Business
Placing of shares
Placing of shares.
About this update from Softcat Plc
[{"type":"text","content":"\n Screen Technology Group plc\n01 December 2006\n\n\n\nFor Immediate Release 1 December 2006\n\n\n Screen Technology Group plc\n\nPlacing of 2,500,000 new ordinary shares at 60p per share to raise £1.5million\nNew customer order\n\nScreen Technology Group plc ('Screen Technology' or the 'Company') the designer \nand manufacturer of high-resolution, large-screen displays for high ambient\nlight environments is pleased to announce that Charles Stanley Securities has\nconditionally placed 2,500,000 new ordinary shares of 5p each ('New Ordinary\nShares') at 60 pence per share to raise £1.5 million before expenses (£1.4\nmillion net of costs) with certain institutional and other investors (the\n'Placing'). The proceeds of the Placing will be invested in the Company's\nproduction facilities to accelerate growth in the business.\n\nScreen Technology is also pleased to announce that Ashingo Plc ('Ashingo') has \nplaced an order for modular display screens and ancillary equipment. Ashingo is\na supplier of display equipment and content for shopping malls and other public\nareas. Screen Technology will supply certain ancillary display equipment,\nwhich will be delivered in the current financial year and during 2007 is set to\ndeliver 10 large modular displays, each measuring over four square metres and\nconsisting of a 4x3 array of modules comprising 48 ITrans tiles. The first\nmodular display is expected to be delivered in April 2007. The Company\nanticipates that these will be some of the first modular displays produced from\nScreen Technology's new high-speed facilities which are expected to commence\nproduction in January 2007.\n\nThe Placing represents approximately 7.7 per cent. of the existing issued share \ncapital of the Company. The New Ordinary Shares will rank pari passu with the \nexisting ordinary shares. The Placing is conditional on admission of the New\nOrdinary Shares to trading on AIM ('Admission') which is expected to take place,\nand dealings are expected to commence, on 6 December 2006. Following Admission,\nthe enlarged issued share capital of the Company will be 35,108,970 ordinary\nshares.\n\nThe placees include MTI Partners Ltd ('MTI'), which has subscribed for 597,973\nnew shares. Following the Placing and upon Admission MTI will own 17,554,484\nordinary shares representing just under 50.0% of the Company's ...