RedstoneConnect PLC Result of Placing (6000E)
May 09 2017 - 4:44AM
UK Regulatory
TIDMREDS
RNS Number : 6000E
RedstoneConnect PLC
09 May 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION
OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION (EU) 596/2014 (MAR). ON PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE
IN THE PUBLIC DOMAIN.
For immediate release
9 May 2017
RedstoneConnect plc
("RedstoneConnect" or the "Company")
Result of Placing
RedstoneConnect, a leading provider of technology and services
for smart buildings and commercial spaces, is pleased to announce
that further to the announcement made at 7.00 a.m. today (the
"Placing Announcement"), Cantor Fitzgerald and Whitman Howard have
successfully placed an aggregate of 433,333,334 Ordinary Shares on
behalf of the Company at a price of 1.5 pence per share, with new
and existing institutional investors. Pursuant to the Placing, the
Company has raised gross proceeds of approximately GBP6.5 million.
The Placing, which was oversubscribed, has received strong support
from both new and existing institutional shareholders.
Other than where defined, capitalised terms used in this
announcement (this "Announcement") have the meanings given to them
in the Placing Announcement.
The Placing Price represents a discount of approximately 3 per
cent. to the closing mid-market price of 1.55 pence per existing
Ordinary Share on 8 May 2017, being the latest practicable closing
mid-market price prior to the Placing Announcement.
Total Voting Rights
The Placing Shares will represent, in aggregate, approximately
21 per cent. of the Company's issued ordinary share capital as
enlarged by the issue of the Placing Shares. Application has been
made for the Placing Shares to be admitted to trading on AIM.
Subject to the Placing Agreement not having been terminated in
accordance with its terms, it is anticipated that Admission will
occur at 8.00 a.m. on 12 May 2017. The Placing Shares will be
allotted and issued credited as fully paid and will rank pari passu
with the Company's existing Ordinary Shares.
The Placing is conditional, among other things, upon Admission
becoming effective. Following Admission, the Company will have a
total of 2,078,479,485 Ordinary Shares in issue. With effect from
Admission, this figure may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in the Company, under the Disclosure Guidance and
Transparency Rules.
Enquiries:
RedstoneConnect plc Via Vigo Communications
Mark Braund (CEO)
Spencer Dredge (CFO)
Cantor Fitzgerald Europe - Nominated Adviser and Joint Broker +44 (0) 20 7894 7000
Marc Milmo/Phil Davies/Catherine Leftley/Callum Butterfield
Whitman Howard Limited - Joint Broker +44 (0)207 659 1234
Nick Lovering/Francis North
Vigo Communications - Financial PR +44 (0)207 830 9700
Jeremy Garcia/Ben Simons/Antonia Pollock
This information is provided by RNS
The company news service from the London Stock Exchange
END
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