Business
Proposed Placing and Subscription
Proposed Placing and Subscription.
About this update from Image Scan Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 6627E Image Scan Holdings PLC 10 May 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, NEW ZEALAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN IMAGE SCAN HOLDINGS PLC OR ANY OTHER ENTITY IN ANY JURISDICTION.\nThis announcement contains inside information\nImage Scan Holdings plc(\"Image Scan\" or the \"Company\")\nProposed Accelerated Bookbuild and Subscription to raise approximately £525,000\nImage Scan Holdings plc (AIM: IGE), specialists in the field of X-ray imaging for the security and industrial inspection markets, are pleased to announce a proposed fundraising of approximately £525,000 (before expenses), by way of the placing of 9,500,000 new ordinary shares of 1 pence each at a price of 5.25 pence per share (the \"Placing Shares\") (the \"Placing\") with a number of new as well as existing institutional investors, as well by way of the subscription of 500,000 new ordinary shares of 1 pence each at the Placing Price (the \"Subscription Shares\") by Mr William Mawer, Chairman and Chief Executive Officer of the Company (the \"Subscription\").\nThe Placing Shares and the Subscription Shares to be issued pursuant to the proposed Placing and Subscription are expected to represent approximately 8 per cent. of the issued share capital of the Company immediately following Admission.\nThe Placing Shares are being offered by way of an accelerated bookbuild, which will be launched immediately following this announcement. Cantor Fitzgerald will be acting as sole bookrunner in connection with the Placing. The Placing is not underwritten.\nThe Placing is subject to the terms and conditions set out in the appendix (the \"Appendix\") to this announcement (which forms part of this announcement, such announcement and the Appendix together being, this \"Announcement\").\nIt is expected that the implem...