15th Jun 2015 14:27
TUNGSTEN CORPORATION PLC
("Tungsten" or the "Company")
Conditional Placing - Admission
Further to the Company's announcement of the results of the General Meeting today, an application has been made for the 16,875,985 Conditional Placing Shares to be admitted to trading on AIM. It is expected that admission will take place at 8.00 a.m. on 16 June 2015 ("Second Admission").
Following Second Admission, Tungsten is expected to have 125,405,397 Ordinary Shares in issue. 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 FCA's Disclosure and Transparency Rules.
Enquiries:
Tungsten Corporation plc Edmund Truell, Group CEO Juliana Wheeler, Head of Global Communications |
+44 20 7280 7901 +44 20 7280 7973 | |
Charles Stanley Securities (Nominated Adviser and Joint Broker) Marc Milmo/Dugald Carlean |
+44 20 7149 6000 | |
Canaccord Genuity Limited (Bookrunner and Joint Broker) Simon Bridges/Peter Stewart/Andrew Beswick |
+44 20 7523 8000 | |
Neustria Partners (Investors and Analysts) Robert Bailhache/Nick Henderson/Charles Gorman |
+44 20 3021 2580 | |
About Tungsten Corporation plc
Tungsten Corporation (LSE: TUNG) accelerates global trade by enabling customers to streamline invoice processing, improve cash-flow management and make better buying decisions from their detailed spend data.
Buyer organisations that join Tungsten Network, the world's largest compliant electronic invoice network, can reduce their invoice-processing costs by 60%. Suppliers benefit from efficiencies, greater visibility of their invoice status and peace of mind. Tungsten offers supply chain financing through Tungsten Bank; and helps buying organisations profit by applying real-time spend analytics to its vast repository of line-level invoice data.
Tungsten serves 56% of the Fortune 500 and 67% of the FTSE 100 by connecting the world's largest companies and government agencies to their thousands of suppliers around the globe. It enables suppliers to submit tax compliant e-Invoices in 47 countries, and last year processed transactions worth over £121 billion for organisations such as Alliance Data, Aviva, Cargill, Deutsche Lufthansa, General Motors, GlaxoSmithKline, Henkel, IBM, Kellogg's, and the US Federal Government.
Tungsten Corporation joined forces with OB10 in 2013 to create the world's largest electronic trading network; and acquired DocuSphere in September 2014, a provider of accounts payable automation solutions
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TUNG.L