Business
Proposed Firm Placing, Placing and Open Offer
Proposed Firm Placing, Placing and Open Offer.
About this update from Bango Plc
[{"type":"text","content":"\n \nRNS Number : 7866S Bango PLC 29 September 2014 \n \n\n29 September 2014 \nEmbargoed until 07:00\n \nTHIS ANNOUNCEMENT IS RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA, NEW ZEALAND AND THE REPUBLIC OF IRELAND OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL\n \n \nBANGO plc\n(\"Bango\")\n \nProposed Firm Placing, Placing and Open Offer of up to 6,250,000 New Ordinary Shares\n \nto raise up to £6.0 million (gross)\n \nand\n \nNotice of General Meeting\n \nOn 29 September 2014, Bango (AIM: BGO), the mobile web payments and analytics company, announced a conditional Firm Placing, Placing and Open Offer of up to 6,250,000 New Ordinary Shares at 96 pence per share to raise up to £6.0 million before expenses. \n \nUnder the Fundraising, the Board is proposing to issue 4,173,650 New Ordinary Shares through the Firm Placing (on a non-pre-emptive basis) and 2,076,350 New Ordinary Shares through the Placing and Open Offer.\n \nThe Board feels that existing Shareholders in Bango should, where it is practical for them to do so, have the opportunity to participate in an issue of New Ordinary Shares at the Issue Price and so is offering Qualifying Shareholders the opportunity to participate in the Open Offer to subscribe for an aggregate of up to 2,076,350 New Ordinary Shares, to raise gross proceeds of up to approximately £1.99 million.\n \nThe Fundraising is conditional, amongst other things, on the passing of the Resolutions by Shareholders at the General Meeting to be held at the offices of the Company at 5 Westbrook Centre, Cambridge, CB4 1YG at 11.00 a.m. on 16 October 2014. If the Resolutions are passed, the New Ordinary Shares will be allotted after the General Meeting. Admission is expected to occur no later than 8.00 a.m. on 17 October 2014 or such later time and/or date(s) as Cenkos Securities and the Company may agree. None of the Firm Placing, the Placing or the Open Offer will be underwritten.\n \nThe Circular will be posted today to Shareholders and sets out in more detail the background to and reasons for the Fundraising and its terms.&nbs...