Business
Placing and Subscription and Notice of GM
Placing and Subscription and Notice of GM.
About this update from Image Scan Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 1987P Image Scan Holdings PLC 14 August 2014 \n\n14 August 2014\n \nIMAGE SCAN HOLDINGS PLC\n \n(\"Image Scan\" or the \"Company\")\n \nSuccessful Placing and Subscription to raise £725,000\nGrant of Options\nPosting of Circular to Shareholders and\nNotice of General Meeting\n \nImage Scan (AIM:IGE), the AIM-listed specialist supplier of x-ray screening systems to the security and industrial inspection markets, is pleased to announce that it has conditionally raised £725,000 (before expenses) by way of a placing of 34,350,000 new ordinary shares of 1 pence each in the Company (\"Ordinary Shares\") at a placing price of 2 pence per Ordinary Share (the \"Placing Shares\")(the \"Placing\") to a number of new as well as existing institutional investors and by way of a subscription for 1,900,000 Ordinary Shares (\"Subscription Shares\")(the \"Subscription\") by certain directors and company officers and other officers of the Company on similar terms to the Placing.\n \nHighlights\n \n· Placing and Subscription for 36,250,000 Ordinary Shares raising gross proceeds of £725,000.\n \n· Placing price of 2 pence per Ordinary Share (the \"Placing Price\") represents a 15.8 per cent. discount to the closing price of 2.375 pence per Ordinary Share on 13 August 2014.\n \n· 1,850,000 of the Placing Shares (the \"Firm Placing Shares\") are expected to be admitted to trading on AIM on 14 August 2014, whilst 34,400,000 of the Placing Shares and the Subscription Shares combined, being conditional, inter alia, on shareholder approval, (the \"Conditional Shares\") are expected to be admitted to trading on AIM on 9 September 2014.\n \n· Proceeds from the Placing will enable the Company to accelerate its internal R&D activity, with specific focus on upgrading and expanding its range of portable x-ray security systems and partnering to develop a new range of conveyor x-ray systems for security checkpoints, and growing its sales team.\n \n· A general meeting of the Company (the \"General Meeting\") is to be held at the offices of Cantor Fitzgerald Europe, One Churchill Place, Canary Wharf, London E14 5RB at 10.00 a.m. on 8 Septemb...