	1,115,175	8.25
Senior Managers
Andrew Bailey	333,330	589,388	4.36
Gary Hewett	333,330	498,130	3.69
Bryn Clarke	111,110	111,110	0.82
Michael Ebbitt	111,110	111,110	0.83
Scott Bulloch	111,110	111,887	0.83
Lisa Bacon	33,330	33,330	0.25
Employees
Chris O'Connor	55,550	55,550	0.41
Christian Addison	11,110	11,110	0.08
Elizabeth Trimmings	55,550	59,195	0.44
Mark Lamb	111,110	111,110	0.82
Paul Dickens	22,220	22,220	0.16
Steve Harrhy	11,110	11,110	0.08
No Previous Involvement
John T White	2,000,000	2,000,000	14.80

The Subscription of New Shares by the Directors and senior management is considered a related party transaction under the AIM Rules. Both Directors of the Company are participating in the Subscription and as a result involved in the transaction as related parties. Therefore the Company's nominated adviser, Evolution Securities Limited, has confirmed that it considers that the terms of the Directors' and senior management participation in the Subscription are fair and reasonable in so far as the Company's shareholders are concerned.

Application will be made for the New Shares to be admitted to trading on AIM and dealings are expected to commence on 6th May 2011. The Ordinary Shares will rank parri passu with existing Ordinary Shares in the Company.

Enquiries:

RTC Group Plc                                                                   Tel: [phone]

Bill Douie, Executive Chairman

Andy Pendlebury, Chief Executive

Evolution Securities Limited                                              Tel: [phone]

Jeremy Ellis / Chris Clarke

 

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