Business
Placing and trading update
Placing and trading update.
About this update from Kazera Global Plc
[{"type":"text","content":"\n Worthington Nicholls Group plc\n10 November 2006\n\n\n\n Worthington Nicholls Group\n\n Placing of 6,666,667 new Ordinary Shares at 90 pence per share to raise\n £6,000,000\n Trading update\n Notice of Extraordinary General Meeting\n\n Nominated Adviser and Broker:\n Corporate Synergy Plc\n\n\nWorthington Nicholls Group plc ('Worthington Nicholls' or 'the Group'), one of\nthe UK's leading independent installers of air conditioning, heating,\nventilation and chilled water systems, announces today that the Group has,\nsubject to shareholder approval, raised £6 million, before expenses, by way of a\nplacing of 6,666,667 new Ordinary Shares at 90p per new Ordinary Share, in order\nto increase Group working capital and provide further funding for identified\nacquisitions.\n\n\nHighlights:\n \n • raised £6 million with institutions at 90p\n\n • financial results for the year ended 30 September 2006 will be in line\n with market expectations\n\n • the Group's quotation register is significantly ahead when compared to the\n same time last year\n\n • although Project Air will not have a material impact on the results of the\n Group for the year ended 30 September 2006, it has performed ahead of\n Directors expectations for the 3 months since acquisition\n\n • further acquisitions have been identified which the Directors believe\n would impact positively on Group results going forward\n\n\nMark Worthington, Chief Executive of Worthington Nicholls, said:\n\n'With £6 million of new funds secured we will be able to accelerate our growth,\nparticularly if we can deliver the attractive acquisitions that have been\nidentified.'\n\n\nPlacing statistics:\n\nPlacing Price 90p\n\nNumber of Ordinary Shares in issue prior to the Placing 66,165,049\n\nNumber of Placing Shares to be issued pursuant to the Placing 6,666,667\n\nNumber of Ordinary Shares in issue following the Placing 72,831,716\n\nPercentage of enlarged issued share capital represented by the Placing Shares 9.15%\n\nApproximate proceeds of the Placing available to the Company (net of expenses) £5.7 million\nMarket capitalisation following the Placing at the Placing Price £65.5 million\n\n\n\nEnquiries:\n\nWorthington Nicholls 0870 609 1829\nMark Worthington, Chief Executive\nDavid Levis, Corporate Director\n\nGresham PR Ltd 020 7404 9000\nNeil Boom / Tanya Feness\n\nCo...