Business
Issuance and Award of Ordinary Shares & Options
Issuance and Award of Ordinary Shares & Options.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 9687B SocialGO plc 28 February 2011 \n \n\n \n \nSocialGO plc\n(\"SocialGO\" or the \"Company\")\n \nIssuance and Award of Ordinary Shares and Ordinary Share Options\n \nSocialGO, the AIM-quoted developer and provider of software which allows groups to build their own on-line social networks, held a general meeting on 28 February 2011 at the offices of Faegre & Benson LLP, 7 Pilgrim Street, London EC4V 6LB.\n \nThe Chairman is pleased to announce that the Shareholders of the Company unanimously passed a resolution approving the issuance of 45,271,186 fully paid Ordinary Shares of 1.00p each (\"Ordinary Shares\") in the Company thereby raising £1,335,500.00. \n \nThe Company has also issued 598,802 Ordinary Shares to First Columbus LLP following their appointment as Co-Broker to the Company. 5,883,333 Ordinary Shares have also been issued to the vendors of Get On With It Limited (\"GOWIT\"), which includes two SocialGO Directors, pursuant to the acquisition of GOWIT by the Company as was announced by the Company on 24 December 2009.\n \n \nPlacing of New Ordinary Shares\n \nThe Board of Directors of the Company is pleased to announce that, at a general meeting of the Company held on 28 February 2011, the Shareholders of the Company unanimously passed a Resolution approving the issuance of 45,271,186 new ordinary shares of 1 penny each (\"Ordinary Shares\") at a price of 2.95 pence per share (\"the Placing\"), thereby raising £1,335,500 of new equity capital before expenses. The Ordinary Shares that are the subject of the Placing will be admitted to trading on AIM with effect from 4 March 2011.\n \nThe net proceeds raised through the Placing will be used to provide additional working capital for the Company to fund the continued development and launch of SocialGO(TM) version 2, which in the Directors' opinion will significantly move the business forward.\n \n \nIssue of Ordinary Share to First Columbus LLC\n \nThe company issued 598,802 new Ordinary Shares at a price of 3.34p to First Columbus LLC in settlement of annual broker fees. Application has been made for the 598,802 Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 4 March 2011.\n \n \nIssue of Ord...