Business
Placing, Open Offer, Acquisition and GM Notice
Placing, Open Offer, Acquisition and GM Notice.
About this update from Oxford Metrics Plc
[{"type":"text","content":"\n \nRNS Number : 3497I OMG PLC 01 July 2013 \n \n\n \nTHIS ANNOUNCEMENT IS RESTRICTED AND IT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR NEW ZEALAND OR ANY OTHER STATE OR JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL\n \n2 July 2013\nOMG plc\n(\"OMG\", the \"Group\" or the \"Company\")\n \nPlacing and Open Offer to raise up to £9m\n \n- Acquisition of Mayrise Limited -\n- Accelerate investment in OMG Life growth to exploit Autographer market opportunity -\n \nOMG plc, (LSE: OMG), the technology group providing image understanding products for the entertainment, defence, life science and engineering industries, is pleased to announce a share issue to raise up to approximately £9.0 million (before expenses) through the issue of up to 27,586,208 New Ordinary Shares by way of a Placing at 29 pence per Ordinary Share to certain institutional investors and Directors through N+1 Singer and up to a further 3,473,616 New Ordinary Shares to be issued through an Open Offer at 29 pence per New Ordinary Share. The Directors of the business will subscribe £205,000 to the Placing.\n \nThe proceeds of the Placing will be used for two purposes:\n \n· Primary purpose is to facilitate the acquisition of Mayrise Services Limited (\"Mayrise\"), a provider of\nhighways asset management software products and services to the local authorities and Utilities in the\nUK, for £6m.\n· Secondary purpose is to provide OMG Life with £2m of funding to accelerate the exploitation of\nopportunities in the Autographer market.\n \nTo the extent that further funds are raised via the non-underwritten Open Offer, these will be used to exploit opportunities in the Autographer market.\n \nThe total amount that the Company could raise under the Fundraising is approximately £9.0 million (before expenses), assuming all the Open Offer Entitlements are taken up. The Placing is being fully underwritten by N+1 Singer on, and subject to, the terms of the Placing Agreement. The Open Offer is not underwritten, and accordingly, as set out below the minimum proceeds under the Fundraising are app...