Business
Re Placing
Re Placing.
About this update from Vianet Group Plc
[{"type":"text","content":"\n RNS Number : 0100K Brulines Group PLC 12 December 2008 \n \n\n\n\n\n\n\n\nPress Release\n\n\n12 December 2008\n\n\n\n\n\nBrulines Group plc\n('Brulines' or 'the Group')\n\nConditional Placing of up to 3,786,641 shares to raise approximately £4.7 million (before expenses)\n\n\nBrulines Group plc (AIM:BRU), the market leading provider of real time monitoring systems and data management services for the UK leisure sector, today announces a conditional placing of up to 3,786,641 ordinary shares (the 'Placing Shares') with various institutional investors at a price of £1.25 per share (the 'Placing Price') to raise approximately £4.7 million before expenses (the 'Placing'). The Placing is conditional, inter alia, on resolutions being passed at a General Meeting of the Group to be held on 29 December 2008. The Placing Shares are expected to be admitted to AIM and commence trading on 30 December 2008. \n\nThe Directors believe the current economic climate is providing the Group with significant opportunities as is evidenced by the Group's announcement earlier today of the acquisition of Vianet Limited ('Vianet'). Vianet provides, what the Directors believe is, market leading telemetry and data capture solutions to the vending industry as well as providing market leading M2M telemetry solutions in a growing market place. The Directors believe that this acquisition not only makes strong strategic sense but will allow both Vianet and Brulines to exploit the obvious operating synergies that exist between them. For further information please see the earlier acquisition announcement. \n\nWith the Group well placed to sustain its organic growth path within the leisure sector, the Directors believe that the Placing will enable the Group to take advantage of further complimentary acquisition and commercial opportunities as and when they arise, as well as strengthening considerably the Group's balance sheet. Such acquisitions would enable the Group to extend its core capabilities into adjacent markets, where the Directors believe there exists an opportunity to establish market leading products and services, as well as consolidating in sectors in which the&...