Craneware plc
13 September 2007
This document is not for distribution in the United States, Canada, Australia or
Japan. This document does not constitute an offer to sell or issue or the
solicitation of an offer to buy or subscribe for Ordinary Shares in any
jurisdiction in which such offer or solicitation is unlawful
Craneware plc
('Craneware' or the 'Company')
COMMENCEMENT OF DEALING IN SHARES
13 September 2007 - Craneware plc, a leader in revenue cycle management software
solutions for the US healthcare market, is pleased to announce that dealings
will commence today in its Ordinary Shares following its admission to AIM, under
the ticker CRW. The Ordinary Shares will also be admitted to trading today on
PLUS markets under the same ticker.
Craneware has raised £5.4 million (prior to expenses) through a placing by KBC
Peel Hunt of 4,247,830 new Ordinary Shares at the Placing Price of 128p per
share. A further 11,793,142 existing Ordinary Shares have been placed by KBC
Peel Hunt at the Placing Price on behalf of existing Craneware shareholders,
resulting is a total placing of approximately £20.5 million. Following the
placing, there will be 24,929,950 Ordinary Shares in issue, giving Craneware a
market capitalisation of £31.9 million at the placing price. The percentage of
Ordinary Shares in public hands on Admission will be approximately 48 per cent.
Craneware's strategy is to continue its expansion into the US healthcare
software market, both through organic growth initiatives, including the
development of new software products that can be rolled out to the Company's
customer base, and through acquisitions.
Keith Neilson, CEO of Craneware, commented, 'The high level of interest shown by
investors in Craneware is testament to the power of our products, our leadership
position, the market drivers, and the under-penetrated nature of this sector.
Our strategy now is to use the funds raised through the Placing to capitalise on
the market opportunities ahead of us, extending our coverage in the US market
and generating further growth and profits. We look forward to life as a public
company with confidence.'
For further information, please contact:
Craneware plc KBC Peel Hunt ICIS
+44 (0)1506 407 666 +44 (0)20 7418 8900 +44 (0)207 651 8688
Keith Neilson, CEO Oliver Scott Tom Moriarty
Sandy McDougall, CFO Deon Veldtman Caroline Evans-Jones
About Craneware
Founded in 1999, Craneware has headquarters in Livingston, Scotland, with
offices in Florida, Arizona and Kansas, employing 95 staff. The Company's main
product, Chargemaster Toolkit(R)('CMT'), assists US healthcare providers in
reducing billing errors, ensuring the timely and accurate submission of claims
and managing compliance risk. The Company's software is provided to over 800
hospitals in 46 states in the US.
More information about Craneware plc and its services can be found on-line at
the Company's corporate website, www.craneware.com
This information is provided by RNS
The company news service from the London Stock Exchange