20th Jul 2007 08:00
Sigma Capital Group PLC20 July 2007 For Immediate Release 20 July 2007 SIGMA CAPITAL GROUP PLC i-design group plc completes successful £3.5 million placing and admission to AIM Sigma Capital Group plc ("Sigma") (AIM: SGM), the specialist asset managementand advisory group, is pleased to announce that the shares of investee company,i-design group plc ("i-design" or the "Company"), which has developed and sellsan end-to-end ATM advertising solution called ATM:ad, have today been admittedto trading on AIM. The Company has also raised approximately £3.5 million (before expenses) througha successful placing with institutional and other investors, at a placing priceof 67p per ordinary share. At the placing price, i-design's marketcapitalisation on admission is approximately £9.45 million. The Sigma Innovation Fund (East of Scotland) ("SIF") originally invested£250,000 in the Company in October 2004. This was followed in December 2005 by afurther £1 million investment round led by the Sigma Technology Venture Fund("STVF"), which invested £443,000. Other investors at that round included theScottish Enterprise Scottish Co-investment Fund and management. The two Sigmafunds subscribed a further £250,000 in aggregate at flotation and, as a result,the SIF now has an 8.83% holding in the Company and the STVF has an 11.48%holding in the Company. Both funds are managed by Sigma Technology ManagementLimited which itself has a direct holding of 1.56%. Commenting on today's announcement, Mark Hogarth, Investment Director of Sigmaand a non-Executive Director of i-design, said: "The successful flotation ofi-design on AIM follows two previously successful funding rounds led by Sigma.We have been delighted by the Company's progress to date and look forward to itscontinuing success as a public company." - ENDS - ContactSigma Capital Group plcMark Hogarth, Investment Director 0131 220 9444 Buchanan CommunicationsDiane Stewart/Isabel Podda/Karen Morrison 0207 466 5000 0131 226 4427 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
SGM.L