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Keycom PLC (KCO)

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Tuesday 06 July, 2010

Keycom PLC


RNS Number : 8344O
Keycom PLC
06 July 2010

6 July 2010



Keycom plc ("Keycom" or "the Company")




The Board of Keycom is pleased to announce that it has raised £1.9 million through a placing of  96,000,000 ordinary shares of 1p each ("the Placing Shares") at a price of 2p per share ("the Placing").   Application has been made for 81,000,000 of the Placing Shares to be admitted to trading on PLUS.  It is expected that admission of these shares will occur on 7 July 2010.  The balance of 15,000,000 Placing Shares will be issued between the date of this announcement and 30 September 2010 and these  shares will be admitted to trading on PLUS in due course.


Following completion of the Placing, the Company's issued share capital will be 578,243,378 ordinary shares of 1p each.


The proceeds of the placing will be used to provide additional working capital. 


Commenting on the Placing, Rod Matthews, Executive Chairman and CEO of Keycom, said "I am delighted with the response we have received to this fundraising.  The support from our existing shareholders has been very encouraging, especially in this difficult market environment.    The armed forces accommodation share similar attributes to the student and key-worker market and the Company is excited about the continuing development of its customer base into this sector.  With the sound financial footing that this Placing provides we look forward with confidence to the long term prospects for the Company". 




Keycom plc:


Rod Matthews (Executive Chairman and CEO)                                   07775 755 500

Graham Robertson (Finance Director)                                                01785 717 411


Seymour Pierce


Nandita Sahgal                                                                                    020 7107 8000

Tom Sheldon                                                                                       020 7107 8000


This information is provided by RNS
The company news service from the London Stock Exchange

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