Business
Placing & General Meeting
Placing & General Meeting.
About this update from Transense Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 7909S Transense Technologies PLC 13 March 2019 \n\nTHIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED HEREIN, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.\nTHIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO SELL OR ISSUE OR THE SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY NEW ORDINARY SHARES OF TRANSENSE TECHNOLOGIES PLC IN THE UNITED STATES, CANADA, JAPAN, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL\nTransense Technologies plc\n(\"Transense\", the \"Company\" or the \"Group\")\n \nPlacing to raise up to £2.555m and \nGeneral Meeting \nTransense Technologies plc, the provider of sensor systems for the industrial, mining and transportation markets, is pleased to announce that it has raised gross proceeds of up to £2.555 million through a placing of up to 4,258,334 new ordinary shares of 10 pence each in the capital of the Company (\"Ordinary Shares\") at a price of 60 pence per Ordinary Share (the \"Issue Price\") (the \"Placing\").\nSummary of the Placing:\n· Placing to raise gross proceeds of up to £2.555 million at a price of 60 pence per new Ordinary Share;\n \n· The proceeds of the Placing will provide working capital to grow and develop Transense's iTrack trade, including the funding of further research and development, which will drive the future growth in iTrack sales;\n \n· The Placing will comprise the placing of separate tranches of new Ordinary Shares; \n \no The first tranche of shares (\"First Tranche Shares\") to be admitted to trading on the AIM market of the London Stock Exchange plc (\"AIM\") on 19 March 2019;\no The second tranche of shares (\"Second Tranche Shares\") to be admitted to trading on AIM shortly following receipt by the Company of HMRC EIS advance assuran...