Rotala PLC
08 February 2006
FOR IMMEDIATE RELEASE
8th February 2006
Rotala plc
('Rotala' or 'the Company')
Update on Placing
Further to the announcement made on 18 January, the Company wishes to update
shareholders and the market on progress made in relation to the proposed cash
placing to raise approximately GBP1,500,000. Following discussions with certain
prospective placees and taking into account the current market spread in the
share price of 1.5p to 2.25p, the Directors expect the placing to be completed
at a price of 1.5p per share (a discount of 20 per cent. to the mid market price
on close of business on 7th February 2006.)
Full details of the placing will be announced once the process has completed,
which is expected to be in early March 2006.
The Directors consider that the placing is necessary to secure the financial
position of the Company going forward and, as previously announced, intend to
underwrite up to GBP600,000 of the placing.
Contacts:
Nick Fox, M: Communications 020 7153 1540/ 07711 727 618
This information is provided by RNS
The company news service from the London Stock Exchange
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