Result of General Meeting and Open Offer

RNS Number : 7376E

Touchstar PLC

13 February 2018

 

13 February 2018

Touchstar plc

(AIM: TST)

Result of General Meeting and Open Offer

Touchstar plc ("Touchstar" or the "Company"), suppliers of mobile data computing solutions and managed services to a variety of industrial sectors, announces that at the General Meeting of the Company held today, all resolutions put to shareholders were duly passed.  Accordingly, the Conditional Placing and Open Offer announced on 17 January 2018 are expected to complete, conditional on Admission, on 14 February 2018.

The total amount subscribed by investors pursuant to the Conditional Placing and the Open Offer is £921,292.20 (before expenses) comprising:

·     the Conditional Subscription of 639,158 New Ordinary Shares at 60 pence per share raising £383,494.80 (before expenses); and

·     the issue of 896,329 New Ordinary Shares at 60 pence per share to Qualifying Shareholders pursuant to the Open Offer raising £537,797.40 (before expenses)

Taken together, the Conditional Subscription and Open Offer will result in the allotment of a total of 1,535,487 New Ordinary Shares.

Application for admission to trading on AIM of the 1,535,487 New Ordinary Shares being issued pursuant to the Conditional Placing and Open Offer has been made and admission is expected to take place on 14 February 2018.  The New Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue.

In accordance with the provisions of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the Company confirms that, following these issues, its issued share capital will comprise 8,475,077 Ordinary Shares of 5p each.  All of these Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in Treasury.  The total number of voting rights in the Company will therefore be 8,475,077 on Admission. This figure may 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 Disclosure Guidance and Transparency Rules.

This announcement should be read in conjunction with the full text of the Circular posted to Shareholders on 17 January 2018, copies of which are available on the Company's website at www.touchstarplc.com.  Capitalised terms in this announcement have the same meaning as given in the Circular.

This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Contacts:
Touchstar Plc	www.touchstarplc.com
Mark Hardy, Chief Executive Officer	[phone]
WH Ireland Limited (Nominated Adviser and Broker)	www.whirelandcb.com
Mike Coe / Ed Allsopp	[phone]

 

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