Business
Cash Placing
Cash Placing.
About this update from Gattaca Plc
[{"type":"text","content":"\n \nRNS Number : 4821O Matchtech Group PLC 20 September 2013 \n \n\n20 September 2013\n \nMatchtech Group plc (\"Matchtech\" or the \"Company\" or the \"Group\")\n \nCash Placing\n \nMatchtech Group plc (AIM:MTEC), one of the UK's leaders in specialist engineering, technology, professional staffing and employability & skills recruitment, today announces a placing of 1,050,000 new ordinary shares of 1 pence each (the \"Placing Shares\") at a price of 405 pence per new ordinary share (the \"Placing Price\") raising £4.3m (approximately £4.1m net of expenses) (the \"Placing\"). The Placing Shares will represent approximately 4.3% of the enlarged issued share capital. The Placing has been fully underwritten by Numis Securities Limited.\n \nThe proceeds of the Placing will be used to repay the drawdown on the Group's existing lending facility which was used to fund the acquisition of Application Services Limited, trading as Provanis, for a total cash consideration of £4.0m, as announced on 6 September 2013.\n \nThe Placing Price represents a discount of approximately 8.7% to the middle market price of 443.5 pence per ordinary share at the close of business on 19 September 2013, being the latest practicable date prior to the date of this Announcement. The Placing Shares will, on Admission, rank pari passu in all respects with the existing ordinary shares and will have the right to receive all dividends and other distributions thereafter declared, made or paid in respect of the issued ordinary shares.\n \nApplication has been made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. It is expected that admission of the Placing Shares to AIM will become effective, and dealings in the Placing Shares will commence on AIM, at 8.00am on 25 September 2013.\n \n \nFor further information please contact:\n \nMatchtech Group plc 01489 898 989\nAdrian Gunn, Chief Executive Officer\nTony Dyer, Chief Financial Officer\n \nMHP Communications &...