Business
Issue of Equity
Issue of Equity.
About this update from Rtc Group Plc
[{"type":"text","content":"\n ATA Group PLC\n30 April 2008\n\n\n ATA Group plc\n ('ATA' or 'the Company')\n\n\n Issue of Equity\n\n\nATA Group plc, a support services group which provides recruitment, training and\nconferencing services, is pleased to announce that it has raised £307,587 via a\nplacing of 820,233 new ordinary shares of 1 pence each (the 'Placing') at 37.5p\nper share (the 'Placing Price'). The Placing Price is based on the average\nmid-market closing price on the three days following the release of the\npreliminary results announcement on 15 April 2008.\n\n\nThe new ordinary shares have been placed with Andrew Pendlebury and Andrew\nBailey, both directors of the Company. The purpose of the Placing is to\nincentivise the executive directors with a material stake in the Company, to\nfurther strengthen the balance sheet of the Company and to show the directors'\nconfidence in the future of the business.\n\nApplication has been made to the London Stock Exchange for the new ordinary\nshares to be issued pursuant to the Placing to be admitted to trading on AIM\n('Admission'). It is expected that Admission will become effective and that\ndealings will commence on 7 May 2008. The new ordinary shares will be issued\nfully paid, rank pari passu in all respects with the existing ordinary shares of\nthe Company and will be issued subject to the memorandum and articles of\nassociation of the Company.\n\n\nThe participation of the executive directors in the Placing is a related party\ntransaction for the purposes of the AIM Rules and accordingly the independent\ndirectors, having consulted with the Company's nominated adviser Evolution\nSecurities, consider that the transaction is fair and reasonable insofar as the\nshareholders are concerned.\n\n\nFollowing the Placing the resultant interests of Andrew Pendlebury and Andrew\nBailey are as follows:\n\n+------------------+------------+-------------------+--------------------+\n|Name |Subscription| Number of Ordinary| Percentage of|\n| | | Shares after the| enlarged issued|\n| | | Placing| share capital after|\n| | | | the Placing|\n+------------------+------------+-------------------+--------------------+\n| | | | |\n+------------------+------------+-------------------+--------------------+\n|Andrew Pendlebury | 615,175| 615,175| 6.82%|\n+------------------+------------+-------------------+------------...