Business
Result of Oversubscribed Placing & TVR
Result of Oversubscribed Placing & TVR.
About this update from Pci-pal Plc
[{"type":"text","content":"\n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.\n \nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 (\"MAR\"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.\n \nPLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\n \n \n12 March 2024\n \n \nPCI-PAL PLC\n(\"PCI Pal\", the \"Company\" or the \"Group\")\n \nResult of Oversubscribed Placing, Related Parties & Total Voting Rights\n \nPCI-PAL PLC (AIM: PCIP), the global cloud provider of secure payment solutions, is pleased to announce that further to the announcement made earlier today regarding the proposed Placing, the Company has raised total gross proceeds of approximately £3.5 million through the issue of 6,250,000 Placing Shares, at a fixed price of 56 pence per Placing Share. The Placing Shares represent approximately 9.5 per cent. of the Company's current issued share capital (excluding shares held in treasury).\n \nJames Barham, Chief Executive Officer, commented:\n \n\"I am delighted by the support shown by investors in this significantly oversubscribed placing. The Company continues to deliver market leading organic revenue growth and our cloud native partner-first strategy has been proven to deliver excellent growth opportunities for the Group.\n \nGiven the strong progress the Company has made over the last five years, whilst also achieving a key milestone of adjusted EBITDA profitability at our recent interims, with this raise we have strengthened our balance sheet whilst also providing a level of additional funds to invest in the business. We will continue to drive the Company forward from its p...