Business
Placing & Directors' Dealings
Placing & Directors' Dealings.
About this update from T42 Iot Tracking Solutions Plc
[{"type":"text","content":"\n Traction Technology PLC\n13 August 2007\n\n\nFor Immediate Release 13 August 2007\n\n Traction Technology PLC\n ('Traction' or the 'Company')\n \n Placing and Directors' dealings\n\nThe Company is pleased to announce that it has raised a total of £245,000 by\nmeans of a placing of 875,000 new Ordinary Shares of 3p each at a price of 28p\nper share. Application will be made for the 875,000 new Ordinary Shares issued \ntoday to be admitted to trading on AIM which will rank pari passu with the\nexisting Ordinary Shares.\n\nCertain Directors of the Company, being Bob Dover, Nick Brayshaw and Gerry\nDefries have subscribed for 71,428, 71,428 and 17,857 Ordinary Shares\nrespectively as part of this placing.\n\nAs a result of this: Bob Dover now has an interest in 3,211,420 Ordinary Shares\nrepresenting 9.4% of the Company's issued share capital; Nick Brayshaw now has\nan interest in 3,737,173 Ordinary Shares representing 10.9% of the Company's\nissued share capital; and Gerry Defries now has an interest in 367,524 Ordinary\nShares representing 1.1% of the Company's issued share capital.\n\nThe funds raised through the placing will be used to further accelerate\ndevelopment of the tribrid engines as well as for general working capital\npurposes.\n\n\n\nENDS\n\n\nFor further information, please contact:\n\n\nTraction Technology PLC\nNicholas Brayshaw, Chairman\nTel +44 (0) 1403 791392\n\nBeaumont Cornish Limited\nRoland Cornish\nTel +44 (0) 20 7628 3396\n\nAmbrian Partners Limited\nTel +44 (0) 20 7776 6400\nRichard Brown\nShaun Whyte\n\nParkgreen Communications \nTel +44 (0) 20 7851 7480\nLucy Lake\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2058,"tagName":"div"}]