Petards Group PLC Result of Open Offer (2723R)
November 16 2012 - 1:00AM
UK Regulatory
TIDMPEG
RNS Number : 2723R
Petards Group PLC
16 November 2012
PETARDS GROUP PLC
("Petards" or the "Company")
Result of Open Offer
Petards, the AIM quoted developer of advanced security and
surveillance systems, announces the result of its Open Offer to
raise up to GBP1.125 million (before expenses) through the issue of
up to 4,500,000 New Ordinary Shares at 25 pence per New Ordinary
Share.
All capitalised terms in this announcement are as defined in the
Circular of the Company dated 26 October 2012.
The Company has received valid acceptances in respect of
3,153,047 Open Offer Shares from Qualifying Shareholders. This
represents approximately 70.08 per cent. of the Open Offer shares
offered. All eligible applications received from Qualifying
Shareholders will be allocated their pre-emption entitlements and
all eligible application under the Excess Application Facility will
be allocated their Open Offer Shares as applied for.
The 1,346,298 New Ordinary Shares not subscribed for in the Open
Offer will now be the subject of the Placing to be conducted over
the next few days.
A further announcement in respect of the Placing is expected to
be made on or about 20 November 2012.
Admission, settlement and dealings
Application will be made to the London Stock Exchange for the
New Ordinary Shares to be admitted to trading on AIM. It is
expected that such Admission will become effective and that
dealings will commence at 8.00 a.m. on 22 November 2012.
For further information:
Petards Group plc www.petards.com
Andy Wonnacott, Finance Director Tel: 0191 420 3000
WH Ireland Limited www.wh-ireland.co.uk
Mike Coe / Marc Davies Tel: 0117 945 3470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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