ILT Ilt Solutions

    RNS Number : 9187Y
  ILT Solutions PLC
  11 July 2008
   

    11 July 2008

    ILT Solutions Plc

    ("ILT Solutions" or the "Company")

    Placing of 18,500,000 new ordinary shares of 0.2 pence each at 1.25 pence per share to raise approximately �231,250 gross (the
"Placing") 


    The board of the Company ("Board") is pleased to announce that ILT Solutions, the European provider of blended training solutions, has
raised approximately �231,250 (before expenses) by way of a placing of 18,500,000 new ordinary shares of 0.2 pence each in the Company
("Placing Shares"), at a price of 1.25 pence per share (the "Placing Price").  

    The proceeds of the Placing will be used to provide the Company with additional working capital.

    Strand Partners Limited, as placing agents, on behalf of the Company, have conditionally placed 18,500,000 Placing Shares with a number
of existing and new individual shareholders, at the Placing Price, to raise net proceeds of approximately �223,250, after total costs of
approximately �8,000. 

    The Placing Shares will, on admission to trading on AIM, be credited as fully paid and rank pari passu in all respects with the existing
issued ordinary shares of 0.2 pence each in the Company ("Ordinary Shares"), including the right to receive all dividends and other
distributions declared, made or paid on the Ordinary Shares after that date. 

    Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM. Dealings in the Placing
Shares are expected to commence on 16 July 2008.  

    The Placing Shares represent approximately 19.2 per cent. of the current issued share capital of the Company. Following the Placing
there will be 114,965,617 Ordinary Shares in issue.  


    Ian McNally, Chairman of ILT Solutions, commented:  

    "We are pleased to have raised these funds in difficult stock market conditions and the �231,250 (gross) raised will provide the working
capital resources the business needs to expand and prosper."

    Enquiries please contact:

    ILT Solutions Plc
    Ian McNally, Chairman 
    01234 756 053

    Strand Partners Limited
    Stuart Faulkner, Director
    020 7409 3494


This information is provided by RNS
The company news service from the London Stock Exchange
 
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