TIDMSDI
RNS Number : 8133P
Scientific Digital Imaging Plc
12 February 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
THIS ANNOUNCEMENT IS FOR INFORMATIONAL PURPOSES ONLY, AND DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER OR INVITATION TO SELL OR
ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE
FOR, ANY SECURITIES OF SCIENTIFIC DIGITAL IMAGING PLC.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO
ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS
UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.
THIS ANNOUNCEMENT AMOUNTS TO A FINANCIAL PROMOTION FOR THE
PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT
2000 ("FSMA") AND HAS BEEN APPROVED BY PRIMARYBID LIMITED WHICH IS
AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (FRN
779021)
12 February 2019
Scientific Digital Imaging plc
("SDI" the "Company", or the "Group")
(AIM: SDI)
PrimaryBid Offer
At 4:30 p.m. on 12 February 2019 the Company issued an
announcement through RNS (the "Announcement") of a placing (the
"Placing") at an issue price of 34 pence per New Ordinary Share
(the "Issue Price"). In addition, the Company is pleased to
announce an offer for subscription for up to 294,117 New Ordinary
Shares at the Issue Price through PrimaryBid Limited (the "Offer").
The Offer, if subscribed for in full, would fully utilise the
Company's remaining existing authorities to issue and allot for
cash New Ordinary Shares in the Company. The funds raised by way of
the Offer will be used to strengthen the balance sheet of the
Company by reducing its net debt position following the acquisition
of Graticules.
The opportunity to participate in the Offer is at an issue price
of 34 (the "Issue Price") pence per New Ordinary Share.
Offer
The Company values its retail investor base and is therefore
pleased to provide private and other investors the opportunity to
participate in the Offer by applying exclusively through the
www.PrimaryBid.com platform and the PrimaryBid mobile app available
on the Apple App Store and Google Play. PrimaryBid does not charge
investors any commission for this service.
The Offer, via the PrimaryBid.com platform, will be open to
individual and institutional investors from 4.31 p.m. on 12
February 2019 to 9.00 p.m. on 12 February 2019. The Offer may close
early if it is oversubscribed.
Subscriptions under the Offer will be considered by the Company
on a "first come, first served" basis, subject to conditions (which
are available to view on PrimaryBid.com) with any investment
request over GBP25,000 first requiring consultation with the
Company.
No commission is charged to investors on applications to
participate in the Offer made through PrimaryBid. It is vital to
note that once an application for New Ordinary Shares has been made
and accepted via PrimaryBid, an application cannot be
withdrawn.
For further information on PrimaryBid.com or the procedure for
applications under the Offer, visit www.PrimaryBid.com or call
PrimaryBid.com on +44 20 3026 4750.
The New Ordinary Shares will be issued free of all liens,
charges and encumbrances and will, when issued and fully paid, rank
pari passu in all respects with the Company's existing Ordinary
Shares.
Enquiries
Scientific Digital Imaging plc +44 1223 320480
Ken Ford, Chairman
Mike Creedon, CEO
Jon Abell, CFO
www.scientificdigitalimaging.com
finnCap Ltd +44 20 7220 0500
Ed Frisby/Kate Bannatyne - Corporate Finance
Andrew Burdis/Sunila de Silva - ECM
PrimaryBid Limited +44 20 3026 4750
Robert Beenstock
JW Communications +44 7818 430877
Julia Wilson - Investor & Public Relations
Details of the Offer
The Company highly values its retail investor base which has
supported the Company alongside institutional investors over
several years. Given the longstanding support of retail
shareholders, the Company believes that it is appropriate to
provide retail and other interested investors the opportunity to
participate in the Offer. The Company is therefore making the Offer
available exclusively through PrimaryBid.com.
Retail and other investors may participate in the Offer of New
Ordinary Shares on a first come, first served basis, exclusively
through PrimaryBid.com.
The Offer is offered under the exemptions against the need for a
prospectus allowed under the Prospectus Rules. As such, there is no
need for publication of a prospectus pursuant to the Prospectus
Rules, or for approval of the same by the Financial Conduct
Authority in its capacity as the UK Listing Authority. The Offer is
not being made into any Restricted Jurisdiction or any other
jurisdiction where it would be unlawful to do so. finnCap is not
acting for the Company in relation to the PrimaryBid Offer
There is a minimum subscription of GBP100 per investor under the
terms of the Offer which is open to existing shareholders and other
investors subscribing via PrimaryBid.com. This allocation will be
filled on a "first come first served" basis.
Any investment request in excess of GBP25,000 will require the
Company's consent and may be subject to scale back.
For further details please refer to the PrimaryBid.com website
at www.PrimaryBid.com. The terms and conditions on which the Offer
is made, including the procedure for application and payment for
New Ordinary Shares, is available to all persons who register with
PrimaryBid.com.
Investors should make their own investigations into the merits
of an investment in the Company. Nothing in this announcement
amounts to a recommendation to invest in the Company or amounts to
investment, taxation or legal advice.
It should be noted that a subscription for New Ordinary Shares
and investment in the Company carries a number of risks. Investors
should consider the risk factors set out on PrimaryBid.com before
making a decision to subscribe for New Ordinary Shares. Investors
should take independent advice from a person experienced in
advising on investment in securities such as the New Ordinary
Shares if they are in any doubt.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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