Business
Issue of Equity
Issue of Equity.
About this update from Hardide Plc
[{"type":"text","content":"\n Hardide PLC\n21 December 2005\n\n\n\nPress Release 21 December 2005\n\n\n Hardide Plc ('the Company')\n\n Placing of 6,499,662 Placing Shares at 12.25p per share\n\nHardide plc, the provider of unique surface engineering technology, announces\nthat it has raised £796,209, before expenses, by way of a Placing of 6,499,662\nnew Ordinary Shares at a price of 12.25p per Share.\n\nThe new monies raised in the Placing will fund the establishment of a\nmanufacturing facility in Houston, Texas, USA as mentioned in the Company's\ninterim results announced on 13 December 2005.\n\nThe Company has made application for the new Ordinary Shares to be admitted to\ntrading on AIM and admission is expected to take place on 29 December 2005.\n\nJim Murray-Smith, Chief Executive, said: 'This Placing will enable the Company\nto reach the next stage in its development following our successful admission to\nAIM earlier in the year and the encouraging preliminary results recently\nannounced.\n\n'The funds raised will be used to establish a manufacturing facility in Houston,\nTexas to meet rising order levels and an increase in customer enquiries from the\nUS. Demand for Hardide's product is strong and I am confident that a\nmanufacturing presence in Houston will further promote Hardide to US customers,\nin particular in the oil and gas and aerospace sectors.'\n\n Ends\n\n\nFor further information:\nHardide plc\nJim Murray Smith, Chief Executive Tel: +44 (0) 1869 353 830\[email protected] www.hardide.com\n\n\nSeymour Pierce\nSarah Wharry / Jeremy Porter, Corporate Finance Tel: +44 (0) 20 7107 8000\n\nMedia enquiries:\nAbchurch\nChris Lane / Katherine Murphy Tel: +44 (0) 20 7398 7700\[email protected] www.abchurch-group.com\n \n\n\nNotes to editors\n\nHardide provides and applies tungsten carbide coatings to a wide range of\nengineering components. The Company's patented technology is unique in that it\ncombines both abrasion and corrosion resistant properties in one coating. When\napplied to components, the technology is proven to offer dramatic cost savings\nthrough reduced downtime and extended component life. Customers include leading\ncompanies operating in oil and gas exploration and production, valve and pumps\nmanufacturing and general engineering.\n\nFounded in 2000, Hardide operates three industrial coating facilities ...