Business
Restoration of Listing
Restoration of Listing.
About this update from Softcat Plc
[{"type":"text","content":"\n RNS Number : 1340V Screen Technology Group plc 23 May 2008 \n \n23 May 2008\n\n\nScreen Technology Group plc\n('Screen' or the 'Company')\n\nWorking Capital update and restoration of the Company's shares to trading\n\nPlacing of up to 133,757,617 New Ordinary Shares andOpen Offer of up to 32,909,049 New Ordinary Shares at 0.66 pence per New Ordinary Shareon the basis of 12 Offer Shares for every 13 Existing Ordinary Shares\n\nIssue of £200,000 of Loan Notes\n\nCapital Reorganisation\n\nWaiver from Provisions of Rule 9 of the Takeover Code\n\nScreen Technology Group plc, today update investors regarding the Company's working capital position following the announcement of a proposed Placing, Open Offer and Loan Note issue to raise up to £1.3 million (before expenses) Following this announcement the trading in the Company's shares will be restored.\n\nSummary\n\n\n\nMajor new active investor Scaent Holdings Cooperatie UA\n\n\n\n\n\n£1.3 million of additional funding for the business \n\n\n\n\n\nRestoration of the Company's shares to trading on AIM\n\n\n\n\n\nOpportunity for existing shareholders to take part in the Open Offer. \n\n\n\n\n\nPotential access to various new international markets\n\n\n\n\nTom Jarman, Chief Executive, commented:\n\n 'This is a very important step forward for the Company and I am delighted to welcome Scaent as a major Shareholder and partner. It is clear that Scaent have great ambitions for the Group and the resources to support the business as it achieves success; this can provide the Company with the stability and backing to capitalize on its global opportunities albeit over longer timescale than originally envisaged. Finally, we have been able to maintain good relationships with a number of international marketing and manufacturing partners and are well positioned to implement our highly scaleable business model over the coming year.'\n\n\nEnquiries: \n\n\n\n\n\nScreen Technology Group plc\nTom Jarman\n\n\n\nTel: 01223 559 600\n\n\n\n\nCharles Stanley Securities \nNominated Adviser\nRussell Cook / Carl Holmes \n\n\n\nTel: 020 7149 6000\n\n\n\n\n\n\n \nWorking Capital update and restoration of the Company's shares t...