Business
Fundraising
Fundraising.
About this update from Hardide Plc
[{"type":"text","content":"\n \nRNS Number : 7718U Hardide PLC 27 October 2017 \n\nTHIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nFURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF HARDIDE PLC IN ANY JURISDICTION IN WHICH ANY SUCH OFFER, ISSUE OR SOLICITATION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION\n \n27 October 2017\nHardide plc\n(\"Hardide\" or the \"Company\")\nFundraising to raise £2.54 million\n \nHardide plc (AIM: HDD), the provider of advanced surface coating technology, is pleased to announce that the Company has conditionally raised a total of £2.54 million (before expenses) via an oversubscribed fundraising (the \"Fundraising\") at a price of 1.7 pence per new ordinary shares of 0.1p each (\"Ordinary Shares\").\nThe Fundraising will enable the Company to make a number of capital investments in order to create capacity to take advantage of the demand expected by management.\nThe Fundraising is taking place pursuant to existing authorities established at the Company's last Annual General Meeting on 20 February 2017 and comprises two tranches, being (i) the \"Initial Fundraising\" of the Placing and the Initial Subscription (each as defined below) to raise a total of £1.72 million subject to customary conditions including admission to trading on AIM of the relevant new Ordinary Shares becoming effective, and (ii) the \"Deferred Fundraising\" to raise £0.82 million, subject principally to the Company having, within a period of five months, received advance assurance from HM Revenue & Customs (\"HMRC\") that this additional sum will be eligible for EIS and/or VCT tax relief (the \"Tax Clearance\") as well as other customary conditions.\nFurther information on the Fundraising, including its conditionality, is set out below. \nHighlights\n· The Fundraising c...