Traction Technology PLC
24 August 2007
FOR IMMEDIATE RELEASE 24 August 2007
Traction Technology PLC
('Traction' or the 'Company')
Share Placing
The Company is pleased to announce that, in addition to the £245,000 raised on
13 August 2007, it has raised an additional £15,000 by means of a placing of
53,571 new Ordinary Shares of 3p each at a price of 28p per share. Application
will be made for the 53,571 new Ordinary Shares issued today to be admitted to
trading on AIM which will rank pari passu with the existing Ordinary Shares.
The funds raised through the placing will be used to further accelerate
development of the tribrid engines as well as for general working capital
purposes.
ENDS
For further information, please contact:
Traction Technology PLC
Nicholas Brayshaw, Chairman
Tel +44 (0) 1403 791392
Beaumont Cornish Limited
Roland Cornish
Tel +44 (0) 20 7628 3396
Ambrian Partners Limited
Tel +44 (0) 20 7776 6400
Richard Brown
Shaun Whyte
Parkgreen Communications Tel +44 (0) 20 7851 7480
Lucy Lake
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