Result of Open Offer & Total Fundraising of £14.4m

RNS Number : 1139V

Spark Ventures PLC

05 August 2015

 

SPARK Ventures plc

5 August 2015

Result of Open Offer Produces Total Fundraising of £14.4m

The Board of SPARK Ventures plc ("SPARK" or the "Company"), is pleased to announce the results of the Open Offer, details of which were announced on 21 July 2015.

Under the Open Offer, valid applications have been received from Qualifying Shareholders in respect of 54,816 Open Offer Shares, including applications under the Excess Application Facility, representing 15.7 per cent. of the Open Offer Shares.

SPARK has therefore raised approximately £0.5 million pursuant to the Open Offer, and  total aggregate gross proceeds of £10.6 million pursuant to the Fundraising. The total funds raised, including £3.8m raised via the asset swaps, was therefore £14.4m.

The Fundraising remains conditional upon the passing of the Resolutions at the General Meeting of the Company to be held at 10.00 a.m. tomorrow, 6 August 2015.

For further information, please contact:

SPARK Ventures plc	David Potter/ Andrew Betton	07540 725 100
Gresham House plc	Anthony Dalwood	020 3837 6272
finnCap	Matt Goode/ Emily Watts	020 7220 0500
Liberum	Peter Tracey/ Neil Elliot/ Clayton Bush	020 3100 2000
Attila Consultants	Charles Cook/ Sorrel Davies	020 7947 4489 or 07710 910563

 

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