Business
Placing and Notice of General
Placing and Notice of General.
About this update from Science Group Plc
[{"type":"text","content":"\n RNS Number : 0842M Sagentia Group PLC 18 May 2010 \n \n\nSagentia Group plc\n \n(\"Sagentia\" or the \"Company\")\n \nPlacing of new Ordinary Shares and Trading Update\n \n \nSagentia Group plc, a technology and product development business servicing niche markets in the medical, consumer and industrial sectors, is pleased to announce that it proposes to raise £8.0 million (before expenses) through a placing (the \"Placing\") of 20,000,000 new Ordinary Shares of 1p each (the \"Placing Shares\") at a price of 40p per share (the \"Placing Price\"). \n \nThe Placing Price represents a premium of approximately 3.2 per cent. to the closing mid-market price of 38.75p per Existing Ordinary Share on 17 May 2010, being the last dealing day prior to the date of this announcement. The Placing Shares will represent approximately 47.9 per cent. of the Enlarged Issued Share Capital. Following Admission, the Company will have 41,723,595 Ordinary Shares in issue.\n \nThe Placing Shares have been conditionally placed by Arbuthnot Securities Limited with institutional and other investors, including the Company's Chairman, Martyn Ratcliffe and David Courtley, a non-executive Director of the Company. A circular will today be posted to Shareholders containing further details of the Placing and a Notice of General Meeting to be held on 4 June 2010. Subject, inter alia, to the passing of the Resolutions at the General Meeting, Admission and dealings in the Placing Shares are expected to commence on AIM at 8.00 a.m. on 7 June 2010.\n \nThe Company has received irrevocable undertakings to vote in favour of the Resolutions from the Directors and certain other Shareholders representing approximately 60.5 per cent. of the Company's current issued share capital.\n \nThe Placing is intended to strengthen the Company's balance sheet and enable it to invest in acquisition opportunities as and when they become available. \n \nFor further information, please contact:\n \n\n\n\n\nSagentia Group plc\n\n\n\n\n\n\n\nMartyn Ratcliffe, Chairman \n\n\nTel: +44 1223 875 200\n\n\n\n\nBrent Hudson, CEO\n\n\n\n\n\n\n\nGuy McCarthy, CFO\n \n\n\n\n\n\n\n\nArbuthnot Securities Limited\n\n\n\n\n\n\n\nNick Tulloch/Paul Gillam\n\n\nTel: +44 20 7012 2000\n\n\n\n\n \n&nbs...