Business
Proposed Placing and Notice o
Proposed Placing and Notice o.
About this update from Thruvision Group Plc
[{"type":"text","content":"\n RNS Number : 8474W Digital Barriers plc 26 November 2010 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, JAPAN, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.\n \n \n26 November 2010\n \nDigital Barriers plc\n \nProposed Placing to raise £30m (before expenses)\n \n \nDigital Barriers plc (\"Digital Barriers\" or the \"Company\"), the specialist provider of products and services to the homeland security and specialist defence markets, is pleased to announce a conditional placing of 18,750,000 new Ordinary Shares at 160 pence per share to raise £30 million (before expenses) for the Company to further implement its stated strategy.\n \nBackground to and reasons for the Placing\n \nThe Directors believe that the homeland security and specialist defence markets continue to represent a compelling commercial opportunity and, accordingly, they intend to continue to further develop Digital Barriers through strategic acquisitions and ongoing organic growth. The Company's focus is to provide the digital security and surveillance technology needed to enhance the physical and electronic security of high-profile, high-value potential targets, and to provide advanced technology to support military operations, particularly in the areas of counter-insurgency and force protection.\n \nDigital Barriers will seek to make further strategic acquisitions to secure technologies and capabilities that fall within its areas of focus. In parallel, Digital Barriers will continue the integration of its acquisitions and will continue to develop its UK and Singapore locations, and seek to establish the demand for the Company's services and capabilities in the US and Middle East.\n \nThe purpose of the Placing is to raise funds to be used by the Company to further implement its stated strategy. In particular, the Directors intend to use the net Placing proceeds to finance further strategic acquisitions.\n \nThe Placing\n \nGeneral\n \nThe Company has conditionally raised £30.0 million (before expenses) through the proposed issue of the Placing Shares at the P...