Placing Update

RNS Number : 4415O

FastForward Innovations Limited

08 February 2016

 

For immediate release

8 February 2016

FastForward Innovations Limited

("FastForward" or the "Company")

Placing Update

On 28 January 2016 the Company announced that it had agreed to raise US$8 million by way of issue of 37,426,901 new shares ("Placing Shares") to certain private investors (the "Placing"), with subscription funds due to be received by the Company on 5 February 2016, and trading of the Placing Shares on AIM expected to commence at 8.00 a.m. on 11 February 2016.

The Company has now received US$7 million. US$1 million is outstanding from a remaining overseas investor whose remittance is still being processed. The Company has deferred closure of the Placing to include the balance of US$1 million  which is expected to be by no later than 5.00 p.m. on 12 February 2016, with admission of the Placing Shares and dealing expected to commence on AIM at 8.00 a.m. on 18 February 2016. The Company will update the market once this outstanding amount has been received.

For further information please visit www.fstfwd.co or contact:

James Biddle/ Michael Cornish (Nomad) Beaumont Cornish Limited Tel: [phone] Peterhouse Corporate Finance Limited Guy Miller/ Lucy Williams Tel: [phone]

Elysium Fund Management Limited PO Box 650 1st Floor Royal Chambers St Peter Port Guernsey GY1 3JX Tel: [phone] Fax: [phone] e-mail: [e-mail]

CAUTIONARY STATEMENT

The AIM Market of London Stock Exchange plc does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding potential values, the future plans and objectives of FastForward Innovations Limited. There can be no assurance that such statements will prove to be accurate, achievable or recognisable in the near term.

Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. FastForward Innovations Limited assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

 

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