Business
Result of General Meeting and Placing completion
Result of General Meeting and Placing completion.
About this update from Hardide Plc
[{"type":"text","content":"\n \nRNS Number : 1445P Hardide PLC 14 August 2014 \n \n\nHardide plc\n(\"Hardide\" or the \"Company\")\nResult of General Meeting and Completion of Placing\n \nHardide plc, provider of advanced surface-coating technology, confirms that at its General Meeting held earlier today, both resolutions were duly passed.\n \nAccordingly, as set out in the announcement dated 22 July 2014, the Company is pleased to announce that it has the requisite authorities to complete the placing of 167,875,000 new ordinary shares of 0.1 pence each in the capital of the Company (\"Ordinary Shares\") with new and existing shareholders at a price of 1.6 pence per Ordinary Share (the \"Placing Shares\") to raise, in aggregate, £2.7 million before expenses (£2.5 million net of expenses) (the \"Placing\").\n \nThe Company intends to use the net proceeds of the Placing to invest in capacity to meet future projected demand, including an additional coating reactor in the UK which the Board expects will increase available capacity there by approaching 50 per cent., and the creation of a processing facility in North America. \nThe Placing Shares are expected to be admitted to trading on AIM (\"Admission\") no later than 8.00 a.m. on 15 August 2014. Following Admission, the Company will have 1,334,626,304 Ordinary Shares in issue, all with voting rights. The Company does not hold any shares in treasury.\n \nThe above figure of 1,334,626,304 Ordinary Shares may be used by shareholders as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.\n \n \nFor further information please contact:\nHardide plc Tel: +44 (0) 1869 353830\nPhilip Kirkham, CEO \nPeter Davenport, Finance Director\n \nfinnCap ...