4th Apr 2008 07:01
Knowledge Technology Solutions PLC04 April 2008 Knowledge Technology Solutions plc ("KTS", "the Company") Result of Placing Knowledge Technology Solutions plc, a provider of professional marketinformation services in the finance sector, is pleased to announce that it hascompleted a placing of 247,800,000 new ordinary shares ("Placing Shares") of 0.1pence each at a price of 0.5 pence per share to raise approximately £1,170,000net of expenses ("the Placing"). The proceeds of the Placing will be used to increase sales and marketingresources and related expenditure, to support further product development aswell as to provide the working capital necessary to support the implementationand delivery of larger contracts that tend to be of a longer duration. The placing has been performed under existing share authorities agreed at theEGM held on 22 October 2007. KTS Directors Richard Last, Louise Barton (and herhusband, Mr. Brian D. Newman) and Andrew Miller have participated in the Placingand have purchased 20,000,000, 11,700,000, 4,000,000 new ordinary shares,respectively. Following Admission of the 247,800,000 new ordinary shares, which will rank paripassu in all respects with the existing ordinary shares of the Group, KTS'stotal issued and voting share capital will comprise of 736,442,943 ordinaryshares and Directors participating in the Placing will have the followinginterests in the Company: No of Shares % of total Share Capital Louise Barton (and her husband, Mr. Brian D. Newman) 41,297,000 5.61%Richard Last 25,100,000 3.41%Andrew Miller 21,777,000 2.96% Application for the new ordinary shares to be admitted to trading on AIM hasbeen made. Admission of the new ordinary shares is expected on 8 April 2008. As stated in the interim statement published on 31 March the Board is planningto change the name of the company to Arcontech Plc at the AGM in December 2008and expects the company to trade profitably in 2008/09. Andrew Miller CEO of KTS said: "Arcontech has a growing, robust order book with strong demand for both ourtraditional middleware software products and our new CFD and Spread Bettingon-line trading software system." Enquiries: Arcontech/KTSRichard Last, Non-executive Chairman Tel: + 44 (0) 1608 683 108Andrew Miller, Chief Executive Officer Tel: + 44 (0) 207 256 2300 Kelso Consulting (PR advisers to Arcontech)Tim Prizeman/Angelina Hunt Tel: + 44 (0) 207 242 2272 Blue Oar Securities PlcMike Coe / Marc Davies Tel: + 44 (0) 117 933 0020 Notes for Editors Knowledge Technology Solutions PLC is a leading provider of real-time marketdata solutions. KTS has been established in London's financial district, theCity, since 1999 and is a public company listed on AIM, a market operated by theLondon Stock Exchange (ticker symbol: KTS). In 2007, KTS acquired ArcontechLtd., a specialist in real-time market data distribution and trading systems aspart of its strategic initiative to provide enterprise level systems for thefinancial markets. The Board is planning to change the name of the company to Arcontech Plc at theAGM in December 2008. For more information please visit www.arcontech.com and www.ktsplc.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Arcontech Group