Business
Placing & Update
Placing & Update.
About this update from Tomco Energy Plc
[{"type":"text","content":"\n Netcentric Systems PLC\n20 October 2006\n\n20 October 2006\n\n Netcentric Systems Plc\n ('Netcentric Systems' or 'the Company')\n\n Placing of New Ordinary Shares and Update Regarding Reverse Acquisition\n\nNetcentric Systems today announces that pursuant to the proposed placing\nannounced on 5 May 2006 (the 'Placing'), the Company has raised US$532,000\n(approximately £285,000) before expenses through the issue of 26,600,000 new\nordinary shares of 0.5p each in the Company (the 'Placing Shares'). The Placing\nhas been completed at a price of US$0.02 (approximately 1.07p) per Placing\nShare and the proceeds of the Placing are being applied towards costs incurred\nin relation to a potential reverse takeover.\n\nThe Placing was taken up by new investors, thereby strengthening the shareholder\nbase. Application will be made to the London Stock Exchange for the Placing\nShares to be admitted to trading on AIM if and when trading in the Company's\nsecurities is restored.\n\nOn 30 June 2006, the Company announced that it had entered into non-binding\nheads of terms with a third party which may lead to a transaction constituting a\nreverse takeover under the AIM Rules. These negotiations are ongoing and the\nBoard expects that the reverse takeover will be completed before the end of the\nyear.\n\nEnquiries:\n\nSimon Raggett\nStrand Partners Limited\nTel: (020) 7409 3494\n\nSimon Rothschild/Louise Mason\nBankside Consultants\nTel: (020) 7367 8888\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":1803,"tagName":"div"}]