12th Oct 2006 13:42
SMC Group Plc12 October 2006 SMC Group Plc ('SMC', 'the Group' or 'the Company') Placing of New Ordinary Shares - correction In the second paragraph of the announcement made this morning (the"Announcement"), the total number of existing shares sold should have read1,272,524 (not 1,322,524). All other details in the Announcement remain thesame. For further information please contact: SMC Group Plc Tel: +44 (0)20 7495 5335Stewart McColl Numis Securities Tel: +44 (0)20 7776 1500Michael Rowan/Jag Mundi Bell Pottinger Corporate & Financial Tel: +44 (0)20 7861 3232David Rydell/Geoff Callow/Chris Hamilton SMC Group Plc ('SMC', 'the Group' or 'the Company') Placing of New Ordinary Shares SMC, the architecture and design business, today announces that the Company hasraised £6.08 million, before expenses, by way of a Placing (the 'Placing') of3,800,000 new ordinary shares of 0.5p each in the Company (the 'PlacingShares'). The Placing has been completed at a price of 160p per Placing Share. Additionally certain employees, former employees and non-executive directorssold 1,272,524 shares at 160p per share. These transactions included thefollowing director dealings: +---------+------------------+----------+----------+----------+------------+|Name |Title |No. of |Price per |Total |% of shares || | |shares |share |shares now|in issue || | |sold | |held | |+---------+------------------+----------+----------+----------+------------+|Nicholas |Non-executive |465,000 |160p |4,246,806 |9.28 ||Wills |Director | | | | |+---------+------------------+----------+----------+----------+------------+|Richard |Non-executive |85,000 |160p |1,606,514 |3.51 ||Young |Director | | | | |+---------+------------------+----------+----------+----------+------------+ The Placing was taken up by new and existing institutional investors, therebystrengthening the shareholder base. Application has been made to the LondonStock Exchange for the Placing Shares to be admitted to trading on AIM. Dealingsin Placing Shares are expected to commence on 17 October 2006. The proceeds of the Placing will be utilised to replace elements of debt financedrawn down in regard to the Group's recent acquisitions. Commenting on the Placing, Stewart McColl, SMC's Chief Executive, said: 'The Board is delighted with the level of investor support in the Placing,particularly from a number of new institutional investors. This furtherstrengthening of the balance sheet enables the Group to go forward with its longterm strategy. 'I am pleased that Mr Wills and Mr Young, who have been investors in the Companysince its foundation in 1999, continue to be supportive of SMC and retainsignificant holdings in the Company,' For further information please contact: SMC Group Plc Tel: +44 (0)20 7495 5335Stewart McColl Numis Securities Tel: +44 (0)20 7776 1500Michael Rowan/Jag Mundi Bell Pottinger Corporate & Financial Tel: +44 (0)20 7861 3232David Rydell/Geoff Callow/Chris Hamilton Notes for Editors: SMC Group Plc is the holding company for the UK's largest group of architectsand designers. It has established expertise in a broad range of sectors,including residential, retail, industrial, workplace, transportation, leisureand education. On the 25th September 2006, the Group announced the acquisition of fourbusinesses in Scotland (Davis Duncan Architects, Hugh Martin Architects, Jenkins& Marr and Parr Architects) and one in the English Midlands (Hickton MadeleyArchitects), immediately creating the largest architecture group in Scotland andthe overall largest in the UK, with circa 700 staff. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
ARL.L