9th Apr 2014 13:18
LONDON (Alliance News) - Quixant PLC said Wednesday that it had raised GBP25 million through the placing of 17.9 million existing shares by company directors, and others connected to the company, to meet market demand and broaden its institutional shareholder base.
Quixant provides computing platforms for casino gaming machines.
The shares were placed at 140 pence by finnCap Ltd and represent 27.6% of the company.
Shares in Quixant were trading down 1.3% at 158.00 pence Wednesday afternoon.
The placing shares sold on behalf of current directors of the company, including Chief Executive Nick Jarmany, and their resultant shareholdings are as follows:
Director | Placing Shares sold | Resultant shareholding | ||
| Number of Ordinary Shares | % of issued share capital | Number of Ordinary Shares | % of Enlarged Share Capital |
Nick Jarmany | 8,109,347 | 12.5% | 16,752,923(1) | 25.9% |
Gary Mullins | 3,142,173 | 4.9% | 4,058,641(2) | 6.3% |
Chen Tai Lin | 2,221,739 | 3.4% | 4,589,842(3) | 7.1% |
"Since our IPO in May last year it became increasingly clear to us that greater liquidity was necessary for the long term benefit of the company, Jarmany said in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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Related Shares:
QXT.L