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About this update from Accsys Technologies Plc
[{"type":"text","content":"\n RNS Number : 7383D Accsys Technologies PLC 08 December 2009 \n \n\n\n\nNOT FOR RELEASE, DISTRIBUTION OR TRANSMISSION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA, NEW ZEALAND OR JAPAN\n\n\n8 December 2009 AIM: AXS NYSE Euronext Amsterdam: AXS\n\n\nAccsys Technologies PLC (\"Accsys\" or \"the Company\")\n\nAccsys to raise €17 million through the issue of new Ordinary Shares\nAccsys today announces that it proposes to raise approximately €17 million before expenses by means of a subscription by institutional investors and certain Directors and senior managers of the Company for 34,744,134 new ordinary shares of €0.01 each in the capital of the Company (the \"new Ordinary Shares\") (the \"Subscription\") at a price of €0.4865 per share (the \"Subscription Price\").\nThe Subscription Price is the volume weighted average trading price of the Company's ordinary shares for the two weeks ended 4 December 2009 and represents a discount of 2.7 per cent. to the closing market price of an Accsys share on 7 December 2009 of €0.50 per share. The new Ordinary Shares will, when issued, rank pari passu with the existing Ordinary Shares. \nOn completion of the Subscription, the Company will also issue a further 8,221,994 ordinary shares (the \"Loan Shares\") at the Subscription Price to discharge the Company's obligations under the convertible loan (€4,000,000) referred to in the Company's Half Yearly Report announced on 17 November 2009. The convertible loan holder has also participated in the Subscription and has waived its option, announced on 17 November 2009, to subscribe for an additional €2,000,000 convertible loan. \nThe new Ordinary Shares and the Loan Shares will together represent approximately 21.6% of the enlarged issued share capital of the Company.\nThe Subscription is conditional on, inter alia, Accsys shareholders approving the issue of the new Ordinary Shares and the Loan ...